July 2022: Tuesday 19 July 2022 - 9:00am
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • Ground rent is 10% of the net rent received by the underlessee + £1
    • Latest Ground Rent from year end 2021 was £16,546.66 (changeable depending on rent received by underlesee in a given year)
    • Heritable ground rent with an approx. 117 years unexpired on the underlease
    • Potential for Future rental growth at rent reviews of the existing sub-tenants and when vacant units within the centre become let
    • Future Development potential subject to underlease interest being acquired/absolved

    Description

    The Regent Centre is situated in the heart of Kirkintilloch town centre with the main entrance fronting Cowgate, the town's primary retailing thoroughfare. The centre comprises 17 retail units totalling 79,072 sq ft (7,346 sqm) over two levels. There is a two storey roof top car park providing 190 free car parking spaces which is the main car parking provision for the Town. The centre is currently anchored by Tesco Metro with other occupiers in the centre including Boots, Superdrug, Poundland, Betfair as well as a range of independent retailers. Other nearby occupiers include New Look, Greggs, M&Co and Bank of Scotland.

    Additional information

    Tenure

    Heritable

    Subject to an underlease of 150 years from 1 January 1990 until 31 December 2139.


    Accommodation

    Current tenant and rent schedule for the shopping centre is available to download from the legal pack.

    Tenancy

    Subject to an underlease of 150 years from 1 January 1990 until 31 December 2139 at a ground rent of 10% of net rent received by the underlessee + £1. The latest rent received for the year ending 31/03/2021 was £16,546.66.


    Previous Ground Rents:


    01/04/2012 - 31/03/2013: £89,159.26

    01/04/2013 - 31/03/2014: £83,285.02

    01/04/2014 - 31/03/2015: £83,167.05

    01/04/2015 - 31/03/2016: £81,169.05

    01/04/2016 - 31/03/2017: £42,274.71

    01/04/2017 - 31/03/2018: £34,419.82

    01/04/2018 - 31/03/2019: £27,918.19

    01/04/2019 - 31/03/2020: £15,712.14

    01/04/2020 - 31/03/2021: £16,546.66

    Planning

    The property may benefit from future development potential subject to the underlease interest being acquired/absolved. Please contact East Dunbarton Planning Authority (www.eastdunbarton.gov.uk).


    Rent

    £16,546.66

    Notes

    Please note the site areas provided are approximate. The photos and red/yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.


    VAT is applicable to this lot.

      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Kirkintilloch is a desirable commuter town, approximately 9 miles northeast of Glasgow. The property is situated in a prominent location with Cowgate to the East, Kerr Street to the South, Union Street to the North and Oxford Street to the west. The shopping centre forms part of the main shopping parade in the town. Lenzie Station is located approximately 1.5 miles from the property.

      Transport

      Lenzie Station - Scot Rail services into Glasgow.


      8 miles north-east of Glasgow.


      Legal documents

      Login to view legal documents

      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums