FOR SALE: CROSS COURT, BISHOPBRIGGS, G64 2RD
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FOR SALE: CROSS COURT, BISHOPBRIGGS, G64 2RD INCOME PRODUCING MIXED RESIDENTIAL/RETAIL REDEVELOPMENT OPPORTUNITY Site area: 0.75 acres / 0.3 hectares Potential for development of apartments above ground floor retail Prime town centre location Income producing £151,600 per annum with break clause
INCOME PRODUCING MIXED RESIDENTIAL/RETAIL REDEVELOPMENT OPPORTUNITY
THE OPPORTUNITY
The site provides the opportunity for a comprehensive
residential redevelopment over ground floor retail. We are
seeking offer proposals for the purchase of the property with
the benefit of the existing leases/ income stream or subject to
planning for the comprehensive redevelopment of the site.
The site currently accommodates a mix of ground floor retail
units, with office space above, including a former Royal Mail
sorting office and a detached building which is occupied by
a funeral directors. The Property has a total passing rent of
£151,600 per annum, with Landlord break clauses providing
vacant possession in May 2023.
LOCATION
Bishopbriggs is a popular suburb of Glasgow benefitting from
an excellent rail link to Glasgow Queens Street Station which
only takes 7 minutes, with services every 10 mins at peak
time and 30 minutes off-peak. There is also a direct link to
Edinburgh that takes 40 minutes at peak times, with a regular
service at 30 to 50 minute intervals depending on the time of
day.
The town centre offers a good range of local shopping, access
to excellent schooling and recreational facilities. For this
reason Bishopbriggs has a strong residential market across all
housing sectors and a vibrant high street.
Whilst the surrounding area is characterised by uses typical
of a town centre, the site is located on the edge of and
established residential neighbourhood, therefore the site
would integrate well if redeveloped for a flatted development.
INCOME PRODUCING MIXED RESIDENTIAL/RETAIL REDEVELOPMENT OPPORTUNITY
THE PROPERTY
The property is sited on the junction of Kirkintilloch Road and
Kenmure Avenue, located at the heart of Bishopbriggs town
centre. Cross Court comprises a 1960’s two storey building.
The main building is formed around a courtyard over two
floors. Cellular office suites occupy the first floor of the main
building, with 6 retail units on the ground floor. There is staff
car parking spaces and a service yard to the rear, accessed off
Kenmure Avenue.
The southern part of the site accommodates a single storey
former Royal Mail sorting office, accessed at the rear from
Kenmure Avenue. The detached two storey building which is
currently occupied by a funeral directors is situated on the
western portion of the site, having access off Kenmure Avenue.
Ground Floor Retail 382 sq m (4106 sq ft)
First floor Offices 409 sq m (4404 sq ft)
PLANNING
Former Post Office/
The site is located within East Dunbartonshire Council’s Hoskins Architects have produce a feasibility study and layout
Sorting Office 445 sq m (4791 sq ft) jurisdiction. The adopted East Dunbartonshire Local for a flatted development with ground floor retail space on
Development identifies the site as part of the Bishopbriggs the site. This feasibility study has informed pre-application
Funeral Directors 164 sq m (1769 sq ft) Town Centre, supporting a mix of uses. discussions with East Dunbartonshire Council. Further details
of the feasibility study and East Dunbartonshire Council’s
Early engagement with East Dunbartonshire Council
pre-application response are available to those parties who
has indicated their initial support for a comprehensive
register interest.
redevelopment of apartments above ground floor retail,
subject to necessary consents.
TENANCY SCHEDULE
EXISTING INCOME/LEASES
The Cross Court building is currently leased to nine tenants on a range of short term leases with expires between May 2021 and February 2030. All are contracted out leases with a Landlord break clause
in May 2023. The passing rent is £129,100 per annum. Tenants include a Council funded Charity, Caledonian Properties Ltd and a number of sole traders. The standalone property fronting Kenmure
Avenue is leased to Dignity Funeral Directors until May 2025 at a passing rent of £22,500 per annum, subject to a landlord break at May 2023. A full schedule of the leases, accommodation scheduled and
service charge information will be provided to interested parties that note their interest in the property. A summary tenancy schedule is provided below:
LANDLORD/
UNIT AREA SQ FT TENANCY LEASE START LEASE EXPIRY RENT PA
TENANT BREAK
7 - 1st Floor Office 1,761 ADHD Direct Limited 27/02/2020 26/02/2030 £12,000 28/05/2023
1 - Ground Floor Bank 1,400 TSB Bank Plc (Notice served to vacate 28/05/2021 29/05/2010 28/05/2021
TENANT 12/2022
2 - 1st Floor Office 1,260 Caledonian Properties Limited (lease to be entered into on completion) 01/01/1990 05/2024 £18,900 LANDLORD 05/2023
(both subject to 6 months notice)
2A - 1st Floor Office 1,383 The Dojang Martial Arts Academy Limited 31/03/2017 28/05/2025 £12,500 28/05/2023
3 - Ground Floor Hairdressers 1,029 Brian Gallagher and Matthew Horner 24/11/2006 31/08/2020 £22,000 Rolled over on tacit
5 - Ground Floor Shop 356 Roberto Poliri 30/11/2020 27/05/2050 £7,500 28/05/2023
6/7 - Ground Floor Restaurant
696 Thai Bento Express (terms agreed) 27/05/2025 £12,500 28/05/2023
(Delicatessen)
8 - Ground Floor Dry Cleaners 321 AB Barbers Ltd 27/05/2020 27/05/2025 £8,500 28/05/2023
9 - Ground Floor Florists 304 Ooops A Daisy 15/09/2014 14/05/2025 £5,200 15/05/2023
Entire Building - Post Office 4,791 East Dunbartonshire Initiative for Creative Therapy (T/A EDICT) 01/08/2020 01/07/2025 £30,000 28/05/2023
Total Income for Cross Court 13,301 Subject to CPL and Thai Bento leases completing £129,100
9 Kenmure Avenue 1,769 Dignity Funerals Ltd 15/05/2011 14/05/2025 £22,500 28/05/2023
Total Income for Entire Site 15,070 Subject to CPL and Thai Bento leases completing £151,600
INCOME PRODUCING MIXED RESIDENTIAL/RETAIL REDEVELOPMENT OPPORTUNITY
OFFER PROCESS
We are seeking expressions of interest from developers to
purchase the site. Parties who register interest will be provided
CONTACT
Expressions of interest should be sent to:
with further details and technical information including;
� Topographical survey of the site and existing buildings
John Hill
� Tenancy plan, copy of leases and service charge
07711 929 657
information
John.hill@montagu-evans.co.uk
� Feasibility Study produced by Hoskins Architects
� Copy of EDC pre-application response
� Energy Performance certificates
� Property Walk Through Video
The timescales and process for submitting offers will be
provided following the submission of expressions of interest.
MISREPRESENTATION ACT 1967
EPC RATING Montagu Evans LLP for themselves and for the vendors or lessors of this property
whose agents they are, give notice that:
(i) The particulars are set out as a general guideline only for the guidance of
Energy Performance Rating between E and G. intending purchasers or lessees and do not constitute the whole or any part of an
offer or contract.
(ii) All descriptions, dimensions, references to condition and necessary permissions
RATEABLE VALUE
of the use and occupation, and other details are given in good faith without
responsibility whatsoever and any intending purchasers or tenants should not rely
on them as statements or representations of fact, but must satisfy themselves by
inspection or otherwise as to the correctness of each of them.
£178,500 comprising 11 hereditaments (iii) Neither Montagu Evans LLP nor their employees has any authority to make or
give any representation or warranties whatsoever in relation to the property.
VAT
(iv) Unless otherwise stated, all prices and rents are quoted exclusive of VAT and
intending purchasers or lessees must satisfy themselves independently as to the
applicable VAT position.
(v) All the plans and maps provided within the particulars are for identification
Note our client has not elected to charge VAT on the property. purposes only.
VIEWING Date of Publication: May 2021
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