A business proposal to Tellon Capital LLP

Our Thoughts in Relation to This Property

If you create a long leasehold on the upper parts, you will be offering a freehold retail investment with the benefit of income from WH Smith Retail Holdings Limited. Whilst WH Smith will be regarded as a good covenant, it is helpful that the subletting amounts to just under 50% of the rent since this provides additional cover. In marketing, we would stress the flexibility by having two in-situ tenants at the lease expiry in October 2026.


By providing a clean investment with “four rent cheques per year” to an investor, you will attract private investors who do not wish the hassle of investing in residential. Furthermore, whilst we avoid ideally selling to SIPP investors, occasionally they are the correct purchaser – a SIPP buyer will not be able to acquire residential so by the split I propose you are now bringing in this section of the market.


Furthermore, including the residential in the sale makes the lot size large for many private investors. Splitting has the advantage of reducing the money involved and widening your buyer pool.


So, we will have five years of income in a good South East town at a rent which can be shown to have been recently re-based.

Neil Singer

CEO, Founding Partner

Recommendation

We feel probably sensible to offer the freehold, subject to the residential sold off, at £990,000 which is 6.5%. We would not sign the long leasehold before marketing but have it drawn up, ready to complete by completion of the sale, were you to sell the freehold.

Marketing Costs & Fees

Our marketing costs are £2,500 + VAT which covers the costs of website, photos, video, aerial photography, PDF, emailer systems, online execution, etc.

 

Our fees in this instance will be X% of the Sale Price + VAT.

 

In addition, we are offering a service to advertise online, using our expertise within this area. Advertising will be crafted specifically in relation to your property. We will advise which social platforms we recommend and advise a budget of between £500 to £1,000;

 

We will charge £500 + VAT to manage the process and report engagement.

Detailed Report

The property forms part of a £27,000,000 mixed use development completed in June 2012. It includes the Airdrie Community Health Centre, a state-of-the-art health centre for NHS Lanarkshire. Home Bargains occupy the majority of the ground floor along with part of the basement. The health centre is owned by the Scottish Government. Plans are available to download.


The unit has extensive glazed frontage onto Graham Street. The front of the unit is used for sales with rear for storage, WC and staff accommodation. A basement area is utilised for storage and deliveries to the service entrance.


During a storm in February 2020 there was damage and localised failure of cladding to the larger common building.  Discussions are ongoing with the co-owners of the common building (the largest owner being the Scottish Government) and the main contractor to agree the extent of the works. It is envisaged that there will be no disruption to the trading of Home Bargains during any remedial works. The vendor, Sheet Anchor Investments Ltd (SAIL), and their managing arm will oversee the process and SAIL will indemnify the purchaser for the share of any costs arising so there will be no cost or risk to the purchaser. Further details can be provided.


If you create a long leasehold on the upper parts, you will be offering a freehold retail investment with the benefit of income from WH Smith Retail Holdings Limited. Whilst WH Smith will be regarded as a good covenant, it is helpful that the subletting amounts to just under 50% of the rent since this provides additional cover. In marketing, we would stress the flexibility by having two in-situ tenants at the lease expiry in October 2026.


By providing a clean investment with “four rent cheques per year” to an investor, you will attract private investors who do not wish the hassle of investing in residential. Furthermore, whilst we avoid ideally selling to SIPP investors, occasionally they are the correct purchaser – a SIPP buyer will not be able to acquire residential so by the split I propose you are now bringing in this section of the market.


Furthermore, including the residential in the sale makes the lot size large for many private investors. Splitting has the advantage of reducing the money involved and widening your buyer pool.


So, we will have five years of income in a good South East town at a rent which can be shown to have been recently re-based.

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A business proposal to Tellon Capital LLP

Our Thoughts in Relation to This Property

If you create a long leasehold on the upper parts, you will be offering a freehold retail investment with the benefit of income from WH Smith Retail Holdings Limited. Whilst WH Smith will be regarded as a good covenant, it is helpful that the subletting amounts to just under 50% of the rent since this provides additional cover. In marketing, we would stress the flexibility by having two in-situ tenants at the lease expiry in October 2026.


By providing a clean investment with “four rent cheques per year” to an investor, you will attract private investors who do not wish the hassle of investing in residential. Furthermore, whilst we avoid ideally selling to SIPP investors, occasionally they are the correct purchaser – a SIPP buyer will not be able to acquire residential so by the split I propose you are now bringing in this section of the market.


Furthermore, including the residential in the sale makes the lot size large for many private investors. Splitting has the advantage of reducing the money involved and widening your buyer pool.


So, we will have five years of income in a good South East town at a rent which can be shown to have been recently re-based.

Neil Singer

CEO, Founding Partner