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Retail Investment For Sale, 45 and 45A Neilsland Road, Hamilton, ML3 8NA

4,143 Sq Ft / Retail / Retail - High Street

For Sale - £305,000.00

Available - Last updated: 02 May 2024

The subjects comprise a detached building of traditional construction arranged over ground floor only. The property incorporates a public house and a betting office. The roof is flat and appears to be of bituminous felt.

Upon entering the public house, there is the bar situated immediately ahead with customer seating surrounding it. To the rear of the property there are customer and staff welfare facilities.

A stairwell to the rear provides access to the basement which extends to the entire demise of the building. Internally, the betting office has an open plan sales area which has been fitted out with corporate branding. The ceiling throughout is formed of a suspended acoustic tiled grid design incorporating recessed fluorescent lighting fitments and air conditioning/handling units.
( Agency Pilot Software ref: 53068 )

Location

 Hamilton is a large town in South Lanarkshire, Scotland and serves as the main administrative centre of the council area. It sits approximately nine miles southeast of Glasgow, 37 miles south-west of Edinburgh and can be accessed from Junction 6 of the M74 motorway. The subject property is located in the Fairhill district of Hamilton on the north-east side of Neilsland Road, approximately two miles south west of Hamilton Town Centre. The surrounding area is primarily housing with nearby occupiers including the Community Centre, Fairhill Takeaway and Premier Convenience Store. The nearest rail links are from Hamilton Central Railway Station which is within a five-minute drive from the subjects.

Accommodation

45 Sales, ancillary space & storage 79.74 sq m (858sq ft )

45a Sales, ancillary space & storage 305.15 sq m (3285sq ft )

Total 384.89 sq m (4143sq ft )

Terms

TENANCY The property is let to William Hill Organisation Limited on a new 15-year Full Repairing and Insuring lease that commenced in March 2024 at a new rent of £26,000 per annum. The lease incorporates tenant break options at years 7 and 10. The rent is subject to open market rent reviews at years 5 and 10.

PRICE Offers in excess of £305,000 are invited for the Heritable Interest (Scottish equivalent to English Freehold) subject to the lease agreements in place. Based on the combined rental income of £26,000 per annum, a purchase at this level would reflect a net initial yield of 8.5%

ENERGY PERFORMANCE CERTIFICATE An EPC has been prepared for this property and can be provided upon request.

LEGAL COSTS Each party will be responsible for their own legal costs incurred in connection with this transaction. For the avoidance of doubt the ingoing purchaser will be liable for LBTT and Extract Copies thereon

Specification

• Detached building
• Large plot to rear
• New 15-year FRI lease recently agreed
• VAT free investment
• Net Initial Yield of 8.5%

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £305,000.00 NA

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Ryan Farrelly

Graham + Sibbald

0141 432 1902

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