• Retail investment located along main pitch serving Kirkintilloch.
• Let to Subway Realty Ltd.
• 10 year FRI lease expiring 07 January 2017.
• Passing rent of £XXX per annum.
• Offers in region of £XXX invited.
• Net initial yield of 12.25% after purchasers costs.
PROPERTY NO LONGER AVAILABLE
Location
The subjects form part of a parade of similar retail units situated on the
east side of Cowgate within the principal shopping thoroughfare for the
town of Kirkintilloch.
The parade is situated approximately 100 metres north of the Regent
Centre and associated car park and circa 20 metres north of the
junction with Union Street.
Other notable occupiers in the area include Ramsdens, Santander,
Salvation Army, Timpson, Specsavers and Lloyds Pharmacy.
Accommodation
The subjects comprise a traditional retail unit arranged on the ground
floor only within a larger three storey commercial and residential
development which dates, we would estimate, from the 1950s.
The main walls are of traditional cavity construction, roughcast
externally incorporating some artificial stone features under a pitched
timber roof clad with slates. There is also a flat roof structure to the
rear providing terraced accommodation for the residential flats above.
The subjects have a modern full height, aluminium framed and double
glazed display frontage with a centrally positioned, single automatic
entrance door. There is also a canopy along the front elevation of the
development.
The subjects are currently occupied by Subway Sandwiches and
arranged to provide a sales counter and servery area, together with a
fixed seating area within the front portion of the unit. A food prep, walkin
chillers and freezers and staff accommodation are located within the
rear section, together with patrons’ toilets and a small office.
Terms
Offers in the region of £XXX (exclusive of VAT, if applicable) are
invited for our clients’ heritable interest, subject to and with the benefit
of the occupational lease.
A purchase at this level would reflect a net initial yield of 12.25% after
purchaser’s costs.
Specification
From measurements taken on site, we calculate the property to extend
to a net internal floor area of 90.25 sq.m (971 sq.ft) approximately.