The investment comprises 3 self-contained retail units, 2 at ground level and an indoor market at lower ground which is fully let.
Location
Kirkintilloch is a prosperous commuter Town 10 miles to the north east of Glasgow, where retailers such as Boots, Burtons, Shoezone and many other national and local multiples are represented, taking advantage of the towns residential population in excess of 35,000. The subjects are located in a good secondary Position on the north west side of Cowgate adjacent to Guthrie Plus and opposite WH Smith.
Accommodation
Unit 15 - 1,555 sq ft (144.46 sq m)
Unit 17 - 2,867 sq ft (266.35 sq m)
Total - 4,442 sq ft (410.81 sq m)
Terms
15 Cowgate
T/A Cafe Li’s Ltd - £XXX pa
New FRI lease for 5 years from Aug 2009. Tenant break in year 2.
17 Cowgate
Vacant
Short Term Licence
Asking rent of £XXX pa
We have been instructed to sell the investment at £XXX which offers a Net Initial Yield of 9.67% after purchaser’s costs of 5.75%. On letting of the vacant unit at say £XXXpa the yield would become approx. 14%.