The subjects comprise two adjacent ground floor hot food takeaway units within a 2 storey building of masonry construction. The roof is pitched and appears to be clad in slate tiles. There are offices on the upper floors. There is access to the rear for loading purposes. Unit 21a has a single allotted parking space and Unit 21b has two.
Both shops have aluminium glazed frontages under non-illuminated fascia boards and are accessed via single pedestrian doors. Unit 21a is currently undergoing a full renovation for conversion into a pizza franchise. Unit 21b is an established contemporary sushi bar. The floor is covered in commercial vinyl and the walls are a mix of plaster/paint and splashbacks. The ceiling is of suspended grid incorporating LED box lighting. The kitchen and welfare facilities are provided to the rear of the shop.
Location
Hamilton is a large town in South Lanarkshire, Scotland and serves as the main administrative centre of the council area. It sits approximately 9 miles south-east of Glasgow, 37 miles south-west of Edinburgh and can be accessed from Junction 6 of the M74 motorway.
The property is located on the east side of Gateside Street (A723), close to its junction with Woodside Walk and situated approximately 300 metres south of the pedestrianised section of Quarry Street, the town's main shopping street in a mixed commercial and residential area. Gateside Street (A723) carries a high traffic volume at most times of day with shops occupied by an interesting mix of national and local traders. Hamilton Central Train Station takes less than a 5 minutes walk to reach.
Accommodation
The subjects provide the following approximate net internal floor areas;
Unit 21a - 93.46 sq m (1,006 sq ft)
Unit 21a - 97.32 sq m (1,048 sq ft)
Terms
TENANCY
Unit 21a is let on a 10 year lease that commenced 06/09/22 and expires 05/09/32. The passing rent is £15,000 per annum. The lease is subject to a break option and upwards only rent review on 06/09/27. A Personal Guarantee has been provided over the lease.
Unit 21b is let on a 10 year lease that commenced 05/05/21 and expires 04/05/31. The passing rent is £14,000 per annum. The lease is subject to a break option and upward only rent review on 05/05/26.
OFFERS
Offers over £280,000 are invited for our clients’ heritable interest (Scottish equivalent to English Freehold) subject to the lease agreements in place. Based on a combined rental income of £29,000 per annum, a purchase at this level would reflect a net initial yield of 10.4%.