In 2006, a development was carried out to split a single shop unit into two creating 49 and 49A Hopetoun Street. A new shop premises was constructed on the rear yard area to form 7 Hopetoun Lane.
The first floor and attic levels above 49 and 49A are in residential use and held under separate ownership.
Each unit can be described as follows:
49 Hopetoun Street
Single windowed shop premises with aluminium framed frontage and modern signage facia.
The premises is currently in use selling children’s clothing and is configured with a front shop area and staff counter with storage and a staff tea prep to the rear. A separate corridor wraps around the back and provide access to a WC.
49A Hopetoun Street
Single windowed shop premises with an aluminum framed frontage and modern signage facia.
The premises is currently in use as an estate agency. The accommodation provides modern space with laminate flooring, plasterboard featured ceiling and LED lighting. There is a private manager’s office to the rear along with staff tea prep and WC facilities.
7 Hopetoun Lane
The subjects comprise a double fronted, single storey shop premises of concrete blockwork construction with external render and lower course stonework finish. The roof is pitched and made up of composite panels.
Currently, the property is in use as an estate agency providing modern, open plan space with porcelain tiled flooring, suspended ceiling grid with CAT 2 lighting and there is a staff kitchen and WC to the rear. The property is flexible in its design and could be divided into two separate units.
Location
Bathgate is a popular commuter town located in West Lothian on the M8 corridor, approximately 20 miles west of Edinburgh and 28 miles east of Glasgow. With a population of around 21,000 people it benefits from close proximity to the M8
The properties are located at the north end of Hopetoun Street, a principal shopping street in the centre of Bathgate, close to the junction of Jarvey Street and Mid Street. Hopetoun Lane runs to the rear of Hopetoun Street and is accessed from Mid Street.
The surrounding area is predominately commercial in nature offering a wide range of leisure amenities including shops, restaurants and bars.
Occupiers close to the subjects include Hopetoun Bar and Bistro, William Hill, Royal Bank of Scotland, Fresh Fish Place and Luna Caffe.
Terms
TENANCY SCHEDULE
| Demise | Tenant | Size SQ FT (NIA) | Size Sq Ft (ITZA) | Entry | Expiry | Break | Rent (Per Annum) | Rate (Per Sq ft) | Rent Review | Repair | Comment |
| 49 Hopetoun Street | Kiddie Couture | 473 | 392 | 1/7/20 | - | - | £9,000 | £22.96 | n/a | - | No lease. Occupancy on verbal agreement. |
| 49A Hopetoun Street | Properties 13 t/a Martin & Co | 492 | 438 | 30/1/20 | 31/10/24 | 30/1/23 | £10,450 | £23.86 | n/a | FRI | Rent increases to £10,950 effective 30/1/23 |
| 7 Hopetoun Lane | Castlebrae Sales & Lettings Ltd | 1,157 | 958 | 1/1/12 | 31/12/16 | - | £12,600 | £13.15 | n/a | FRI | In tacit relocation. Rent increases to £13,200 p.a. effective 1/4/22. |
PRICE
Offers Over £280,000 is invited for our client’s heritable interests in the subjects.
A purchase at this level would show a net initial yield of 11.12% after allowing for purchaser’s costs of 3.05% including LBTT (Land and Building Transaction Tax).
TENURE
The property is held on a Heritable title (Scottish equivalent of English freehold).
RATEABLE VALUES
According to the Scottish Assessor’s website the properties carry the following individual rateable values:
49 Hopetoun Street: £7600; 49A Hopetoun Street: £7,700; 7 Hopetoun Lane: £12,400.
VAT
The property has een opted to tax so VAT is applicable in addition to the purchase price.
ENERGY PERFORMANCE CERTIFICATE
A copy of the EPCs are available on request.
LEGAL COSTS
Each party shall bear their own legal costs in incurred in connection with the transaction.