• Vacant residential development in historic and picturesque South Lanarkshire village
• Located only 20 miles south-east of Hamilton and 2 miles from M74
• Excellent re-letting opportunity for local developer/investor
• Ten flats, 3 mid-terraced houses, 1 end-terraced house and 1 end-terraced bungalow
• Properties extend from approximately 34 sq m (366 sq ft) to 60 sq m (646 sq ft)
DESCRIPTION
The subjects comprise 15 properties contained with two individual blocks on Blue Tower and Pathhead, set around a central courtyard/car park with communal garden grounds. They were constructed in 1993 and received a Saltire Society commendation that year.
There are ten flats, three mid-terraced houses, one end-terraced house and one end-terraced bungalow. Both blocks are two storey buildings built of masonry construction with a roughcast cladding and pitched and slate clad roof.
Whilst some renovations are required the units are of a lettable standard and since 2009 have had in excess of £XXX of investment including new kitchens, new ‘wet electric’ heating and HW systems as well as roof and roughcasting works.
Location
The historic village of Douglas is situated in South Lanarkshire on the south bank of Douglas Water and on the A70 which is a direct route to Ayr on the west coast. It is approximately 35 miles south-east of Glasgow and benefits from being only 2 miles from the M74 making the town of Hamilton to the north-west accessible within just 30 minutes.
The subject site is located on the northern fringe of the village on Blue Tower and Pathhead, a short walk from Main Street. Surrounding buildings are domestic in nature and of mixed age and style. Approximately 50% of the housing located within Douglas are social rented properties.
Whilst there are some amenities available in the village, such as cafes, bars, shops and a primary school, a greater selection is available in Lanark which is 12 miles distant. A large ASDA supermarket can be found in Lesmahagow which is approximately 7 miles away.
Accommodation
According to our recent measurement survey the subjects comprise the following approximate net internal areas:
Pathhead:
No. Location NIA Area
6 Ground Floor 48 sq m (517 sq ft)
8 Ground Floor 35 sq m (377 sq ft)
10 Upper Floor 46 sq m (495 sq ft)
12 Upper Floor 35 sq m (377 sq ft)
14 Ground Floor 34 sq m (366 sq ft)
16 Ground Floor 35 sq m (377 sq ft)
18 Upper Floor 35 sq m (377 sq ft)
20 Upper Floor 35 sq m (377 sq ft)
22 End Terr-House 60 sq m (646 sq ft)
Blue Tower:
No. Location NIA Area
1 Ground Floor Flat 35 sq m (377 sq ft)
3 Upper Flat 35 sq m (377 sq ft)
5 Mid-terr House 50 sq m (538 sq ft)
7 Mid-terr House 54 sq m (581 sq ft)
9 Mid-terr House 46 sq m (495 sq ft)
11 End-terr Bungalow 35 sq m (377 sq ft)
Terms
PRICE
Our client is seeking offers over £XXX for their heritable interest in the subjects.
Viewings will only be carried out with parties who have lodged a formal note of interest and can demonstrate tangible experience in managing similar developments and/or be accredited with Landlord Accreditation Scotland.
Specification
COUNCIL TAX
All fifteen properties are rated as Council Tax Band ‘A’ according to the Scottish Assessors website (www.saa.gov.uk).
UTILITIES
The properties have mains electricity and water. There is no gas in the village.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance ratings are pending.
LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the transaction with the purchaser liable for an LBTT or VAT applicable.
ENTRY
On completion of legal formalities.
VIEWING AND FURTHER INFORMATION
By appointment through the sole selling agent, Allied Surveyors Scotland plc.