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High Yielding Workshop Garage and Site Investment , 469 Pinkston Road, Glasgow, G21 1HU

10,900 Sq Ft / Industrial / Investment

Withdrawn - Last updated: 23 October 2015

The complex comprises a former haulage complex / yard and features a mixture of traditional buildings, including single storey sandstone with flat roof and partly brickwork and two storey with slated roofs.
 
The buildings form a U shape round a central courtyard / yard.

Location

The complex occupies a prominent corner site on the west side of Pinkston Road at the junction of Pinkston Road with Keppochhill Road. The property therefore lies in the Port Dundas / Springburn area of the city, lying a short distance to the north of Glasgow city centre.
 
The surrounding area has been subject to a large scale investment by British Waterways in the Pinkston Water Sports Centre and Port Dundas Basin immediately to the south, while Douglas Park (BMW) have a modern showroom complex a short distance to the south.
 
Other surrounding major occupiers include Booker Cash and Carry, Grahams Dairy Complex, McGee’s Bakery and the Scottish Ambulance Service.
 
The Spring Park Bar Public House and Ladbrokes interlink with the complex on the northern elevation.
 
The property fronts onto Keppochhill Road, which is a main vehicular traffic route, linking from the north of the city down towards the access to the M74 / inner ring road.

Accommodation

The complex is currently laid out to provide 8 workshop / store units, together with a larger garage / workshop, car sales site and the current owner’s offices / administration unit.

Floor Areas
 
1. Office - 530 sq ft
2. Workshop - 670 sq ft
3. Workshop - 950 sq ft
4. Workshop - 950 sq ft
5. Store - 420 sq ft
6. Store - 420 sq ft
7. Workshop - 680 sq ft
8. Store - 1,300 sq ft
9. Store - 1,300 sq ft
10. Garage/Workshop - 3,665 sq ft
11. Car Sales Site -
12. Containers -
13. Advertising site -
 
TOTAL FLOOR AREA - 10,900 sq ft

Terms

Rental Income/Leases, etc
The existing owners lease the properties on annual tenancies and have done so for a considerable time period. The complex offers management opportunities in restructuring / extending leases.
 
Rent
The current gross rent amounts to £67,680 pa excluding income from the owner’s unit. The current owners pay the rates and water charges for Springburn Auto Engineers and the combined insurance.
 
The existing net income amounts to £57,500 pa.
 
General Remarks
The complex offers potential to both improve the rental income and reduce outlays. The existing owners have controlled the complex for approximately 50 / 60 years.
 
There is potential to turn Units 1 and 2 onto Keppochhill Road and return to retail use between the Spring Park Bar and Ladbrokes.
 
Additional income from the owner’s unit.
 
We are of the opinion that the rent could potentially increase to a figure of £77,000 pa.
 
For a detailed letting schedule, please contact the sole selling agents.
 
Price
Offers over £425,000 are invited providing an initial income of 15% net of purchaser’s costs of 4.8%.


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