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Small Industrial Units - Investment Opportunity, 3 Lyon Road, Linwood Industrial Estate, Linwood, Paisley, PA3 3BQ

2,980 to 3,632 Sq Ft / Industrial / Warehouse / Distribution

For Sale - £675,000.00

Under Offer - Last updated: 18 August 2020

The property comprises a terrace of 5 similar sized industrial units each with dedicated car parking and shared yard space. There is also a secure yard currently used for storage adjoining the south gable of the terrace. The units offer a standard eaves height of 6.85m (22ft 6in).

Location

The property is situated in Linwood Industrial Estate next to Phoenix Park, just off the Linclive Interchange on the A737, 1.5 miles to the southwest of Glasgow International Airport. Glasgow city centre is 11 miles to the east and is well located to access both North Ayrshire and Inverclyde.

Accommodation

Each unit comprises a workshop with varying sized internal offices. The GIA of each unit is as follows:

Unit A - 337.43 sq m (3,632 sq ft)

Unit B - 334.04 sq m (3,596 sq ft)

Unit C - 276.83 sq m (2,980 sq ft)

Unit D - 276.83 sq m (2,980 sq ft)

Unit E - 286.70 sq m (3,086 sq ft)

TOTAL - 1,511.83 sq m (16,274 sq ft)

Yard - 505.00 sq m 

Terms

PRICE - Our client is seeking offers in excess of £675,000 for their heritable interest. After purchaser costs, the investment will provide a reversionary yield of 10.13%, allowing for purchaser costs at 5.0% based on an estimated rental income of £69,820 p.a.

VAT - All prices, rents, premiums, etc are quoted exclusive of VAT.

TENANCIES - Four of the five units and yard are held on full repairing and insuring lease agreements with the remaining unit currently on the market. The WAULT at date of marketing is 3.15 years. The principal terms of lease are detailed in the table attached.

RATING ASSESSMENTS:

Unit A - £9,800

Unit B - £9,700

Unit C - £7,900

Unit D - £7,800

Unit E - £7,800

Yard

MANAGEMENT FEE - 5% Management Charge.

Please note Units A & B currently share water and electricity charges. Each Tenant is invoiced by the Landlord on an equitable basis. Until very recently, the development has been privately managed by our client and therefore detailed service charge information is not available.

EPC:

Unit A - Rating G

Unit B - Rating G

Unit C - Rating G

Unit D - Rating G

Unit E - Rating G

Specification

  • Income - £56,820 p.a.
  • ERV - £69,820 p.a.
  • WAULT - 3.15 years
  • Exceptional letting history
  • Eaves Height - 6.85m (22ft 6in)
  • Good motorway access
  • Close to Glasgow International Airport

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Offers in excess of For Sale Freehold £675,000.00 NA

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Contact agents

Gregor Hinks

Allied Surveyors Scotland

0141 538 9985

Grant Strang

Allied Surveyors Scotland

0141 432 0926



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