The subjects comprise a mid-terraced ground floor retail unit forming part of a larger blonde sandstone tenement building.
Externally the subjects benefit from a single shopfront with adjacent pedestrian access door both protected by manually operated steel roller shutters.
Internally the subjects provide a front retail space with rear storage area complete with staff WC and kitchen tea prep.
Location
Cambuslang is a popular commuter suburb located approximately 6 miles south-east of Glasgow City Centre with a residential population of approximately 24,500 persons.
The subjects are located on the south side of Main Street , close to its junction with West Coats Road, on a busy parade where neighbouring occupiers include William Hill, Greggs, Vaporized and Pizza Hut.
Accommodation
We have measured the premises in accordance with the RICS Code of Measuring Practice (Sixth Edition) and calculate the following net internal area of;
32.99 sq m (355 sq ft)
Terms
Rateable Value - The subjects are entered in the Valuation Roll with a Rateable Value of £XXX
Tenancy - Let to a private individual on FRI terms expiring December 2022 with no breaks
Passing rent of £XXX per annum
Upwards only open market rent review on third anniversary to the greater of open market or RPI
Asking Terms - Offers over £XXX are invited for the feuhold interest in the subjects with the benefit of the existing lease.
This represents a net initial yield of 9.82% assuming purchasers costs of 1.8%.
EPC - Available upon request.
VAT - No VAT is applicable on the purchase price.
Specification
- Let to a private individual on FRI terms
- Well established mobile phone and computer repair/accessory business established in 2013
- Tenant has recently renewed for a further 5 years
- Passing rent of £XXX per annum
- Rent review on third anniversary to the greater of open market or RPI
- Lease expiry December 2022
- Seeking offers of £XXX / NIY of 9.82%