The subjects comprise a 2 storey detached commercial building with retail use at ground level and restaurant at upper floor.
The property is of brick and block construction overlaid in a flat roof structure. Internally, the ground floor is laid out to provide for a hair and beauty salon, and a restaurant on the first floor. The first floor is accessed via a staircase from the eastern elevation of the building, with entrance protected by an external roller shutter door.
Location
The subjects are positioned on the northern side of Burnfield Drive, a short distance to the west of its junction with Fenwick Road, within the south side suburb of Giffnock, approximately 5 miles from Glasgow City Centre.
The surrounding area benefits from good public transport links, with numerous bus services running along Fenwick Road, along with Giffnock Train Station situated a short walking distance to the south on the Glasgow to East Kilbride line.
The immediate area itself comprises an established mix of commercial, residential and light industrial uses. Fenwick Road forms part of the A77 which is a main arterial route throughout the south of Glasgow, linking to the City Centre in the north. Surrounding occupiers include Morrisons and Majestic Wine along wot number of local and national retailers along Fenwick Road.
Accommodation
According to measurements taken on site, we estimate the net internal area of the property to be as 90.21 sq.m (971 sq.ft).
Terms
TENANCY - The property is currently held on 2 Full Repairing and Insuring leases. The ground floor unit is let to Radiant Skin Limited until 20th March 2020, with the current passing rent of £XXX per annum, and the next rent review being 20th March 2017. The first floor of the property is let to Mount Café Restaurant until 30th April 2037, at a current passing rent of £XXX per annum, with the next rent review being 1st May 2019.
DISPOSAL TERMS - Offers in excess of £XXX are invited for the benefit of our client’s heritable interest in the subjects. A purchase at this level would reflect a Net Initial Yield of 9.32%.
RATING ASSESSMENT - From the Scottish Assessors website, we note that the subjects are entered in the current Valuation Roll at the following Rateable Values:- 2 Burnfield Road Shop - £XXX 2A Burnfield Road Restaurant - £XXX
Please note that a new occupier has the right to appeal the current assessment.
ENERGY PERFORMANCE - A copy of the energy performance certificate can be made available on request.
VAT - All prices quoted are exclusive of VAT, where applicable.
LEGAL COSTS - Each party will be responsible for their own legal costs.
Specification
- Located within affluent Giffnock area
- Detached property with ground floor shop and first floor restaurant
- Shop let until 20th March 2020 and restaurant until 30th April 2037
- Total Net Internal Area 90.21 sq.m. (971 sq.ft.)
- Total rent £XXX per annum
- Offers over £XXX exclusive of VAT
- Net initial yield 9.32%