Prominent Retail Unit
New F.R.I Lease
Lease on Personal Name
Expiry March 2024
Passing Rent: £XXXp.a.
Price: £XXX
Location
The subjects are situated on the South side of Westmuir Street, opposite its junction with Back Causeway within the Parkhead area of Glasgow. The area is one which is densely populated with the benefit of a variety of commercial retailers along with office & professional businesses. The area benefits from excellent public transport links with a plethora of bus stops on each roadside along with being close to the Parkhead Forge Shopping centre. Neighbouring occupiers include O’Kanes Public House, Parkhead Off Licence, Turnbull McCarron Solicitors & Parkhead Health Centre.
Subjects
The subjects comprise a ground floor mid-terrace retail unit set within a 4 storey sandstone tenemental building surmounted by a pitched roof.
The subjects benefit from secure aluminium roller shutter securing the frontage, which comprises a aluminium framed, single display window with access via a similar styled single door.
Internally the subjects have been decorated to a good standard with flooring having been overlaid by laminated timber throughout, lighting is provided by way of fluorescent strips set within the suspended acoustic tile ceiling.
Partitions have been erected to create main customer reception, private office, staff tea prep and w.c facilities. The tenant has redecorated the subjects to suit their current use along with upgrading electrical distribution board, rear ventilation fan & installing hot water immerser.
Area
The subjects have been measured on a Net Internal Area basis to extend to the following:
Ground: 37.16sqm (400sq ft)
NAV/RV
The subjects have been assessed and entered onto the valuation roll with the following NAV/RV
£XXX
Executive Summary
The subjects are held on a full repairing and insuring lease on the following terms;
Tenant: Personal Name t/a Bigch Lebowski Bakery
Term: March 19 - March 2024
Break Option: The tenant has a break option in March 2022 providing the landlord with not less than 6 months notice.
Passing Rent: £XXXp.a.
Deposit: The landlord holds a £XXX deposit for the duration of the lease
Further Info: The tenant is operating their home bakery providing specialist Polish derived pastries and breads within the area. The tenant has been very busy and sold out of product every day since opening.
Proposal
Our client is offering their freehold interest in the subjects for £XXX representing a Gross Initial Yield of 10% before purchasers costs
V.A.T.
Prices quoted are exclusive of V.A.T.
Legal
Each party shall bear their own legal costs incurred int he transaction
E.P.C.
Available on request
Lease & Documentation
Available on request
Viewing
By appointment only