Opportunity to acquire a portfolio of 3 well-located single let retail units.
406/408 Victoria Road, Glasgow, G42 8YS - The subjects comprise a ground floor double retail unit contained within a traditional four storey mid terraced tenement building with residential dwellings on the uppers levels. The unit benefits from a large modern frontage with large display windows.
319 High Street, Cowdenbeath, KY4 9QJ - The subjects comprise a ground floor retail unit contained within a traditional single storey mid terraced building. The unit benefits from a traditional double fronted facade with recessed entrance and large display windows.
26 High Street, Leven, KY8 4LZ - The subjects comprise a retail unit over ground and first floor levels contained within a modern two storey mid terraced building. The façade benefits from a modern frontage with full height display windows.
Location
For a detailed view of each unit's location, please view attached brochure.
Accommodation
406/408 Victoria Road, Glasgow
Ground Floor - 696 sq ft
319 High Street, Cowdenbeath
Ground Floor - 646 sq ft
26 High Street, Leven
Ground Floor - 614 sq ft
First Floor - 338 sq ft
Terms
Covenant - Optical Express Limited was incorporated in 1995, the business having been set up in 1991, and has grown to be one of the UK’s leading eyecare providers which trades from over 170 locations throughout the UK and Europe. Website Address: www.opticalexpress.co.uk
Tenure - The Vendor is selling the Heritable Title (Scottish equivalent of English freehold). Seeking offers in excess of £XXX (exclusive of VAT) for the benefit of our client's heritable interests. A purchase at this level would provide a net initial yield of 9.77%, after purchaser costs of 3.21%.
VAT - Not applicable.
Offers - In the normal Scottish form addressed to this office.
Legal Costs - Each party to bear their own legal costs.
Specification
- Opportunity to acquire a portfolio of 3 well-located single let retail units.
- Established retail locations across Scotland's Central Belt - (1) Glasgow (2) Cowdenbeath (3) Leven - Let to Optical Express Limited.
- WAULT of 3.69 years to expiry and 3.03 years to breaks.
- Total income £XXX per annum.
- Seeking offers in excess of £XXX (exclusive of VAT) for the benefit of our client's heritable interests. A purchase at this level would provide a net initial yield of 9.77%, after purchaser costs of 3.21%.
- Offers may be considered for individual units.