The subjects comprise retail/office premises over ground and basement floors within a 4 storey sandstone building. The ground floor provides good quality retailing space with the principle shop front to Victoria Road and a return frontage to Dixon Avenue. The ground floor retains the original high ceiling and cornicing. The basement comprises good quality storage space together with male and female toilets and a tea prep area.
Location
The subjects are situated on the east side of Victoria Road at its junction with Dixon Avenue within the Crosshill area of Glasgow, which lies approximately 3 miles south of the city centre. Victoria Road is one of the principle retailing locations and vehicular routes linking the south side with the city centre.
Surrounding occupiers include GPS Estate Agents, The Cake Box, Barnardos, Lloyds Pharmacy, Sainsbury’s, Bank of Scotland, Superdrug and Tesco Express. Queens Park Train Station is located diagonally opposite and regular bus services operate locally.
Accommodation
We estimate the premises to have the undernoted net internal areas:
Ground Floor - 640 sq ft (49.46 sq m)
Basement - 315 sq ft (29.26 sq m)
TOTAL - 955 sq ft (88.72 sq m)
ITZA - 585 sq ft (54.387 sq m)
Terms
Lease Terms - The premises are leased to Upkeep Recycling for 3 years on FRI terms from 1st September 2017 at a stepped rent of £XXXpa (£XXX psf ZA) in year 1; £XXX pa (£XXX psf ZA) in year 2 and £XXX pa (£XXX psf ZA) in year 3.
The lease contains a TBO after 12 months upon 6 months notice. The lease includes a photographic schedule of condition.
Tenant - Upkeep Recycling is a registered charity (No. SC044818) with this being their 6th shop in Glasgow, see www.upkeeprecycling.co.uk. The organisation specialises in the refurbishment and resale of furniture and electrical goods.
Sale Price - Our client invites offers over £XXX. At this level the purchase reflects an equivalent yield of 11.27% after deduction of purchasers costs. There is no VAT payable on the purchase price.
Business Rates - RV/NAV £XXX - Payable £XXX
The tenant qualifies for 100% Rates Relief under the small business bonus scheme.
Energy Performance Certificate - A copy of the EPC can be provided upon request.