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Investment / Asset Management Opportunity, 13, 13a & 13b Alexandra Street, Kirkintilloch, G66 1HB

2,307 Sq Ft / Retail / Investment

Sold - Last updated: 16 January 2015

The property comprises a single storey stone building below a pitched and tiled roof. The subjects provide two adjoining shop units, currently fitted out as a hairdressers (13 Alexandra Street) and a café (13A & B).

Location

The property is located on Alexandra Street in Kirkintilloch a short distance from Cowgate within Kirkintilloch town centre. Kirkintilloch lies approximately 8 miles to the north east of Glasgow and is readily accessible via the M80, Junction 3 and the Lenzie/ Kirkintilloch by-pass. The subjects back on to the Forth & Clyde Canal in a fast developing area. Adjoining occupiers include Lloyds TSB and Swinton Insurance together with the new Nonna’s Kitchen (Italian Restaurant).

Accommodation

We have calculated the floor area on a gross internal basis in accordance with the RICS Code of Measuring Practice (Sixth Edition) to be approximately as follows:-
 
No.13 - 57.40 sq m (621 sq ft)
No.13A & B - 156.72 sq m (1,686 sq ft)

Terms

RATING ASSESSMENT
The subjects are entered in the current Valuation Roll as follows:
• No.13: RV £XXX
• No.13A & B RC £XXX
 
LEASE AGREEMENTS
Whilst both properties are currently occupied, copies of the leases are not available. We understand that both tenants are in arrears and with the original leases expired, are occupying the properties on a 'tacit relocation' basis ie., annual leases. The basic lease information that we have for each property is as follows:-
 
13 Alexandra Street is currently trading as 'Estillo', a hairdressing salon, an on annual lease at a rental of £XXX per annum.
 
13A & B Alexandra Street is currently trading as 'Floras', a cafe, on an annual lease which is renewable in November each year, at a rental of £XXX per annum.
 
SALE PRICE
We are seeking offers in excess of £XXX for both properties. Only offers on an unconditional basis on leases/occupancy are invited.
 
VAT
Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.

Specification

  •  Two adjoining self contained shop units
  •  Currently trading as a hairdressers and a cafe/tearoom
  •  Possible income producing opportunity
  •  Asset management / redevelopment opportunity
  •  Offers in excess of £XXX are invited
  •  EPC - G (360)


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