The subject property comprises the ground floor of a traditional two storey terraced building of masonry construction under a pitched and slated roof. The frontage comprises three large display windows and a single pedestrian entrance door.
( Agency Pilot Software ref: 49668 )
Location
The subjects are located in Paisley, one of Scotland’s largest towns, with an estimated population in excess of 70,000 people. The town is located approximately seven miles west of Glasgow City Centre and serves as the administrative centre for Renfrewshire Council. More specifically, the subjects are located on the west side of Moss Street, in Paisley Town Centre. The surrounding area comprises a mixture of residential and commercial uses. Tenants of note in the surrounding area include Greggs and Tui, as well as a selection of independent retailers and local businesses. Public transport provision is excellent with good access to bus routes and rail via Paisley Gilmour Street Station, which is within 2 minutes walking distance from the subjects.
Accommodation
Total: 146.68 sq m ( 1,578 sq ft.)
Terms
Tenancy The subjects are leased to Done Brothers (Cash Betting) Limited (t/a Betfred), one of the UKs most well-established bookmakers, with over 1600 shops nationwide. The strong covenant has a Full Repairing and Insuring lease until 12th of August 2029 with a Tenant Only Break on the 5th April 2026.
Proposal Offers in Excess of £193,000 are sought, reflecting a Net Initial Yield of 10% assuming standard purchasers' costs of 2.83%. Rating Assessment We understand the premises have the following rateable value: Betting Office - £11,000
VAT Unless otherwise stated all figures, prices etc are quoted exclusive of VAT.
Tenure The Vendor is selling the Heritable Title (Scottish equivalent to English Freehold).
Legal Costs Each party will bear their own legal costs in respect of any transaction of this site, however for the avoidance of doubt the purchaser will be responsible for LBTT, Extract copies and VAT thereon.
Specification
- Single Let Investment Prominent
- Town Centre Location
- Lease expiry 12th August 2029 with a break option 05/04/2026.
- Rentpassing £20,000 per annum
- Offers over £193,000 reflecting a NIY of 10%