The property comprises a single fronted retail unit on the ground floor of a four storey terraced tenement property of traditional construction, which has flats on it upper floors.
The unit is of regular shape internally and has been modernised by the occupier, who trades as a gent’s barbers shop. The shop has a toilet towards the rear.
Location
Causeyside Street is a busy main road to the south of Paisley Town Centre with the subject property forming part of a terrace of shops to the south of its junction with Gordon Street and Canal Street. Occupiers in the vicinity include professional advisors, salons, estate agencies and numerous local traders.
Paisley is the principle town with the Renfrewshire region and is Scotland’s largest town with a population of over 77,000 persons. Paisley lies around 11 miles west of Glasgow.
Accommodation
The property extends to a net internal floor area of 34.10 sqm (367 sqft).
Terms
LEASE - The property is leased on full repairing and insuring terms to AIA Real Estate Ltd, a company with a Creditsafe rating of B.
The rent is £XXX per annum from November 2014 until November 2024 (6 years unexpired), with a fixed uplift to £XXX per annum in November 2019.
PRICE - Offers over £XXX are invited for our client’s heritable interest subject to the existing lease, which is a net yield of 9.82% and a reversionary yield of 10.64% in 2019, assuming purchasers costs at 1.8%.
EPC - Available upon request.
LEGAL COSTS - Each party to be responsible for their own legal costs incurred during the transaction.
Specification
- Busy roadside location close to Paisley Town Centre
- Well-presented retail unit trading as a barbers shop
- Net Internal Area 34.10 sq m (367 sq ft)
- FRI lease until November 2024 (6 years unexpired)
- £XXX pa, rising to £XXX pa in 2019
- Offers over £XXX are invited
- Net yield 9.82%