The subjects comprise a ground floor retail shop unit located below a residential development in a courtyard setting.
The subjects appear to be of concrete frame construction with a mixture of brick infill walls, rendered finishes and stone cladding to the exterior, surmounted by a flat roof clad in recently replaced bituminous felt.
The property is presented as a beauty salon with a main treatment area and 2 private treatment rooms. There is spacious staff space to the rear of the property comprising a kitchenette, laundry facilities, W/C and stock cupboard.
Location
Whitburn is situated in the West Lothian district of Scotland approximately halfway between Edinburgh and Glasgow. The town has the benefit of good road communication links being accessed from Junction 4 and 4A of the M8 Motorway.
The subjects specifically are located on East Main Street which is mixed in character with primarily residential occupiers. However, there are surrounding units within the courtyard setting that appear to have been purpose built as commercial in nature.
However, there are surrounding units within the courtyard setting that have been purpose built as commercial in nature.
Accommodation
The unit has been measured in accordance with RICS Code of Measuring Practice - 6th Edition on a net internal basis and is as follows:
68.51 sq m (737 sq ft)
Terms
RATEABLE VALUE: According to the Scottish Assessors’ Association website, the subjects are noted to have a vacant Rateable Value of £6,000 per annum. This is to be reassessed now a tenant is in place.
It should be noted under the terms of the Small Business Bonus Scheme, the property may be eligible for 100% rates relief.
SALE TERMS: The shop is let to Lulu’s Nail & Beauty Salon on a 5-year Full Repairing and Insuring lease expiring May 2028. The current passing rent is £7,800 per annum.
Offers over £85,000 are invited, reflecting a Net Initial Yield of 9.01%.
ENERGY PERFORMANCE: A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
VAT: VAT is not chargeable on the purchase of this investment.
LEGAL COSTS: Each party will be responsible for paying their own legal costs incurred in this transaction.
Specification
- Well-presented retail unit situated within popular local parade
- Net Internal Area 68.51 sq m (737 sq ft)
- Let on Full Repairing & Insuring terms until 2028
- Passing rent of £7,800 per annum
- Offers over £85,000 invited reflecting a Net Initial Yield of 9.01%