The subjects comprise a large, mid terraced retail unit within a single storey parade of traditional construction. The unit has a single display window with Ladbrokes corporate signage above. Internally, the unit has been split to form a well-presented main sales area with staff counter, customer toilets, staffroom and staff toilet.
Location
Stewarton Street is a busy main thoroughfare within Wishaw Town Centre to the south east and a continuation of Main Street, the main commercial trading location within the town. Nearby occupiers include William Hill, Bet Fred, Clydesdale Bank, TSB and various public houses. Wishaw lies within North Lanarkshire region approximately 15 miles south east of Glasgow and 3 miles east of Motherwell. The town has a population of around 30,000 persons and is situated between the M8 and M74 motorways.
Accommodation
From our on-site measurements we calculate the property to extend to the following floor areas:
NIA 152.46 sq.m (1644 sq.ft)
ITZA 106.28 sq.m (1144 sq.ft)
Terms
TENANCY - The property is let to Ladbrokes Betting & Gambling Ltd on an FRI lease expiring November 2024 with a tenant break option in November 2019. The current passing rent is £XXX p.a.
COVENANT - Ladbrokes Betting &Gaming Ltd has a Dun & Bradstreet rating of 5A1 reporting a turnover for the year ending December 2014 of £XXXm, a pre-tax profit of over £XXXm and shareholder funds of over £XXX billion.
PRICE - Offers of £XXX are invited for our clients heritable interest, which represents a net initial yield of 10% assuming purchasers costs of 3.37% There is no VAT applicable on this transaction.
Specification
- Secure retail investment
- Well-presented unit of 152.67 sq.m (1644 sq.ft)
- Let to Ladbrokes Betting & Gaming Ltd until November 2024
- £XXX per annum
- Price reduced to £XXX
- VAT free investment
- Net Initial Yield 10%