1 - 6 Moss Street Paisley Renfrewshire PA1 1BL

1 - 6 Moss Street
Paisley
Renfrewshire
PA1 1BL

Prominent Retail Investment

  • Highly visible retail parade in Paisley town centre, close to the Piazza Centre
  • Well let to occupiers including Renfrewshire Council and the Debra charity
  • Nearby occupiers include Marks & Spencer, Lloyds Chemist and Bargain Buys
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    80
  • Auction
    22nd October 2015
  • Rent
    £89,850 per Annum Exclusive
  • Status
    Sold
  • Price
    £355,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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  • Map

* More information on the term "guide" can be found here

Prominent Retail Investment

  • Highly visible retail parade in Paisley town centre, close to the Piazza Centre
  • Well let to occupiers including Renfrewshire Council and the Debra charity
  • Nearby occupiers include Marks & Spencer, Lloyds Chemist and Bargain Buys
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 80
  • Auction 22nd October 2015
  • Rent
  • Status Sold
  • Price £355,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
10 miles west of Glasgow
Roads
M8, A761
Rail
Paisley Gilmour Street
Air
Glasgow International Airport
Situation

Paisley is located approximately 10 miles south-west of Glasgow city centre and approximately 2 miles south of Glasgow International Airport. The property is situated at the junction of School Wynd and Moss Street, and stretches towards the High Street and the Piazza Shopping Centre. Other nearby occupiers include Marks & Spencer, Bargain Buys, Lloyds Chemist, Bank of
Scotland and Burton.

Tenure

Long Leasehold. 1-7 Moss Street and 1/5 School Wynd – Held from the District Council of Renfrew for a term of 125 years from 11th September 1987. The ground rent payable is the higher of £28,750 per annum and 13% of the total rent received. A small store to the rear, known as 12 High Street is held from the Church Commissioners of England for a term of 125 years from 31 January 1986 with only a nominal annual rent of £5 being payable.

Location
Miles
10 miles west of Glasgow
Roads
M8, A761
Rail
Paisley Gilmour Street
Air
Glasgow International Airport
Situation

Paisley is located approximately 10 miles south-west of Glasgow city centre and approximately 2 miles south of Glasgow International Airport. The property is situated at the junction of School Wynd and Moss Street, and stretches towards the High Street and the Piazza Shopping Centre. Other nearby occupiers include Marks & Spencer, Bargain Buys, Lloyds Chemist, Bank of
Scotland and Burton.

Tenure

Long Leasehold. 1-7 Moss Street and 1/5 School Wynd – Held from the District Council of Renfrew for a term of 125 years from 11th September 1987. The ground rent payable is the higher of £28,750 per annum and 13% of the total rent received. A small store to the rear, known as 12 High Street is held from the Church Commissioners of England for a term of 125 years from 31 January 1986 with only a nominal annual rent of £5 being payable.

Description

The property is a category B listed building, arranged over ground and three upper floors providing seven retail units at ground floor and office/ancillary accommodation at first floor. There is open plan office accommodation on part of the second and third floors accessed from School Wynd, with the remaining second and third floor accommodation under separate ownership and currently in residential use. The property benefits from car parking at the rear of the property with allocated spaces for occupiers.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is a category B listed building, arranged over ground and three upper floors providing seven retail units at ground floor and office/ancillary accommodation at first floor. There is open plan office accommodation on part of the second and third floors accessed from School Wynd, with the remaining second and third floor accommodation under separate ownership and currently in residential use. The property benefits from car parking at the rear of the property with allocated spaces for occupiers.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor/Unit Use Floor Areas (Approx) Tenant Term Rent p.a.x. Reviews/(Reversion)
Unit 1 Retail
337.70 sq m
(3,635 sq ft)
DEBRA 3 years from 08/10/2013 £12,000 (08/10/2016)
Unit 2 Retail
126.16 sq m
(1,358 sq ft)
INDIVIDUAL
(t/a The Vapour Shop)
15 years from 05/06/2015 until
04/06/2030 (1)
£15,000 04/06/2020 and
04/06/2025
Unit 3 Retail
144.27 sq m
(1,553 sq ft)
INSTANT CASH
LOANS LIMITED
10 years from 21/05/2012 until
20/05/2022 (2)
£12,850 21/05/2017
Unit 4 Retail
269.97 sq m
(2,906 sq ft)
VACANT      
Unit 5 Retail
143.16 sq m
(1,541 sq ft)
RENFREWSHIRE
COUNCIL
5 years from 28/08/2013 £18,000 (27/08/2018)
Unit 6A Retail
271.64 sq m
(2,924 sq ft)
COWGATE (WEST)
LIMITED
10 years from 04/09/2015 until
03/09/2025 (3)
£15,000 03/09/2020
Unit 6B Retail
53.04 sq m
(571 sq ft)
INDIVIDUAL (t/a Mina
Health & Beauty)
15 years from 03/03/2014 until
02/03/2029 (4)
£10,000 03/03/2019
Second Office
124.10 sq m
(1,336 sq ft)
TOTAL RECRUITMENT
SCOTLAND
6 months from 05/09/2012 (5) £7,000  
Third Office
124.10 sq m
(1,336 sq ft)
VACANT      
Totals  
1,594.14 sq m
(17,160 sq ft)
    £89,850  

(1) The lease of Unit 2 provides a tenant option to determine on 04/06/2020 and 04/06/2025.
(2) The lease of Unit 3 provides a tenant option to determine on 21/05/2017.
(3) The lease of Unit 6A provides annual rental fixed increases to £17,000 p.a. in September 2016 and £20,000 p.a. in September 2017.
(4) The lease of Unit 6B provides a tenant option to determine on 03/03/2019.
(5) The tenant is currently holding over. The lease provides a six month rolling option to determine

Property Documents

  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    470 KB
    View PDF
  • Site Plan
    Updated Date
    30.09.15
    File Size
    103 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
CMS Cameron McKenna LLP 191 West George Street
Glasgow
G2 2LD
Megan Rea 0141 304 6068 megan.rea@cms-cmck.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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