Heritable Retail Investment with Vacant Office Opportunity
Tenants include Superslice Ltd t/a Pizza Hut on a 20 year Lease until 2024
Prominent arterial road location close to town centre
Nearby occupiers include Subway and Cooperative Pharmacy
Asset management opportunity
On site car parking for approximately 10 cars
Six Week Completion
Lot 51
Auction 22nd May 2014
Status Sold
Price £286,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
10 miles west of Glasgow
Roads
A761, M8
Rail
Paisley Gilmour Street
Air
Glasgow International Airport
Situation
The property is situated in a prominent roadside location on Glasgow Road (A761 arterial route from Glasgow City Centre). The property is located close to the major junction with Mill Street and Incle Street to the east of the town centre. Immediately behind the property is the Lagoon Leisure Centre, the main swimming and sports centre for the town.
Tenure
Heritable.
Location
Miles
10 miles west of Glasgow
Roads
A761, M8
Rail
Paisley Gilmour Street
Air
Glasgow International Airport
Situation
The property is situated in a prominent roadside location on Glasgow Road (A761 arterial route from Glasgow City Centre). The property is located close to the major junction with Mill Street and Incle Street to the east of the town centre. Immediately behind the property is the Lagoon Leisure Centre, the main swimming and sports centre for the town.
Tenure
Heritable.
Description
The property comprises two ground floor retail units and four floors of offices above with separate access from the front of the property. The property also benefits from 10 car parking spaces at the rear accessed from Millar Street. The vacant offices present an asset management opportunity or for potential change of use to residential (subject to consents).
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis.
Telephone: +44 (0)131 554 1705.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two ground floor retail units and four floors of offices above with separate access from the front of the property. The property also benefits from 10 car parking spaces at the rear accessed from Millar Street. The vacant offices present an asset management opportunity or for potential change of use to residential (subject to consents).
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis.
Telephone: +44 (0)131 554 1705.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
Ground
Retail
81.56 sq m
(878 sq ft)
MR & MRS LEON RICE t/a Chameleon Tattoos
10 years from 10/05/2006
£15,000
(09/05/2016)
Ground
Retail
90.02 sq m
(969 sq ft)
SUPERSLICE LIMITED t/a Pizza Hut
20 years from 04/08/2004 until 05/08/2024 (1)
£20,000
04/08/2014 and 04/08/2019
First
Office
201.87 sq m
(2,173 sq ft)
VACANT
Second
Office
208.10 sq m
(2,240 sq ft)
VACANT
Third
Office
204.75 sq m
(2,204 sq ft)
VACANT
Fourth
Office
210.79 sq m
(2,269 sq ft)
VACANT
Totals
997.09 sq m
(10,733 sq ft)
£35,000
(1) The tenant’s repair obligation is limited by reference to a schedule of condition - please see the legal pack for further information.
