The subjects comprise a hot food takeaway premises arranged over the ground floor of a two storey and attic mid terraced block. The premises benefits from a large glazed aluminum frontage, providing exceptional exposure onto the busy throughfare.
Internally, the accommodation comprises a front sales area, fully equipped commercial kitchen and food preparation area. To the rear the property has storage, WC compartment and an office space. There is also a fire exit.
Location
The subjects are located within the West Lothian town of Bathgate, situated just off Junction 3A of the M8 motorway which is the main trunk road through Central Scotland linking Edinburgh in the east and Glasgow in the west.
More specifically, the subject property is located on the north side of Hopetoun Street in a block bounded by Jarvey Street to the east and Livery Street to the west within a mixed residential/commercial location. Hopetoun Street benefits from high levels of footfall and vehicular traffic. The area is home to both national and local occupiers including Ladbrokes, Royal Bank of Scotland, Paddy Power & Burger Bun.
Accommodation
Ground Floor - 88.50 sq m (953 sq ft)
The above floor areas have been calculated on a Net Internal Floor Area basis in accordance with the RICS Code of Measuring Practice (6th Edition).
Terms
Tenancy - The subjects are let on an FRI basis to Afzaal Hassaan at a rental of £13,000 per annum. The lease began in June 2023 and expires December 2035. There are rent views every 5 years as well as an option to extend for a further 5 years upon lease expiry. There is no deposit currently being held for the duration of the lease.
Price - Our client is seeking offers in excess of £140,000 reflecting a NIY of 9.12%, assuming purchaser's costs of 1.80%.
Rateable Value - The subjects are entered in the current Valuation Roll at a rateable value of £10,100 which qualifies for 100% rates relied under the Small Business Rates Relief.
Please note, a new owner or occupier of a commercial property has the right to appeal this rateable value within 4 months of beginning the tenancy.
Energy Performance Certificate - An Energy Performance Certificate is available upon request.
VAT - Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
Legal Costs - Each party to bear their own legal costs in the documentation of this transaction; however the in-going tenant will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.
Specification
- Located in the West Lothian town of Bathgate
- Offers over £140,000
- Passing rent £13,000 per annum
- Premises extend to 88.50 sqm (953 sqft)
- FRI Lease expiring December 2035
- Net Initial Yield of 9.12%
- Currently trading as Spice Magic