The subjects comprise a ground floor retail shop unit located below a residential development. 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 which we assume is clad in bituminous felt, or similar. The property is secured externally with roller shutters.
The property is well positioned within a busy mixed-use area. Neighbouring occupiers include Whitburn Dental Centre and Best-One convenience store, with Whitburn Academy a short walk away.
The property is presented as a beauty salon with a main open treatment area and two private treatment rooms. It is well configured with a spacious staff area 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 and forms part of the main thoroughfare through the town. There are surrounding units within the courtyard setting that appear to have been purpose built as commercial in nature.
Accommodation
The property 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
TENURE: The shop is let to Lulu’s Armadale Ltd (trading as Lulu’s Nail & Beauty Salon) on a 5-year Full Repairing and Insuring lease until April 2028. The current rent passing is £7,800 per annum.
ENERGY PERFORMANCE: A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
NON DOMESTIC RATES: According to the Scottish Assessors’ Association website, the subjects are noted to have a Rateable Value of £6,000 per annum.
It should be noted under the terms of the Small Business Bonus Scheme, the property maybe eligible for 100% rates relief.
PROPOSAL: Offers in the region of £85,000 are invited, reflecting a Net Initial Yield of 9%
LEGAL COSTS: Each party will be responsible for paying their own legal costs incurred in this transaction.
VAT: We are of the understanding that VAT is not chargeable on the purchase of this investment.
Specification
- Well-presented unit situated within popular retail 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 in the region of £85,000 invited reflecting a Net Initial Yield of 9%