The subjects comprise a two storey & basement office/commercial building providing cellular office accommodation on the first floor with a large retail unit, bicycle workshop and additional ancillary accommodation situated at ground floor level. A large secured car park area is situated to the rear of the property and this area accommodates a single storey detached workshop. The main office building appears to be of brick and block-work cavity wall construction with an outer elevation of facing brick. The roof appears to be of flat design and we assume that it has a proprietary impervious roof covering.
Location
The subjects are situated on the east side of Neilston Road close to its junction with Rowan Street approximately 0.75 mile to the south of Paisley Town Centre. Neilston Road comprises a main north/south arterial route through the town and the immediate vicinity is primarily residential in nature – characterised by high density traditional tenemental dwellings and more recent new build housing.
The location benefits from a high level of vehicular and pedestrian traffic and a number of bus routes also pass the site. Paisley Canal railway station is situated a short distance to the south. On street car parking immediately to the front of the subjects is restricted however the subjects have the benefit of a dedicated car park to the rear.
Accommodation
In accordance with the RICS Code of Measuring Practice (Sixth Edition), we calculate that the subjects extend as follows –
Ground Floor - 188.92 sq m (2,033 sq ft)
First Floor - 210.08 sq m (2,260 sq ft)
Total Net Internal Area - 399.00 sq m (4,293 sq ft)
In addition to the accommodation noted above, part of the subjects comprises a single storey workshop situated within the secured yard to the rear of the main office. We were unable to inspect the unit but are advised that it extends on a Gross Internal Area basis to approximately 107.71 sq m (1,159 sq ft).
Terms
ENERGY PERFORMANCE CERTIFICATE (EPC)
It should be noted that an up to date EPC will require to be obtained for the premises – if it has not already been carried out.
BUSINESS RATES
The property is currently assessed as a multiple occupied building. Depending on the proposed use the ratable value may have to be reassessed. For further information please contact Renfrewshire Valuation Joint Board on 0300 300 0150.
LEGAL COSTS
Each party to be responsible for their own legal costs in relation to this transaction.
TENURE/OCCUPATIONAL LEASES
The property is part income producing. There are currently 3 tenants within the building – full details upon request.
PLANNING/CONSENTS
We understand the ground floor may be used as a retail or office unit and the remainder of the property as office use.
VAT
TBC
PROPOSAL
We have been instructed to market the property at offers in excess of £300,000 for the benefit of the heritable interest in the subjects. Our clients would also consider a lease of the property at rental offers in excess of £35,000 per annum.
Specification
- Office, shop & workshop – 399.16 sq m (4,295 sq ft)
- Superb commercial/retail location
- Rare purchase opportunity
- May suit re-development
- Offers in the region of £300,000