The property comprises a twostorey retail unit of traditional stone construction. The unit is currently occupied by Leon Michael Rice trading as Chameleon Tattoo Parlour and is laid out to provide numerous tattoo stations and customer toilet facilities, which are located on ground floor. Staff W/C and kitchen facilities can be found on the first floor alongside a partitioned therapy room.
Location
Paisley is located approximately 7 miles west of Glasgow and benefits from excellent transport links via the M8 motorway and main line rail network. Paisley Gilmour Station is within close proximity which serves Glasgow City Centre as well as the Clyde Coast. Glasgow International Airport is also located within approximately two miles of the subjects. The town is home to the University of the West of Scotland and has a student campus of around 10,000 students with the additional benefit of a proposed £13.2m student development underway adding to the town’s footfall and potential customer base. The town is also the administrative hub for the council district and home to Renfrewshire Council’s Headquarters.
Accommodation
Ground Floor 194.17 sq m (2,090sq ft )
First Floor 78.04 sq m (840 sq ft )
TOTAL 272.21 sq m (2,930sq ft )
Terms
LEASE TERMS A copy of the lease can be made available to seriously interested parties.
Tenant - Leon Michael Rice Start Date – 01/10/2019 End Date – 30/09/2029 Break Date – 01/10/2024 Rent - £26,000 p.a (Exc. VAT) Rent review – 01/10/2024 (Upwards only based on market rent) FRI Lease
SALE PRICE Our client is seeking offers in excess of £325,000 (excl. VAT) for their heritable interest in the subjects representing a net initial yield of 8% after allowing purchasers costs.
EPC The property has an EPC rating of ‘G’. A copy of the Energy Performance Certificate can be provided to interested parties.
RATING The subjects are entered in the current Valuation Roll with a rateable value of £27,400. As such, future incoming occupiers may benefit from 100% rates relief via the small business bonus scheme. The rate poundage for 2022/2023 is £XXX to the pound.
VAT Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
PLANNING We understand that the property previously received class 3 planning consent. The property may suit alternative uses subject to obtaining all necessary planning consents. It will be incumbent upon any occupier to satisfy themselves in this respect.
LEGAL COSTS Please note that each party will be responsible for their own legal costs relative to any transaction.
Specification
- TOWN CENTRE LOCATION
- UNEXPIRED LEASE TERMS OF APPROX. 7 YEARS
- NET INITIAL YIELD: 8% AFTER ALLOWING FOR PURCHASER'S COSTS
- PASSING RENT: £26,000 P.A
- OFFERS IN EXCESS OF £325,000