Prominent High St Location
10 year lease
Full Repairing & Insuring
Passing Rent: £13,XXX.a.
V.A.T. Free
Rates Exempt
£99,000
Location
The subjects are located within Paisley town centre surrounded by a host of local and national retailers along with serving the newly expanded University of West of Scotland campus. The subjects are situated on the North side of High Street close to its junction with New St which is one of the main vehicular thoroughfares through Paisley town centre. Neighbouring occupiers include Marks & Spencer, Sports Direct, Spec Savers and TSB Bank.
Subjects
The subject property comprises a ground floor and basement mid terrace retail / office unit within a larger 4 storey traditional blonde sandstone development with both retailers and office premises surrounding. The subjects benefit from a prominent frontage inviting any incoming occupier to erect bold signage to the front elevation of the property. Internally the subjects offer main open plan office area with private office along with w.c. and tea prep facilities to the rear. The subjects at ground floor have been decorated to a high standard, walls having been lined, plastered and painted with floors being overlaid by commercial laminated timber and lighting provided by way of spot lighting recessed within a suspended tile ceiling.
The basement of the subjects benefit from 2 no. rooms primarily utilised for storage however may lend themselves to alternate use for a occupier.
The subjects benefit from alarm system and wired for extensive dome camera cctv system throughout.
Investment
Tenant: Wake & Vape Ltd
Term: 10years
Expiry: October 2027
Rent: £13,XXXer annum
Review & Break: 5th Anniversary
Deposit: £3,750 held until the 3rd anniversary
Proposal
Our client is offering their freehold interest in the subjects for £99,000 representing a Gross Initial Yield of 13%
V.A.T.
All prices and premiums quoted are exclusive of V.A.T. The subjects have NOT been elected for V.A.T.
E.P.C.
Available on request