Glasgow, G43 1TX
Details
- £500,000
- Investments , Retail
- Size: 623 sq ft.
- Date Available: Immediately
FOR SALE – SMALL INVESTMENT PORTFOLIO
Portfolio comprises
Restaurant at 222 Ayr Road, Newton Mearns & Retail Shop at 277 Kilmarnock Road, Glasgow
- For sale only as a whole – individual offers will not be considered
- Full repairing and insuring leases
- Total rental income – £37,000 per annum – 222 Ayr Road – £28,000 per annum – 277 Kilmarnock Road – £9,000 per annum
- 222 Ayr Road – lease until 2033 with 5 yearly rent reviews
- 277 Kilmarnock Road – lease until 2020
- Price: £500,000 – giving 7.6% initial yeild before costs
LOCATION & GENERAL DESCRIPTION
222 Ayr Road, Newton Mearns
A fully licensed restaurant over 2 floors contained within an extended and converted detached stone building with forecourt customer car park.
The subjects front the busy Ayr Road in the popular and established area of Newton Mearns adjacent to The Avenue Shopping Centre.
277 Kilmarnock Road, Glasgow
A single windowed shop on the ground floor of a four storey tenement building. The shop is fully fitted out and equipped as a pet store by the current tenant t/a Fur ‘N’ Feathers.
The subjects occupy a busy trading location in the established Shawlands district in the south side of Glasgow.
RATEABLE VALUES
The subjects are entered in the 2017 Valuation Roll as follows:-
- 222 Ayr Road – Rateable Value: £39,000
- 277 Kilmarnock Road – Rateable Value: £7,600
LEASE AGREEMENTS
222 Ayr Road, Newton Mearns
The subjects are currently let on a full repairing and insuring lease until 15 January 2033 at a rental of £28,000 per annum. The next rent review date is 15 January 2022 with further reviews 5 yearly thereafter.
277 Kilmarnock Road, Glasgow
The subjects are currently let on a full repairing and insuring lease until 27th April 2020 at a rental of £9,000 per annum.
EPC’s
The properties have been assessed for energy performance as below:-
- 222 Ayr Road ‘G’ Rating
- 277 Kilmarnock Road ‘G’ Rating
PRICE
Offers in the region of £500,000 are invited for a sale of the outright ownership and Landlord’s interest in both properties with the benefit of the current occupational lease agreements.
VAT
Unless otherwise stated, all prices quoted are exclusive of VAT.
LEGAL COSTS
Each party will be responsible for payment of their own legal costs incurred in any transaction.
Agent(s) for this listing
Barbara Wiles
Senior Property Manager
Office: 0141 375 1555
Fax: 0141 375 1666
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