David Allison & Company is a commercial property consultancy based in Glasgow, Central Scotland. We are a comprehensive surveying and valuation practice providing commercial property solutions for large Plc’s, small private companies, individuals, pension providers, property companies and many more who all work with us and come back to us as they like, trust and value the significant contribution we make to their business or to them personally.

 

64-66 Townhead

£550,000

Kirkintilloch, G66 1NZ

Details

  • £550,000
  • Investments
  • Size: 4,012 sq ft.
  • Date Available: Immediately

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    RETAIL / OFFICE INVESTMENT PORTFOLIO

    64-66 Townhead, Kirkintilloch & Unit 1,  The Cross, 4 High Street, Paisley

    64-66 Townhead, Kirkintilloch

    • Modern building with 4 tenants in Kirkintilloch town centre
    • 100% occupancy
    • Private rear car park
    • No VAT applicable

    Unit 1, The Cross, 4 High Street, Paisley

    • Shop unit adjacent to Plaza shopping centre in Paisley
    • High quality tenant
    • Well fitted out unit
    • VAT applicable

    Total rental income of £59,040 per annum

    Offers in excess of £550,000 sought

    GENERAL DESCRIPTION / LOCATION

    64-66 Townhead, Kirkintilloch

    Two ground floor shop units and two self-contained upper floor office suites in a modern 3-storey building with 10 private car parking spaces to the rear accessed via a pend.

    The subjects are prominently situated fronting Townhead close to the busy junction with Industry Street, which connects to the A806 town centre bypass road.

    Townhead is part of the main road through Kirkintilloch town centre.

    The street plan opposite shows the general location of the subjects.

    ACCOMMODATION & FLOOR AREA

    64A Townhead, Kirkintilloch

    A ground floor single fronted shop currently used as a beauty salon extending to approximately 46.97 sq m (505 sq ft).

    64B Townhead, Kirkintilloch

    A ground floor single fronted shop currently used as a hairdressing salon extending to approximately 51.52 sq m (552 sq ft).

    66A Townhead, Kirkintilloch

    A self-contained second floor office suite extending to approximately 132.47 sq m (1,425 sq ft).

    66B Townhead, Kirkintilloch

    A first-floor office currently used as a beauty salon extending to approximately 142.17 sq m (1,530 sq ft).

    Unit 1, The Cross, 4 High Street, Paisley

    The subjects comprise a single fronted shop contained on the ground floor and basement of a 3-storey sandstone fronted building which contains other shops at ground level and office suites on the upper floors.

    The shop is well fitted out for its current use as a Travel Agency and leased to Stewart Travel until 2028.

    The subjects occupy a prominent trading location at The Cross in the heart of Paisley town centre and benefit from being adjacent to the modern Plaza Shopping Centre.

    The street plan opposite shows the general location of the subjects.

    ACCOMMODATION & FLOOR AREA

    A single fronted shop currently used as a Travel Agency extending to approximately 63.06 sq m (679 sq ft) on the ground floor with toilets and a store on the basement floor.

    RATEABLE VALUES

    The subjects are shown in the current Valuation Roll with Rateable Values as follows:-

    Address Rateable Value
    64A Townhead £7,500
    64B Townhead £7,200
    66A Townhead £12,500
    66B Townhead £15,000
    Unit 1, The Cross £8,600

    LEASE DETAILS

    The undernoted schedule contains details of the current lease agreements:-

    Property Tenant Lease Terms Review Break Option Rent (£pa) VAT
    64a Townhead, Kirkintilloch, G66 1NZ Ella Por Belezza 28/09/2020 – 27/09/2030 28/09/2025 28/09/2025 £7,500 N/A
    64b Townhead, Kirkintilloch, G66 1NZ Ab Fab Hair 28/05/2021 – 27/05/2031 28/05/2026 28/05/2026 £7,500 N/A
    66b Townhead, Kirkintilloch, G66 1NZ The Pink Rooms 29/06/2023 – 08/05/2038 28/06/2028

    28/06/2033

    28/06/2028

    28/06/2033

    £12,000 N/A
    66a Townhead, Kirkintilloch, G66 1NZ Homesbrook Properties 01/12/2022 – 30/11/2032 01/12/2025

    01/12/2028

    01/12/2027 £11,040 N/A
    Unit 1, 4 High Street, Paisley Stewart Travel* 01/03/2017 – 28/08/2027 N/A N/A £21,000 Yes

    *Stewart Travel have a Creditsafe Rating of 74/100 ‘Very Low Risk’.

    ENERGY PERFORMANCE CERTIFICATES (EPC’s)

    The properties have been assessed for energy performance and have the following ratings:-

    64A Townhead – ‘B’

    64B Townhead – ‘C’

    66A Townhead – ‘B’

    66B Townhead – ‘F’

    Unit 1, The Cross – available on request

    PRICE

    We are instructed to seek offers in excess of £550,000 for our clients’ entire outright ownership in the subjects with the benefit of the current occupational lease agreements providing an investment yield of 10.73% before deduction of acquisition costs.

    Note:  Offers will only be considered for the whole portfolio although the price may be capable of being allocated between VAT rated and non VAT rated properties.

    VAT

    The properties at 64-66 Townhead, Kirkintilloch are VAT exempt with our client having opted to tax High Street, Paisley.  As such the total sale price will be allocated between VAT exempt and VAT registered.

    ANTI-MONEY LAUNDERING

    In order to comply with anti-money laundering legislation, the successful purchaser will be required to satisfy this requirement.  The required documents will be confirmed and requested at the relevant time.

     

    Agent(s) for this listing

    David Allison

    Director
    Office: 0141 375 1555
    Fax: 0141 375 1666
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