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Description

  • Status: Available
  • Type: Portfolio
  • Ownership: Freehold
  • Occupation: Tenanted

Fully Let Portfolio comprising 4 Properties with Rear Loading Area/ Current Passing Rent: £44,000p.a. Total E.R.V. £65,000p.a. V.A.T. Free Investment

Forming 4 no individual retail units comprising a tattoo parlour, vape shop, sandwich shop and convenience store.

The properties are held on full repairing and insuring head leases. Current passing rent is £44,000p.a. with an E.R.V. of £65,000p.a.

The subjects are located within the town of Motherwell, with a population of approximately 31,906. Motherwell benefits from excellent road links via the M74 and links to the M73 and M8 Network.

Surrounding commercial occupiers comprise an attractive mix of national multiple retailers and sole traders including Lidl and Boots Pharmacy along with neighbouring Motherwell Civic Centre.

The properties are held on full repairing and insuring head leases on the following terms; 147 Windmillhill Street Tenant: Wonderland Tattoos Limited Area: c. 600sq ft RV: 8,100 Passing Rent: £12,500p.a. Expiry: 2nd December 2028 Rent Increase: December 2026 - £13,500p.a. 149 Windmillhill Street Tenant: Rodbar Ltd Area: 600sq ft Rent: £10,500p.a. Rent Increase: 1st Feb 2026 £12,500p.a Expiry: 31st Jan 2030 Rent Review: February 2028 RV: £8,100 Use: Convenience Store 151 Windmillhill Street Tenant: Leggate Foods Ltd - t/a Derby Snap Area: 600sq ft RV: £8,000 Passing Rent: £11,000p.a. Expiry: 1st August 2024 (Tenant keen to extend) Use: Sandwich Shop 153 Windmillhill Street Tenant: Personal Name Area: 550sq ft RV: £7,400 Passing Rent: £10,000p.a. Expiry: 31st July 2028 Use: Vape Shop Current passing rent is £44,000p.a. with an E.R.V. of £65,000p.a.

The subjects are located within the town of Motherwell, with a population of approximately 31,906. Motherwell benefits from excellent road links via the M74 and links to the M73 and M8 Network. The subjects are situated upon Windmillhill Street (A721) a busy arterial route which benefits from high volumes of daily passing traffic and footfall. Surrounding commercial occupiers comprise an attractive mix of national multiple retailers and sole traders including Lidl and Boots Pharmacy along with neighbouring Motherwell Civic Centre. The parade comprises a 2 storey mixed use development of traditional sandstone construction surmounted by a pitched roof at upper floors, under separate ownership. The parade benefits from rear loading / car park accessible from the north side of the development. Forming 4 no individual retail units comprising a tattoo parlour, vape shop, sandwich shop and convenience store. Each of the units benefit from a single display window frontage and single door access and have been renovated by the sitting tenants to suit each of their business requirements.

Full Address: 147-153 Windmillhill Street, Motherwell, ML1 1RY

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Various
Rent: £44,000 per year / £3,667 per month
Yield: 15% (approx)
Tenant: Company
Notes: The properties are held on full repairing and insuring head leases. Current passing rent is £44,000p.a. with an E.R.V. of £65,000p.a.

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Pricing Information & Bidding

Opening Bid: £293,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Auction Details

Date & Time: 12 December 2024, 10am-3pm
Type: Timed Online Auction

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