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Description

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

***COMMERCIAL INCOME PRODUCING INVESTMENT***Tenanted Cherry Pie Tatoo commercial property over ground floor and basement. Currently producing £10,500 per annum.

Compromises: Ground Floor: 62.34sqm (671 sq ft) Basement: 58.06sqm (625 sq ft) Total: 120.4sqm (1,296 sq ft)

SUPER TRADING POSITION ***with highly visible frontage. PRIME INVESTMENT PROPERTY in excellent trading position on busy shopping street. **PERFECT ADDITION TO ANY PORTFOLIO**

The property is fitted out in accordance with the tenants requirements with linoleum flooring, suspended ceiling with L.E.D lighting and partitioned tattooing rooms with WC and tea prep to the rear.

Super position within the main shopping thoroughfare in popular Hamilton Town Centre on the main pedestrianised street close to Hamilton's principle car parking facilities and bus station.

***COMMERCIAL INCOME PRODUCING INVESTMENT***Tenanted commercial property over ground floor and basement. Currently producing £10,500 per annum. Compromises: Ground Floor: 62.34sqm (671 sq ft) Basement: 58.06sqm (625 sq ft) Total: 120.4sqm (1,296 sq ft) SUPER TRADING POSITION ***with highly visible frontage. PRIME INVESTMENT PROPERTY in excellent trading position on busy shopping street. **PERFECT ADDITION TO ANY PORTFOLIO** The property is fitted out in accordance with the tenants requirements with linoleum flooring, suspended ceiling with L.E.D lighting and partitioned tattooing rooms with WC and tea prep to the rear. Super position within the main shopping thoroughfare in popular Hamilton Town Centre on the main pedestrianised street close to Hamilton's principle car parking facilities and bus station.

The property is situated within a larger retailing parade within Hamilton town centre on a busy thoroughfare. Located on the pedestrianised Quarry Place shopping arcade which links Quarry Street to the New Cross Shopping Centre within the central retail and commercial core of Hamilton. The adjacent New Cross Centre incorporates one of the town's principal car parks and Hamilton Central railway station and bus terminus are in close proximity. Hamilton has a residential population of around 45,000, an immediate catchment in excess of 100,000 and a greater catchment of 1.5 million within 15 miles

Full Address: 16 Quarry Place, Let Investment, Hamilton, ML3 7BB

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2 Years
Rent: £10,500 per year / £875 per month
Yield: 18% (approx)
Tenant: Private Individual
Notes: full repairing and insuring basis where the landlord remains responsible for roof and canopy repairs, if and when applicable. The property is let to Cherry Pie Tattoo Ltd until 27th May 2026 at a current passing rental of £10,500 per annum exclusive. The original lease dates from 1st April 2017 and was assigned to Cherry Pie Tattoo Ltd on 28th May 2021.

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Pricing Information & Bidding

Opening Bid: £59,000

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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Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

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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: 07 November 2024, 10am-3pm
Type: Timed Online Auction

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