Tenanted Commercial Property LOT 110

55-57 Main Street, Coatbridge, ML5 3BA
GUIDE PRICE

Deadline for Offers

16 April 2021, 4pm

Bidding Closes in

Submit Offer Now
  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 55-57 Main Street, Coatbridge, ML5 3BA

**VAT FREE COMMERCIAL INVESTMENT ** Large, Tenanted, Town Centre commercial/retail unit set over 2 floors with settled tenant paying 25,000 PER ANNUM on 10 year lease until 2029. FULL BUILDING

***PREVIOUSLY TENANTED FOR 100,000PER ANNUM*** with realistic current rental potential of 50,000 per annum in sought after retail location with nominal rent of 25,000 being paid by current tenant (review 2023).

SUPER SIZE (former Woolworths) Property extends to 1,505 sq.m (16,200 sq.ft) -Main retail are on ground Floor-773 sq.m (7,890 sq.ft) First Floor comprises of storage and staff welfare facilities.- 772 sq.m (8,310 sq.ft).

EXTREMELY PROMINENT TOWN CENTRE LOCATION with neighbouring occupiers including Poundland, Greggs, Boots, Asda, Bank of Scotland, Ladbrokes, Brighthouse and the Coatbridge Shopping Centre

Coatbridge has a resident population of over 40,000 persons and is situated approximately 11 miles east of Glasgow and 30 miles west of Edinburgh. PERFECT INVESTMENT PROPERTY. Deposit of 10,000 held by landlord.

VAT FREE INVESTMENT. No VAT payable. 10,000 deposit held by landlord- to be transferred to new owner. **PRIME COMMERCIAL INVESTMENT OPPORTUNITY** Large, Tenanted, Town Centre, commercial/retail unit set over 2 floors with settled tenant paying 25,000 PER ANNUM on 10 year lease until 2029. ***PREVIOUSLY TENANTED FOR 100,000 PER ANNUM*** with realistic current rental potential of 50,000 per annum in sought after retail location with nominal rent of 25,000 being paid by current tenant (review 2023). Property extends to 1,505 sq.m (16,200 sq.ft) -Main retail are on ground Floor-773 sq.m (7,890 sq.ft) First Floor comprises of storage and staff welfare facilities.- 772 sq.m (8,310 sq.ft). EXTREMELY PROMINANT TOWN CENTRE LOCATION with neighbouring occupiers including Poundland, Greggs, Boots, Asda, Bank of Scotland, Ladbrokes, Brighthouse and the Coatbridge Shopping Centre.

Coatbridge has a resident population of over 40,000 persons and is situated approximately 11 miles east of Glasgow and 30 miles west of Edinburgh. PERFECT INVESTMENT PROPERTY.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2029
Rent: 25,000 per year / 2,083 per month
Yield: 7% (approx)
Tenant: Private Individual
Notes: 10 year FRI lease 2019-2029. No break option. Rent review 2023 10,000 deposit held by landlord

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Location

Pricing Information & Bidding

Guide Price: £370,000


What is a Guide Price... Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change prior to the auction.

Offer Now... You may submit an offer now on this property for the owner to consider ahead of the set auction. 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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 16 April 2021, 4pm
Type: Deadline for Offers

View Full Auction Catalogue

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