Tenanted Commercial Property LOT 53

118-120 Merry Street, Motherwell, ML1 1NA
OPENING BID

Timed Online Auction

12 March 2021, 10am-4pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 118-120 Merry Street, Motherwell, ML1 1NA

Town Centre Commercial Investment comprising TWO tenanted units with an Combined Rental income of 21,240 Per Annum. EXCELLENT INVESTMENT OPPORTUNITY***

Ground Floor - Tenanted fish & chip shop extending to approx. 814 Sq. Ft. currently LET at 1,170PCM (14,040 Per Annum) until 25th November 2039. BUSY TRADING LOCATION.

First Floor is occupied by a Beauticians, the unit extends to approx. 645 Sq. Ft. and is tenanted at 600PCM (7,200 Per Annum) until 12th February 2022. On street parking available.

Ideal purchase for landlord or Investor looking to build/increase size of portfolio. Currently tenanted at 21,240 Per Annum. Great return on Investment.

Prominent position on the preferred south side of Merry Street. Busy TOWN CENTRE location with high passing trade. Just a short walk to Motherwell Train Station.

Town Centre Commercial Investment comprising TWO tenanted units with an Combined Rental income of 21,240 Per Annum. EXCELLENT INVESTMENT OPPORTUNITY*** Ground Floor - Tenanted fish & chip shop extending to approx. 814 Sq. Ft. currently LET at 1,170PCM (14,040 Per Annum) until 25th November 2039. BUSY TRADING LOCATION. First Floor is occupied by a Beauticians, the unit extends to approx. 645 Sq. Ft. and is tenanted at 600PCM (7,200 Per Annum) until 12th February 2022. On street parking is available on Merry Street itself and there is a car park and service area to the rear. Ideal purchase for landlord or Investor looking to build/increase size of portfolio. Currently tenanted at 21,240 Per Annum. Great return on Investment. Prominent position on the preferred south side of Merry Street. Busy TOWN CENTRE location with high passing trade. Just a short walk to Motherwell Train Station. Nearby occupiers include Subway, TSB Bank, McDonalds, Pizza hut, Nationwide Building Society and Iceland.

Prominent position on the preferred south side of Merry Street, a very busy secondary thoroughfare and arterial route just to the east of Motherwell town centre. Just a short walk to Motherwell Train Station. Nearby occupiers include Subway, TSB Bank, McDonalds, Pizza hut, Nationwide Building Society and Iceland. On street parking is available on Merry Street itself and there is a car park and service area to the rear.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length:
Rent: 21,240 per year / 1,770 per month
Yield: 10% (approx)
Tenant: Private Individual
Notes: Ground Floor let at 1,170PCM (14,040 P/Annum) until 25th November 2039. First Floor let at 600PCM (7,200 P/A) until 12th February 2022.

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Location

Pricing Information & Bidding

Opening Bid: £157,500

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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 1.25% of Sale Price (Minimum £2,500 + vat)

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

Auction Details

Date & Time: 12 March 2021, 10am-4pm
Type: Timed Online Auction

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