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Description
INCOME PRODUCING INVESTMENT*** Ground Floor retail Unit in Prime High Street Position. Tenanted producing £16,000 per annum on a FRI Lease. City Centre Location
The property is held on a full repairing and insuring head lease on the following terms; Tenant: Michelle United Ltd Expiry: 14th April 2033 Passing Rent: £16,000p.a.x. Review: April 2028
The property offers a single frontage with open plan retailing space with partitioned w.c and tea prep to the rear. The property benefits from a mezzanine level used for ancillary storage.
The area has been calculated to extend to the following net areas: Ground: 52.49sqm (565sq ft) Mezz: 10.21sqm (110sq ft) Total: 62.70sqm (675sq ft)
PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £16,000 PER ANNUM
INCOME PRODUCING INVESTMENT*** Ground Floor retail Unit in Prime High Street Position. Tenanted producing £16,000 per annum on a FRI Lease. City Centre Location The property is held on a full repairing and insuring head lease on the following terms; Tenant: Michelle United Ltd Expiry: 14th April 2033 Passing Rent: £16,000p.a.x. Review: April 2028 The property offers a single frontage with open plan retailing space with partitioned w.c and tea prep to the rear. The property benefits from a mezzanine level used for ancillary storage. The area has been calculated to extend to the following net areas: Ground: 52.49sqm (565sq ft) Mezz: 10.21sqm (110sq ft) Total: 62.70sqm (675sq ft) PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £16,000 PER ANNUM
Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)Length: 7 Years
Rent: £16,000 per year / £1,333 per month
Yield: 14% (approx)
Tenant: Private Individual
Notes: Tenant: Michelle United Ltd Expiry: 14th April 2033 Passing Rent: £16,000p.a.x. Review: April 2028 Use: The property is utilised as a hair salon, the tenant has been in situ since April 2008
Maps & Location
Map Street View SatelliteThe property is situated on the south side of High Street on a busy thoroughfare and vehicular system through the town. University of the West of Scotland lies nearby, with the Paisley Museum & Art Gallery located close to the property. The University of the West of Scotland (UWS), West College Scotland, Renfrewshire Council HQ and the main courts are all within a short walking distance and the immediate area, including the former Paisley Shopping Centre, is subject to regeneration and repurposing into a mixed-use commercial, residential and student accommodation area.
Document Downloads
Pricing Information & Bidding
Opening Bid: £112,000
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Terms & Conditions of Sale
- 10% Deposit (Minimum £3,000)
- Standard Completion (Unless specified differently in any Special Conditions of Sale)
- Buyers Fee = 1% of Sale Price (Minimum £2,500 + vat)
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STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request an earlier or later completion date which will be detailed in any Special Conditions of Sale for this lot. Buyers must satisfy themselves prior to bidding as to the terms on offer for each property which may differ in deposit amount, completion and buyers fee.
* If no Special Conditions of Sale are present in the legal docs download bidders are advised to request a copy by email prior to bidding.
General Terms & Conditions of Sale
Lot Specific Terms - 10-12High Street, Paisley