Tenanted Commercial Property LOT 194

144 Abercromby Street, Glasgow, G40 2SA
OPENING BID

Timed Online Auction

21 October 2021, 10am-3pm

Bidding Closes in

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

Description

Full Address: 144 Abercromby Street, Glasgow, G40 2SA

Commercial premises with Class 3 HOT FOOD UNIT and ALCOHOL SALE LICENSE consents. Located on main Abercromby Street thoroughfare connecting London Road and Gallowgate.

FRI signed lease agreement in place at £18,000 per annum. Leased signed for 10 years with break option at year 5. Established tenant with a number of commercial units in the area. Open 7 days a week.

Prominent site on parade of shops with good frontage, busy trading location as near local supermarket, pharmacy and health centre. Fully refurbished. Electric Roller Shutters with alarm.

High visibility UNIT with MAIN ROAD FRONTAGE in Glasgow city centre near Glasgow Green and Glasgow Club Crown point. Currently traded as two units with Class 1, 2 and 3 retail consents.

Rates Exempt. Use class orders: A1 Shops, A2 Financial and Professional Services, A3 Restaurants and Cafes and A5 Hot Food Take away. Tenure: Freehold. Close Proximity to Glasgow City Centre.

Double fronted commercial premises fitted out to a good standard, creating a bright and welcoming environment for customers. Located on the ground floor of a two storey traditional building, of brick construction. The upper floors are in use as residential dwellings. The property benefits from two large display windows either side of a single entrance door. ATM machine installed in premises. Both windows and the door benefit from a secure electric roller shutter and alarm. Above this the property has ample room for signage (Currently: Current rent is EIGHTEEN THOUSAND POUNDS (£18,000) per annum STERLING payable MONTHLY in advance. £1,500 per month. Internally, the property has an open plan sales area to the front, with a store cupboard situated in this area. To the rear of the property there is a kitchen, toilet and further storage/office space. Opportunity to purchase a freehold (Outright Ownership) for a set up retail premises within established residential locale. Affordable Investment within popular area near to Glasgow Green and The People's Palace.

The site is located on the south eastern outskirts of Glasgow City Centre, on Abercromby Street which lies approximately 1 mile to the east of Buchanan Street, Glasgow’s Prime Retail Centre. The location benefits from access to excellent transport connections with Glasgow Central and Queen Street Train Stations and Buchanan Bus Station, all situated within walking distance of the site. The Bridgeton/Gallowgate area of Glasgow is a thriving mixture of independent retailers, bars and restaurants, and is easily under a minutes’ walk from the Bridgeton Station making the location of the business exceptionally attractive to potential purchasers looking for a prime location business operation. Glasgow is the largest city in Scotland and the fourth largest in the United Kingdom, after London, Birmingham and Leeds. As of the 2011 census, the city had a population density of 3,395 people per square kilometre. The city offers many amenities for a wide range of educational studies and cultural activities, from curling to opera, ballet, sporting and musical events.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Annual
Rent: £18,000 per year / £1,500 per month
Yield: 13% (approx)
Tenant: Private Individual
Notes: 10 year FRI signed lease agreement signed February 2021 for £18,000 per annum. Break options in year 5 (Feb 2026). Landlord holds 2 months rent for deposit - £3,000.

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Location

Pricing Information & Bidding

Opening Bid: £120,000

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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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: 21 October 2021, 10am-3pm
Type: Timed Online Auction

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