OPENING BID

Timed Online Auction

08 September 2022, 10am-3pm

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

Description

Full Address: 1061 Shettleston Road, Betfred Investment, Glasgow, G32 7PE

1,850 Sq.Ft Brick built Mid-Terraced single storey Betfred Bookmakers Retail Premises with visible frontage onto Shettleston Road beside bus stop ***GREAT SPOT***WELL FITTED OUT***VAT FREE INVESTMENT.

Full Repairing and Insuring Lease. Tenant: Done Brothers (Cash Betting) Ltd. Expiry: February 2027 Passing Rent: £16,743.71 Option To Extend: The tenant has an option to extend for a further 15 years.

COMPRISES: Large open-plan retail accommodation with public front area and staff/customer toilets. Kitchen area found to the rear. Heating and cooling is provided by way of air conditioning units.

PRIME GRADE A Tenant - INVESTMENT LET @ £17,000 per annum (low rental) t/a BETFRED (£29 million PRE-TAX PROFITS) - BUSIER SIDE OF THE ROAD. Next door to the

Rarely Available Freehold Investment - Let to Betfred - Busy Location on Shettleston Road - The property is let on a full repairing and insuring lease -

Betfred Investment - Single storey commercial premises of traditional brick construction fitted out in accordance with Betfred corporate specification. Single fronted unit adjacent to The Drum Public Bar, with access via aluminium framed and double glazed door. COMPRISES: Large open-plan retail accommodation with public front area and secured service counter. Customer toilets are provided to the rear along with staff facilities to the rear via separate partitions and a fire exit door with access to the common service yard. IDEAL INCOME PRODUCING VAT FREE INVESTMENT *** NO VAT PAYABLE ON PURCHASE PRICE *** Only bookmaker on Parade. Busy trading unit beside local public house (The Drum Restaurant and Bar) and local police station. Great spot with on street customer parking situated within popular residential area.

Prime commercial premises located in the Shettleston area of Glasgow’s East End approximately 5 miles from the city centre. More specially the subject property is situated on the north side of Shettleston Road between its junctions with Chester Street and Evie Street within its prime section where neighbouring occupiers include “The Drum” Public House, Boots, Greggs and Anderson Maguire Funeral Directors. The area is further enhanced with the award winning Tollcross Park, Shettleston Library and the popular retailing destination of The Forge Shopping Centre and Retail Park. There is quick access to the M74 motorway providing further easy access to the M77 and M8 road network. Bus stop directly outside the property with direct routes to Glasgow City Centre and local train station at Shettleston.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2027
Rent: £16,744 per year / £1,395 per month
Yield: 8% (approx)
Tenant: Company
Notes: Tenant: Done Brothers (Cash Betting) Ltd Expiry: February 2027 Passing Rent: £16,743.71p.a. Option To Extend: The tenant has an option to extend for a further 15 years

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Location

Pricing Information & Bidding

Opening Bid: £186,000

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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.75% of Sale Price (Minimum £2,750 + 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: 08 September 2022, 10am-3pm
Type: Timed Online Auction

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