Address: 125 George Street
Size: 1,535 ft² (138.88 m²)
Price: £109,000

VAT Free Retail Investment For Sale
Location

Oban is the principal town of North Argyll serving a large area of the Highlands and Islands. The town has an all year round tourist trade and benefits from having a ferry port offering daily sailings to a variety of islands together with a railway station offering regular services from Glasgow.

The unit offers a prominent position within George Street. Nearby retailers are a mix of multiple and local traders to include R S McColl, Oxfam,The Jetty and Fat Face.

Description

The property comprises the ground and basement floors within a single storey development.

Accommodation

From our measured inspection we would confirm the property offers the following areas and dimensions:

Gross Frontage:                   20’ 7”           (6.26 m)
Net Frontage:                       19’ 0”           (5.79 m)
Ground floor:                       1,185 ft²      (110.8 m²)
Basement:                               350 ft²       (32.50 m²)

Total:                                    1,535 ft²       (138.88 m²)

ITZA                                     913 units

Lease Terms

The property is leased to Phone Clinic 4 U and is held on the residue of an existing full repairing and insuring lease expiring 14th February 2022.

The passing rent is £12,000 per annum and there are no further reviews.

Rates

The property is entered in the Valuation Roll as follows:-

Description:                          Shop     
Rateable Value (‘22/’23):    £14,600

VAT

The property is not elected for VAT.

Energy Performance Certificate

A copy of the EPC is available on request.

Proposal

Offers in excess of £109,000 are sought which would show a net initial return after costs of 10.81%.

Legal Costs

Each party to be responsible for their own legal costs with the purchaser being responsible for registration dues and LBTT incurred thereon

Money Laundering Regulations

To comply with Money Laundering Regulations we are legally required to undertake due diligence on prospective purchasers/tenants which will at a minimum include proof of identity/address and funding.  Applicable documentation will therefore be required on agreement of Heads of Terms.

Further Information

Strictly through this office.