WELL LET RETAIL INVESTMENT
Johnstone is the principal town within Renfrewshire having a population of circa 16,500 persons and benefiting from good transport links with the A737 providing access to Paisley, Glasgow and beyond, whilst the town itself also benefits from excellent railway links.
The unit occupies a 100% position within the High Street, with adjacent retailers being Poundland and Cheque Centre.
Following on from our measured inspection we would confirm the unit extends to the following areas and dimensions:
Gross Frontage: 15’ 10” (4.82 m)
Net Frontage: 13’ 11” (4.24 m)
NIA: 763 ft² (70.88 m²)
ITZA: 564 units
The property is entered in the Valuation Roll as follows:-
Rateable Value: (‘20/’21): £14,500
The property has an EPC rating of F+. A copy of the Certificate can be provided upon request.
All terms are quoted net of VAT where applicable.
The property was originally held on a 20 year lease with effect from the 29th June 1998. However due to the level of trade the Tenant has recently re-geared his lease.
The property is leased to Mr James Moorhead t/a Top Cards with effect from the 1st February 2014 expiring 31st January 2034 with no breaks. The rent is currently £19,000 per annum exclusive.
The rent falls to be reviewed on a 5 yearly basis and shall be reviewed to the higher of full market rent or 2% annual compound interest over the preceding 5 years.
Offers in excess of £195,000 exclusive are sought for our client's feuhold interest.
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 agreeent of Heads of Terms.
Strictly through this office.
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