The property occupies a prominent position in Minard Road situated within Crossmyloof a busy residential suburb of Glasgow, with the property itself being a short walk from Shawlands Cross.
The property benefits from being located within an area primarily residential in nature, benefiting from a strong residential and vehicular footflow. Nearby commercial occupiers include The Bridge Café, Suzuki Garage and Hutchesons Private School.
The property is a single storey demise offering accommodation over ground and basement floors. From our measured inspection the unit offers the following areas and dimensions:
Gross Frontage: 29’ 11” (9.12 m)
Net Frontage: 28’ 8” (8.73 m)
Ground NIA: 669 ft² ( 62.15 m² )
Basement: 536 ft² ( 49.79 m² )
The property is held on the residue of a full repairing and insuring lease which does not expire until the 31st January 2047. The current passing rent is £15,000 per annum, with the rent being subject to an outstanding rent review from 31st January 2020. The Landlord also holds a deposit of £4,000 which will be held until the 5th anniversary of the lease when it will be returned on the proviso that the Tenant has fulfilled all of their obligations under the terms of the lease.
The property has an EPC rating of F. A copy of the certificate is available upon request.
The tenant has paid rent throughout the various lockdowns.
The opportunity offers a long term income stream with provision for regular rent reviews.
In our view the property would be ideal for a number of alternative uses, especially Sui Generis/Class 3 occupier.
All terms are quoted net of VAT where applicable.
Offers in excess of £180,000 are sought, which would reflect an attractive net initial return of 8.299% after costs.
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.
Strictly through this office.
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| Glasgow - 106 Minard Road 111121.pdf |