Paisley is located c. 11 miles west of Glasgow city centre in immediate proximity to Glasgow Airport and enjoys an estimated primary retail catchment of 170,000.
The subjects are within a highly successful new build development completed in 2019, located on the outbound side of the A761, approximately 2 miles to the west of Paisley Town Centre and en-route to Phoenix Retail & Leisure Park, Johnstone, Elderslie and Kilbarchan.
Now known as Ferguslie Retail Park, the development is otherwise fully let to Greggs, The Chippy, Lifestyle Express, Indigo Sun and benefits from 25 dedicated parking spaces.
The subjects comprise a new build unit to shell specification with shopfront and from our measured inspection areas are as follows:
Frontage: 33’ 10” (10.31m)
Internal Width: 36’ 2” (11.02m)
Depth: 42’ 7” (12.98m)
Gross Internal Area: 1,538 ft² (142.88m²)
The premises are let to D P Realty Ltd T/A Dominos and has been declared surplus to requirements due to multiple representation in the area. The FRI lease subsists for a term of 20 years commencing 5th April 2019 at a rent of £30,000 per annum with provision for 5 yearly rent reviews and a single tenant break option as at 4th April 2029.
Premium offers are invited on the basis of an assignment, alternatively a new lease may be available via the landlord, terms on application.
We understand that the subjects enjoy Class 1, 2 & 3 Consent including Sui Generis Hot Food Use. Interested parties are advised to seek verification from Renfrewshire Council Planning Department.
The premises are valued for rating purposes as follows:
Rateable Value: £32,500
Estimated Rates payable (23/24): £16,185
(exclusive of water and sewerage rates)
All terms are quoted net of VAT where applicable.
Each party will be responsible for their own legal costs incurred in connection with this transaction.
Immediate entry is available on completion of all legal formalities.
To be assessed by the Tenant once occupied.
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 by appointment through this office