Multiple tenanted commercial unit

Commercial landlords can enjoy rental income from day one with this multiple tenanted office unit in Rothesay. Over three floors, and extending to approximately 790 sq. metres, the property is currently occupied by two tenants. The ground and first floor is occupied by the Department of Work and Pensions who have been in situ since April 2021 with lease term to end March 2031 and a passing rent of £20,630 per annum. There is a break clause and rent review option on 2nd April 2026. The second floor is occupied by a marketing firm from July 2024 with lease term to June 2030 and a passing rent of £7,863 per annum. There is a break clause in March 2026 and rent review option in January 2027. The cumulative rent of £28,493 per annum represents an attractive 11.4% rental yield with the added bonus of strong tenant covenant, particularly on ground and first floors. This is sure to attract strong demand from those looking for a high yielding addition to a commercial portfolio. Early viewing is essential.

Tenure

Freehold

Area

Rothesay is the principal town on the Isle of Bute and enjoys a vibrant local community as well as being continually popular as a holiday destination with the regular ferry access making connections with Glasgow and further afield quick and easy. Rothesay offers a wide range of leisure and retail facilities as well as being well served by educational facilities.

Energy Efficiency Rating (EPC)

Current Rating E

Local Authority

Argyll and Bute Council

Additional Fees

Administration Charge - 3.6% inc VAT of the purchase price, subject to a minimum of £3600 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.