For Sale By Auction | 14:00, 19 September 2019

5B, Well Street, Paisley, Renfrewshire, PA1 2SS

*Guide | £25,000+ (plus fees)

  • Commercial Property
  • Tenure: Freehold

Call the team on 0141 339 4466 for more information

Auction Date

Thu 19/09/2019

Auction Time

14:00

Auction Venue

Radisson Red, 25 Tunnel Street, Glasgow, G3 8HL

Commercial unit

Enjoy rental income from day one with this exciting commercial unit. The property enjoys prime on street position and is centrally located within Paisley. The property has been operated by the existing tenant as a hair salon for around 20 years with the current FRI lease extending to 1st June 2020 and the tenant is very keen to commit to a new lease beyond expiry of current. With a current rental of £3,535 per annum the rental yield is in excess of 14% and, with tenant in situ, this rental income is produced from day one. The surrounding area is understood to have regeneration plans ongoing which can only benefit businesses operating in the area. The floor area of the salon extends to approximately 35 sq. metres (378 sq. feet) being split over a main front and smaller rear area with small WC/store. The current rateable value is published as £2100 with the tenant assuming any rates liability that may be payable. With a tenant in situ and keen to extend, this unit represents an ideal addition to an existing commercial portfolio.

Tenure

Freehold

Rental income from day one

Existing rental yield in excess of 14%

Tenant in situ and keen to extend

Convenient central paisley location

Current rental income £3,535pa

Area

Well Street is conveniently located within a mile of Paisley town centre with a range of leisure and retail facilities on offer. Bus and rail links are excellent and the M8 motorway is easily reached to connect Paisley to Glasgow and further afield.

Local Authority

Renfrewshire Council

Additional Fees

Administration Charge - Purchasers will be required to pay an auction fee of 1% of the purchase price subject to a minimum of £3,000 inc VAT unless otherwise stated

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