Property

• Prime Property Auctions New Entry. Fantastic High Yielding Commercial Investment located on a busy thoroughfare of Hamilton. Current Gross rent of £29,000.
• The lot consist of 2 hot food takeaways. Unit 21A is let at £15,000 and Unit 21B is let at £14,00 per annum.
• Benefits include immediate cashflowing investments from day one, Personal guarantee on lease and car park to the rear.
• Property has Guide price of £275,000. Properties would provide a gross yield of 10.5% if achieved for Guide Price.
• Sure to appeal to investor looking for ready let investments in sought after locale. Combined rental income of £29,000 per annum. * FANTASTIC INVESTMENT *

 

Prime Property Auctions New Entry. Fantastic High Yield Investment located on a busy thoroughfare of Hamilton. Current Gross rent of £29,000.

* FANTASTIC INVESTMENT *

Property has Guide price of £275,000. Properties would provide a gross yield of 10.5% if achieved for Guide Price.

 

The subjects comprise two adjacent ground floor hot food takeaway units within a 2 storey building of masonry construction. The roof is pitched and appears to be clad in slate tiles. There are offices on the upper floors. There is access to the rear for loading purposes. Unit 21a has a single allotted parking space and Unit 21b has two. Both shops have aluminium glazed frontages under nonilluminated fascia boards and are accessed via single pedestrian doors. Unit 21a is currently undergoing a full renovation for conversion into a pizza franchise. Unit 21b is an established contemporary sushi bar. The floor is covered in commercial vinyl and the walls are a mix of plaster/paint and splashbacks. The ceiling is of suspended grid incorporating LED box lighting. The kitchen and welfare facilities are provided to the rear of the shop

 

Rateable Value is stated as: Unit 21a - £11,200 effective from 1st April 2023. Unit 21b - £11,900 effective from 1st April 2023.

21a extends to 1,006 sq ft (93.46sqm)

21b Sales, extends to 1,048 sq ft  (97.32sqm)

Unit 21a is let on a 10 year lease that commenced 06/09/22 and expires 05/09/32. The passing rent is £15,000 per annum. The lease is subject to a break option and upwards only rent review on 06/09/27. A Personal Guarantee has been provided over the lease. Unit 21b is let on a 10 year lease that commenced 05/05/21 and expires 04/05/31. The passing rent is £14,000 per annum. The lease is subject to a break option and upward only rent review on 05/05/26.

The properties have been elected for VAT, and therefore VAT, will be payable on the purchase price. It is anticipated that the transaction will be treated as a Transfer of Going Concern (TOGC).

Property has a Guide price of £275,000 and is sure to appeal to investors looking Turn Key Investment properties with great tenants.

High yielding investment property.

This lot is open to immediate offers. Should you wish to offer NOW, you can do so via our “Make an Offer” button on our website.

This property is offered at a fantastic price to ensure an Auction sale.

 

 

Location:

Location Hamilton is a large town in South Lanarkshire, Scotland and serves as the main administrative centre of the council area. It sits approximately 9 miles south-east of Glasgow, 37 miles south-west of Edinburgh and can be accessed from Junction 6 of the M74 motorway.  The property is located on the east side of Gateside Street (A723), close to its junction with Woodside Walk and situated approximately 300 metres south of the pedestrianised section of Quarry Street, the town's main shopping street in a mixed commercial and residential area. Gateside Street (A723) carries a high traffic volume at most times of day with shops occupied by an interesting mix of national and local traders. Hamilton Central Train Station takes less than a 5 minutes walk to reach.