Tenanted Commercial LOT 57

31-37 Main Street, Wishaw, ML2 7AF
BIDDING OPENS in...
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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

3,913sq ft Town Centre Retail Premises comprising Full Building Held On F.R.I Lease by Celebrations Scott Ltd at Passing Rent: £20,000p.a. Expiry: 14th September 2033. Review 2028. Great Investment!!

The property extends to the following floor area: Ground: 283.8sqm (3,055sq ft) 1st: 79.72sqm (858sq ft) Total: 363.52sqm (3,913sq ft)

Tenant: Celebrations Scott Ltd Lease 15th September 2023 - 14th September 2033. Tenant Break: 15th September 2028. Rent Review 5 Yearly Passing Rent: £20,000p.a

he property is situated in North Lanarkshire within the town centre of Wishaw. Wishaw is located approximately 20 miles East of Glasgow City Centre and 38 miles to the West of Edinburgh.

The location serves as the main retailing parade in Wishaw with occupiers being a mix of local and national covenant strength. Some examples include Bank of Scotland, Greggs Plc and Lloyds Pharmacy.

The property comprises the ground floor of a larger 2-storey building of stone construction. The property benefits from a large attractive glazed frontage onto Main Street which carries high levels of both pedestrian and vehicular traffic. Internally, the property is laid out in a predominantly open plan fashion with the majority of the space being utilised for sales purposes. The upper floor is accessed via a single staircase to the rear providing ancillary storage. The property extends to the following floor area: Ground: 283.8sqm (3,055sq ft) 1st: 79.72sqm (858sq ft) Total: 363.52sqm (3,913sq ft) The property is held on a full repairing and insuring lease on the following terms; Tenant: Celebrations Scott Ltd Lease 15th September 2023 - 14th September 2033. Tenant Break: 15th September 2028. Rent Review 5 Yearly Passing Rent: £20,000p.a

The property is situated in North Lanarkshire within the town centre of Wishaw. Wishaw is located approximately 20 miles East of Glasgow City Centre and 38 miles to the West of Edinburgh. The location serves as the main retailing parade in Wishaw with occupiers being a mix of local and national covenant strength. Some examples include Bank of Scotland, Greggs Plc and Lloyds Pharmacy. Wishaw benefits from nearby access to Junction 6 of the M8 Motorway to the North and Junction 7 of M74 to the South, both of which connect with major road networks throughout Scotland. The location benefits from nearby access to Wishaw Train Station which is located less than a mile away. This provides a direct route to and from the city centre of Glasgow, as well as neighbouring towns

Full Address: 31-37 Main Street, Wishaw, ML2 7AF

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2033
Rent: £20,000 per year / £1,667 per month
Yield: 11% (approx)
Tenant: Company
Notes: Tenant: Celebrations Scott Ltd Lease 15th September 2023 - 14th September 2033. Tenant Break: 15th September 2028. Rent Review 5 Yearly Passing Rent: £20,000p.a

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Pricing Information & Bidding

Opening Bid: £179,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £1,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Buy Now Price = £210,000

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Auction Details

Date & Time: 16 May 2024, 10am-3pm
Type: Timed Online Auction

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