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Description

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

LET £22,000 pa rising to £26,000 Established Town Centre GREENOCK LOCATION with Prominent CORNER Position over Ground & Basement 10 YEAR FRI LEASE FROM 22/08/2023. IMMEDIATE RENTAL INCOME OF £22,000pa

WAS historically sold for £450,000. Internally the property is formed over a split level. approximately 325.15 sq m (3,500 sq ft) of accommodation on ground floor and basement.

PRIME CORNER SPOT with catchment population over 100,000 people. Neighbouring occupiers include the Head Post Office, Cafe Monza, Yorkshire Building Society, Greenock Town Hall.

Situated on the north side of Cathcart Street, at its junction with Cross Shore Street. EXCELLENT TRADING LOCATION***

Greenock is a town and administrative centre in the Inverclyde council area in Scotland and a former burgh within the historic county of Renfrewshire, located in the west central Lowlands of Scotland.

10 YEAR FRI LEASE FROM 22/08/2023***IMMEDIATE RENTAL INCOME OF £22,000 per annum*** The property comprises a substantial ground floor and basement within a larger 3 storey blonde sandstone traditional development. The property benefits from a prominent return frontage with large windows around the perimeter. Situated on the north side of Cathcart Street, at its junction with Cross Shore Street. EXCELLENT TRADING LOCATION*** Greenock is a town and administrative centre in the Inverclyde council area in Scotland and a former burgh within the historic county of Renfrewshire, located in the west central Lowlands of Scotland. PRIME CORNER SPOT with catchment population over 100,000 people. Neighbouring occupiers include the Head Post Office, Cafe Monza, Yorkshire Building Society, Greenock Town Hall.

Greenock is a town and administrative centre in the Inverclyde council area in Scotland and a former burgh within the historic county of Renfrewshire, located in the west central Lowlands of Scotland. It forms part of a contiguous urban area with Gourock to the west and Port Glasgow to the east.

Full Address: 96-100 Cathcart Street, Greenock, PA15 1BB

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Plans

96-100  Cathcart Street  Greenock

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 10 years from 22.08.2023
Rent: £22,000 per year / £1,833 per month
Yield: 16% (approx)
Tenant: Company
Notes: Rent Review on 5th year, subject to a rising uplift in 2026

Document Downloads

Lease Documentation (Available) Legal Pack (Available)

Pricing Information & Bidding

Opening Bid: £141,000

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 = £165,000

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Auction Details

Date & Time: 02 May 2024, 10am-3pm
Type: Timed Online Auction

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