Tenanted Commercial Property LOT 225

999 Tollcross Road, Glasgow, G32 8UT
OPENING BID

Timed Online Auction

21 May 2021, 10am-4pm

Bidding Closes in

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 999 Tollcross Road, Glasgow, G32 8UT

Fantastic opportunity to purchase large commercial premises occupying prime position on Tollcross Road. Unit extends to approx. 8,382 Sq.Ft. Currently tenanted at 23,000 per annum

The restaurant comprises first floor, benefitting from dual entrances on Dalness St and Tollcross Rd. Comprises; Open plan Dining area, male/female W/c, Office, dry Store, staff area and dining area

Suitable for a range of uses and possible re-development to a gym, pool hall, business centre, office, sports bar or showroom. Potential for sub-division (subject to gaining relevant consents).

The subjects are located in Tollcross, a mixed residential and commercial neighborhood situated approximately 4 miles east of Glasgow City Centre. Presented of freehold sale. FRI lease at 480 p/m

Ideal investment property generating excellent rental. Located above Co-op Food Store, local pharmacy, medical centre, 4 schools and approx. population of 7,000 people within 5 minute catchment area.

Fantastic opportunity to purchase large commercial premises occupying prime position on Tollcross Road. Unit extends to approx. 8,382 Sq.Ft. (778.71 Sq.M). The restaurant comprises the first floor, benefitting from dual entrances on Dalness Street and Tollcross Road. Comprises; Open plan Dining area, W/C Facilities, managers Office, dry Store, staff area, private dining area and walk in fridges. Suitable for a range of alternative uses and possible re-development to a gym/exercise premises, pool hall, business centre, offices, sports bar or showroom. Potential for sub-division (subject to gaining relevant consents). Restaurant premises on FRI lease terms 23,000 per annum. Tenant responsible for all bills and outlays. Ideal investment property would generate an excellent rental return close to Co-op Food, Pharmacy, Medical Centre, 4 schools and 7,000 people within 5 minute catchment area

Tollcross Road is well positioned for local amenities. These include bars, shops, restaurants and supermarkets. The Forge Shopping Arena is close at hand and Tollcross Park is within striking distance and is an attractive location for scenic walks. The local area is a popular residential district with a large Student, Key Workers and Young Professional local population living within the immediate vicinity of this property. Near by Duke Street is host to a number of national tenants including: Boots the chemist, Ladbrokes, William Hill, Optical Express, & Banks. The subjects are situated in Tollcross, a mixed residential and commercial neighbourhood situated approximately 4 miles east of Glasgow City Centre.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Long Term
Rent: 23,000 per year / 1,917 per month
Yield: 9% (approx)
Tenant: Private Individual
Notes: Restaurant premises on FRI lease. Waiting on confirmation of details

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Location

Pricing Information & Bidding

Opening Bid: £213,000

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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 21 May 2021, 10am-4pm
Type: Timed Online Auction

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