• Multi-let unbroken retail parade investment

• Let to established local tenants

• Asset management opportunities

• Heritable interest

• VAT free investment

• £475,000, subject to contract

• 8.83 % net initial yield rising to 9.74% on letting of Unit 3

The property is situated on the north side of Main Street and occupies a prominent main road position. The surrounding area is predominantly residential with a mixture of private and Local Authority housing. There are other retailers in the vicinity including William Hill and Ladbrokes. There is free on-street parking and a public car park directly opposite the property.

Immediately to the west of the parade is a site which has been granted planning permission for construction of a 4 bedroom private dwelling.

The property comprises a single storey purpose built retail parade comprising six shops. The external elevations are of modern facing brick with pitched slated roof and uPVC gutters and downpipes. The units have modern aluminium framed shopfronts with display fascia’s above and roller shutters. Internally, each unit has a modern shopfit in keeping with their respective uses.

There is a residential dwelling to the rear which is in separate ownership.

Heritable (Scottish equivalent of English freehold).

Tenancy

The property is let to 4 tenants on individual leases all of which are Full Repairing and Insuring.

Unit 3 is currently vacant. The current rental income is £43,735 per annum.  Please see the attached tenancy schedule for further information.

We are advised that VAT is not charged on the rents and therefore there will be no VAT payable on the purchase price.

Each party shall be responsible for their own legal costs incurred in the transaction, with the purchasers responsible for LBTT.

1. Opportunity to acquire an unbroken retail parade with extensive frontage to one of the main thoroughfares for the town;

2. Asset management opportunities including undertake rent reviews, let Unit 3 and agree new lease terms for Unit 5,

3. Multi-let providing an investor with a spread of income;

4. Attractive lot size for an investor;

5. VAT free investment

6. A purchase at the asking price reflects an attractive net initial yield