Property for sale

Unit B, 73 Neilston Road, Paisley PA2

Description

The subjects comprise a ground floor takeaway within a 4 storey blonde sandstone building. The upper floor appears to be residential in nature. The roof is pitched and covered in slate.

The property is accessed via a single flush aluminium framed pedestrian door which leads into the waiting area. The commercial kitchen is, as expected, fitted out to a professional standard with extract ventilation and a range of stainless steel sink units, utility basins and fitments. A comprehensive range of floor and wall mounted style units are installed with appropriate worktops. The floor is covered in tiles, walls covered with PVC and stainless steel splashbacks. A store room and WC are provided.

Location

Paisley is a large town situated in the west central Lowlands of Scotland. Located north of the Gleniffer Braes, the town borders the city of Glasgow and straddles the banks of the White Cart Water, a tributary of the River Clyde. Glasgow is located less than 10 miles to the east and is highly accessible via the M8 Motorway.

The property is located in the Charleston area of Paisley, approximately one mile south of the town centre. The property is situated on the east side of Neilston Road a short distance south from the junction with Rowan Street. Neilston Road forms part of an arterial route south of the town. Paisley Canal Railway Station is located close by to the property, as are local bus routes. Surrounding occupiers include Co-op Food, Subway, Greggs and Paddy Power.

Tenancy

The property is let on a 20 year full repairing and insuring lease that commenced in December 2024, at a rent of £14,300 per annum. The rent is subject to upward only open market rent reviews, with a minimum 10% uplift in rent at every 5th anniversary. There are no lease break options. The lease is secured by a personal guarantor.

Price

Offers over £155,000 are invited for the heritable interest (Scottish equivalent to English Freehold) subject to the lease agreement in place. Based on a rental income of £14,300 per annum a purchase at this level would reflect a gross initial yield of 9%.

Rateable Value

According to the Scottish Assessors Association, the subjects have a Rateable Value of £4,700.

EPC

A copy of the EPC is available upon request.

VAT

For the avoidance of doubt, all figures and prices are quoted exclusive of VAT.

What3Words

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