Address: 46 High Street
Size: 763 ft² (70.88 m²)
Price: £185,000

Location

Johnstone is the principal town within Renfrewshire having a population of circa 16,500 persons and benefiting from good transport links with the A737 providing access to Paisley, Glasgow and beyond, whilst the town itself also benefits from excellent railway links.

The unit occupies a 100% position within the High Street, with adjacent retailers being Poundland and Cheque Centre.

Accommodation

Following on from our measured inspection we would confirm the unit extends to the following areas and dimensions;

Gross Frontage:                   15’ 10”        (4.82 m)
Net Frontage:                       13’ 11”        (4.24 m)
NIA:                                           763 ft²        (70.88 m²)
ITZA:                                         564 units

Rateable Value

The property is entered in the Valuation Roll as follows:-

Description:                            Shop
Rateable Value: (‘18/’19):  £14,500

Energy Performance Certificate

The property has an EPC rating of F+. A copy of the Certificate can be provided upon request.

VAT

All terms are quoted net of VAT where applicable.

Lease Terms

The property was originally held on a 20 year lease with effect from the 29th June 1998. However due to the level of trade the Tenant has recently re-geared his lease.

The property is leased to Mr James Moorhead t/a Top Cards with effect from the 1st February 2014 expiring 31st January 2034 with no breaks. The rent is stepped as follows:-

Year 1:   £15,000
Year 2:   £16,000
Year 3:   £16,500
Year 4:   £17,000
Year 5:   £18,000

At the first rent review the rent shall increase to £19,000 per annum and thereafter the rent reviews, which are on a 5 yearly basis, shall be reviewed to the higher of full market rent or 2% annual compound interest over the preceding 5 years.

Investment Considerations
  • 100% prime location
  • Long established Tenant
  • Guaranteed uplifts throughout the lease term
Price

Offers in excess of £185,000 are sought for our client’s feuhold interest. 

Viewing/Further Information

Strictly through this office.