Well Secured Income with Additional Short Term Development Potential
Summary
Located in the established residential suburb of Maryhill, approximately 15 minutes drive north west of Glasgow town centre.
Situated just off the junction of Maryhill Road, One of the main arterial routes to the city and directly opposite a Tesco Extra Supermarket.
Let to JD Sports Gyms Limited with approximately 11 years to expiry and 6 years to break.
Current rent of £205,000 per annum reflecting £7.80 psf overall.
Total site area of approximately 0.87 hectares (2.15 acres).
Subject property includes a potential development site outside of the tenant’s demise fronting onto Maryhill Road. This site can be unlocked immediately and may be suitable for a variety of alternative uses (subject to planning).
Offers in excess of £2,268,000 (TWO MILLION, TWO HUNDRED AND SIXTY EIGHT THOUSAND POUNDS).
Net Initial Yield of 8.5% after allowance for purchaser’s costs of 6.31%.
