44-50 Kilmarnock Road, Shawlands_Property for Sale

44-50 Kilmarnock Road, Glasgow, G41 3NH, UK

44-50 Kilmarnock Road, Shawlands

Asset Description

Glasgow is the largest city in Scotland with a population of over 635,000. The city has an extensive catchment, with the Greater Glasgow conurbation extending to approximately 2.3 million people within a one-hour drive time.
The asset is located in Shawlands, an affluent suburban district, situated approximately 2 miles south of Glasgow City Centre.
Prominent Kilmarnock Road location, which constitutes the principal thoroughfare for the suburb. Kilmarnock Road forms the retail, culture and leisure centre of Shawlands with an abundance of quality pubs, restaurants and coffee shops.
The property comprises four mid-terrace retail units with frontage, ranging from 1,500 sq ft - 6,000 sq ft individually. The combined area is 11,872 sq ft.
Each demise is arranged over the ground floor, with 44 and 46 Kilmarnock Road having part of the first-floor accommodation to the rear, used for staff and storage purposes.
The subject is located on the northern aspect of Kilmarnock Road, in close proximity to the renowned Shawlands Arcade.

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Attributes

Building area net

1,103 m²

Occupancy

100%

Number of units

WAULT

6.79 years

Asking price

NZ$1,667,000

NOI

NZ$193,000

Media

Investment Highlights

Fully-let to a range of local and national tenants, including Salvation Army Trading Company Ltd.
WAULT of 6.79 years to expiry and 5.51 years to break.
Total passing rent of £85,713 pa.
Heritable Interest (Scottish Equivalent of English Freehold).
EPC certificates for all units available upon request.

We are instructed to seek offers in excess of £740,500 (Seven Hundred and Forty Thousand Five Hundred Pounds Sterling) exclusive of VAT for our client’s Heritable Interest. A purchase at this level reflects a net initial yield of 11.00%, and an attractive capital rate of £62.37 per sq ft, allowing for standard purchaser’s costs based on LBTT.