Union Street, Greenock

20 Union Street - For Sale

£250,000

2611 sq ft

bathrooms 4receptions 2

OVERVIEW

**360° Tour Available - click above** 

This traditional building is available to buy in the desirable west end of Greenock. Presenting a rare opportunity located within Greenock's professional district, the subjects are set across the basement, ground, first and attic floors, with a dedicated entrance, shared gardens and on-street parking.

The property comprises an office building of traditional construction, with the ground floor entrance from Union Street, which leads into the basement area with ten well-proportioned rooms.

On the ground floor, the current tenant has spent extensively to create a modern office environment, including fresh plaster, floor tile and decoration. There is access to the basement internally from the office.

The first-floor entrance is from a turret stairwell accessible from street level, with signage opportunities onto the busy Union Street.

A former residential dwelling, the property has retained several period features and cornicing.

There is the potential also to convert the top floor property into a 4 bedroom flat or multiple flats across the first, attic and basement floors (subject to planning).

Both properties provide several well-proportioned rooms, reception area, kitchen, meeting rooms and private offices. Security and fire alarms are in-situ for both properties.

This is a fantastic and rare investment opportunity to add to an existing portfolio, or for a business to relocate and generate income from the ground floor. 

LEASES

The ground floor is let on a long-term lease until July 2028 to a leading Charity, at £12k p.a. generating the potential of c.£85,000 income for purchasers. There is a tenant only break clause in 2024 and 2027.

The first floor is now vacant, with the previous long-term tenant lease now lapsed.

VIEWING

Viewings can be arranged by appointment with Bowman Rebecchi.

LOCATION

Greenock is located approximately 20 miles west of Glasgow with a residential population of over 50,000 persons and a core catchment population of approximately 270,000 persons.

This is a well-connected business hub, with Greenock West train station a ten-minute walk. There are bus stops adjacent to the property as well as plenty of on-street parking.

Greenock town centre is a short walk eastwards, with Ardgowan Square providing lunchtime walks and benches for staff.

Other businesses situated nearby include Morrison Walker, Mind Mosaic, Aitchison's Opticians, Patten and Prentice, Neill Clerk & Murray, The Tontine Hotel and the Watt Library and Museum at the Watt Institution.

A wide variety of SME businesses are in close proximity in this vibrant part of Greenock.

Greenock is situated 25 miles west of Glasgow and has a direct connection to the A8/M8 motorway, which is the main arterial route to Edinburgh and the Scottish motorway network and beyond to the large skilled labour force that is based in Inverclyde and the central belt of Scotland.

ACCOMMODATION

Floors:

First - 106 sq m - 1,140 sq.ft. 
Attic - 69 sq m - 743 sq.ft.

Total - 175 sq.m - 1,883 sq.ft.

Rates From the Assessor’s website, we note the subjects are in the current Valuation Roll with a Rateable Value of £8,900 (Ground) and £11,500 (1st Floor). Each floor qualifies for 100% rates relief through the Small Business Bonus Scheme, subject to occupier status.

EPC - F - A copy of the Energy Performance Certificate is attached above and available upon request.

TERMS

PRICING

Offers are invited for the purchase of our client's freehold in the property, with an asking price of £250,000. The subjects are not elected for VAT. 

LEGAL COSTS

Each party will be responsible for their own legal costs incurred during the transaction with the purchaser being responsible for payment of Land and Building Transaction Tax

For further information concerning the sale, please contact Bowman Rebecchi.

FEATURES

  • West End of Greenock Location
  • Set Within Professional District
  • c.£85k Income From Existing Tenant
  • Period Features Retained
  • Good Proportioned Rooms and Offices
  • Highly-Visible and Accessible Location
  • Gardens and Separate Entrances
  • On-Street Parking
  • Bus, Car, Ferry and Train Access All In Close Vicinity
  • Close to Greenock West Railway and Bus Station
  • Greenock Town Centre - 2 Minutes' Drive
  • Greenock Ocean Terminal - 3 Minute's Drive
Floorplan for Union Street, Greenock
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