Muirshiel Road, Port Glasgow

OVERVIEW

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A very rare opportunity to purchase this mid-range industrial unit which is new to market through Bowman Rebecchi. Situated within Port Glasgow Industrial Estate, the unit is centrally located, with a 4m rear shutter and loading bay, with guest and staff parking to the front with a large open-plan space ideal for a range of businesses including storage and light industrial use.

The subjects have been under a long-term tenancy which is set to expire, with the unit to be cleared ready for new occupancy.

Situated as part of the estate, the property is on the same row as Inverclyde Community Development Trust and is located adjacent to McLaren Packaging and Sangamo. Twisters Gymnastics Academy and British Metal Treatments are in close proximity.

To the front of the property is significant water ingress, caused by an issue with the neighbouring property which is currently ongoing towards resolution.

Industrial property is highly popular in the Inverclyde area and it is rarely available to purchase, making this a great opportunity for the right owner/operator.

ACCOMMODATION

The property comprises a single-storey industrial unit of concrete construction set beneath a pitched roof and is located on the west side of Muirshiel Road. It has been within family ownership for the past 15 years.

The available space comprises a large open plan industrial unit, with a reception office, kitchen and staff welfare to the front, with a generous loading bay and storage room to the rear.

Ideal for storage, the unit currently has several rows of racking, around 6m in height. The unit is heated by three separate gas burners. 

Given the internal configuration, the subjects are easily capable of subdivision depending on the purchaser's needs.

INVESTMENT

The demand for industrial units in Inverclyde is strong, with this property likely to command approximately £18-20k per annum once renovated from a sitting tenant, making this an attractive investment opportunity providing a 10% yield.

A VIBRANT LOCATION

Port Glasgow’s population is approximately 16,617 and has undergone a regenerative transformation over the past decade to become a vibrant town on the banks of the River Clyde, within the authority of Inverclyde Council.

With a rich heritage within the shipbuilding industry, the town continues to build ships at the nearby Ferguson Shipyard, nationalised by the Scottish Government in 2019.

The town is reaping the benefits of having a large retail park constructed next to this site by Ediston, with tenants including Tesco, M&S, Next, B&Q, B&M, Aldi and McDonald’s.

The subjects are accessed off the M8/A8 which is located adjacent to the north of the property, which is located approximately 17 miles to the northwest of Glasgow City Centre.

Port Glasgow benefits from excellent road and rail links and is accessed via junction 31 of the M8 motorway with direct links to Paisley and Largs via the A8 and A78.

VIEWING

Viewings can be arranged by appointment with Bowman Rebecchi. 

MEASUREMENTS

The on-site measurements, measured in accordance with the RICS Code of Measuring Practice (6th Edition), calculate the subjects extend as follows: 

557 sq m / 6,000 sq ft

TERMS

Rates - From the Assessor’s website, the property had a Rateable Value of £8,600. The property qualifies for 100% rates relief through the Small Business Bonus Scheme, subject to occupier status. 

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

Entry - The current tenant has requested 4 weeks' notice to empty the unit. 

Price - Our client is seeking offers of £180,000 exclusive of VAT for their Heritable interest.

VAT - All prices, rents, premiums etc. are quoted exclusive of VAT. Interested parties must satisfy themselves as to the instance of VAT in respect of any transaction.

Legal Costs - Each party is responsible for their own legal costs and the tenant shall be responsible for lease registration costs and land tax as standard.

For further information or to view, please contact Bowman Rebecchi.