Bowman Rebecchi through its partnership with Town & Country Auctions is delighted to bring this newly renovated brick-built commercial property to the market with the property to be auctioned on Thursday 27th April 2023 at 10:00am.
A rarely available unit, this property is expected to be highly popular, with full details on how to bid available here.
Located within a popular residential area of Springburn to the North of Glasgow there are a number of options available to the end purchaser with the unit ideally set up for beauty, therapy, and other retail uses.
Formerly operating as a newsagent, the property has main road access and on-street parking with roller shutter security. The entrance is through a modern glazed door, offering an open plan area with a counter, as well as several shelving units for display.
To the rear is a good-sized kitchen/staff area which could also be used for storage, with plumbed sink and a bathroom with w.c. and wash hand basin.
The subjects are to be auctioned by Town and Country Property Auctions at 10:00 on Thursday 27th April 2023. Interested parties should register here to bid and review the legal pack.
Viewings can be arranged by appointment with Bowman Rebecchi.
The demand to own property in Scotland is strong, with this property likely to command approximately £6-7k per annum from a new tenancy, making this an attractive investment opportunity providing a 12-17% yield.
A CENTRAL LOCATION
Glasgow is Scotland’s largest City with a population of around 635,640 and a catchment population in excess of 2.8 million.
Situated in the popular Springburn residential area (a suburb of Glasgow), the property is located 2 miles north of the city centre on the main route to Bishopbriggs and Kirkintilloch.
This excellent trading location has on-street parking available, with local amenities including Broomfield Park, Springburn Leisure Centre, Springburn train station, and Stobhill Hospital, offering the potential for regular footfall for both residents and workers in the area.
Glasgow City Centre is a short 10-minute drive with train, bus, and cycle routes available.
The on-site measurements, measured in accordance with the RICS Code of Measuring Practice (6th Edition), calculate the subjects extend as follows:
23.2 sq m / 250 sq ft
Rates - From the Assessor’s website, the property had a Rateable Value of £1,400. 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 - Early entry is available upon completion of missives.
Price - Our client is seeking offers in the region of £28,000 + Fees, exclusive of VAT for this freehold property with full vacant possession. Please note a buyer's premium applies.
Guide Price - The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for.
It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given i.e. (£50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
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.
Based in Gourock, Bowman Rebecchi is led by co-founders Andrew Bowman and Marco Rebecchi, providing specialist commercial property services across the west of Scotland.
Alongside its residential arm, Bowman Rebecchi Letting, a joint venture with Riccardo Giovanacci’s Glasgow agency Newton Letting, the group currently manages over 1,200 properties across west and central Scotland.
Based in Glasgow, Town & Country Property Auctions Scotland conduct online auctions monthly across Scotland. All associated sale costs for the seller are completely free, even after a successful sale, with the costs met by the buyer only.
The Town & Country Property Auctions network has offices across the United Kingdom and Ireland. With over 40 years of combined financial, real estate, and advertising services in the Scotland office, is recognised as a leading player in its sector.
For further information, please contact Bowman Rebecchi.