West Stewart Street, Greenock

OVERVIEW

**360-degree tour available - click above link** 

This smart retail unit is available to buy or rent at the heart of Greenock Town Centre in West Stewart Street, providing a superb and affordable option for entrepreneurs and businesses to grow your business from.

Due to the end of the lease and relocation of the current long-term tenant - InverEco - the property is available from mid-April 2023.

The unit has an open-plan front section to support retail display and footfall, with a private back office, kitchen area, and welfare facilities.

The premises offer a range of opportunities for new occupants all within close walking distance of Greenock's Oak Mall, Greenock Bus Station, and Greenock Ocean Terminal, where 150k visitors and crew land every summer from cruise liners.

The property is located as the end retail unit, with Jamaica Street and West Blackhall Street both close by and just a five-minute walk from Greenock's principal retail area of the town, the Oak Mall.

Other enterprises located nearby include a range of hairdressers, restaurants, cafes, takeaways, clothing stores, gift stores, and Aldi.

This space provides tenants with a welcoming, comfortable working environment with fully functional and serviced gas central heating.

A fantastic space for a business to position itself with high visibility and footfall, further images and an updated virtual tour are to follow.

VIEWING

Viewings can be arranged by appointment with Bowman Rebecchi. 

SAT NAV DIRECTIONS

The postcode for the property is PA15 1SH.

INVESTMENT

The demand to own property in Inverclyde is strong, with this property likely to command approximately £6.3k per annum from a new tenancy, making this an attractive investment opportunity providing a 10.5% yield.

Demand is high for commercial units in Greenock and Inverclyde and it is rare for a property like this to come to market.

A CENTRAL LOCATION

The subjects are located on West Stewart Street, located just a one-minute walk from Greenock Bus Station, with buses headed west and centrally on its doorstep.

The premises are also a two-minute walk to Greenock's principal retail area of the town, the Oak Mall, and West Blackhall Street.

Other enterprises located nearby include B&M, The Range, Ardgowan Hospice, convenience stores, cafes, hairdressers, restaurants, takeaways, clothing stores, and gift stores.

This is a well-connected business hub, with Greenock West train station only a five-minute walk as well as connecting ferry services to Argyll and Bute a ten-minute drive.

On-street parking is available within the vicinity, with a new Inverclyde Council car park on Jamaica street providing all-day parking for £2 just a 2-minute walk away.

A HISTORIC TOWN

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.

With a rich maritime heritage, the town is looking again to the River Clyde to support its future growth, with Greenock Ocean Terminal developing a new pontoon and visitor centre to support its 140,000 cruise liner passengers per annum.

Greenock benefits from excellent road links and is accessed via junction 31 of the M8 motorway with direct links to Glasgow Airport (a 25-minute drive) via the A8 and Ayrshire via the A78.

MEASUREMENTS 

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

42 sq m | 450 sq ft

CLASS USE

Class Use 1 (Retail)

TERMS

Rates - From the Assessor’s website, the property had a Rateable Value of £4,900. 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 available upon request.

Entry - Entry is available from 7 April 2023.  

Rental - The property is available by way of a new lease at a guide rent of £6,300 per annum, excluding VAT which is not applicable, with terms to be agreed upon.

Price - Our client is seeking offers in the region of £60,000 exclusive of VAT for their Heritable interest.

Terms - The subjects are available to lease on full repairing and insuring terms. Each party is to be responsible for its legal costs and outlays, including VAT incurred.

Anti-Money Laundering - To comply with anti-money laundering legislation, the successful tenant will be required to provide certain identification documents.

For further information, please contact Bowman Rebecchi.