The premises comprise a corner shop unit with extensive return frontages to both Tollcorss Road and Westmuir Street formed over the ground floor of a larger tenement building, the upper floors of which are in residential use.
Our client is in the process of a comprehensive refurbishment programme to create a large open plan sales area with ancillary accommodation behind.
Location
Parkhead is a densely populated district of Glasgow lying around two miles east of the city centre. Parkhead Cross is a busy junction where the arterial routes of Tollcross Road, Westmuir Street and Duke Street all converge.
The area is predominantly residential in nature with adjoining retailers being generally independent traders serving the needs of the local community.
The premises sit right at the gushet of the junction in a highly visible and prominent location.
Accommodation
Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we estimate the premises to extend to the following approximate floor area:
Ground Floor - Net Internal Area: 193.91 sq m (2,087 sq ft)
Terms
Rating - From enquiries made at saa.gov.uk, the premises are entered on the current Valuation Roll as follows:
SHOP - NAV/RV - £13,400
For the 2024/25 Financial Year this would give rise to an annual Rates payable figure of approximately £6,700pa.
Energy Performance Certificate - The subject property has an EPC rating of G
Planning - The property has the benefit of Class 1a (Retail and Office) Use. With no external rear wall, we think it unlikely the premises would easily lend themselves to any sort of food uses that required cooking extract ventilation.
VAT - We understand the property has not been elected for VAT and VAT will therefore not be charged on the rent.
Terms - Our clients are offering the premises on the basis of a new full repairing and insuring lease of a minimum 5 years’ duration at a rent of £25,000 per annum.
Depending on the prospective tenant’s trading history, the landlord reserves the right to demand a security deposit to be held for the duration of the lease.
Alternatively, our client has indicated they may consider a sale of their interest, for which offers are invited.
Legal Expenses - Each party will meet their own legal and professional expenses incurred in connection with the transaction, with the incoming occupier meeting the costs of any Land and Buildings Transaction Tax and Registration Dues that may be payable.
Entry - Immediately available on conclusion of missives.