For Sale

The subject property comprises a self-contained mid terraced traditional retail premises that is contained on the ground floor of a three storey mid terraced traditional sandstone building.

The subjects have traded until recently as a successful newsagent for several years but would also suit a variety of uses under the Class 1A use class. Given its attributes, the unit would also suit a range of alternative uses subject to relevant planning permissions being obtained.

The subject property is located in Paisley which is situated in Renfrewshire, 9 miles from Glasgow International Airport.  It is the largest town in Scotland with a resident population of 75,000 or thereby and is the Administrative Centre for Renfrewshire Council.

The subjects are positioned on the southern side of Glasgow Road which forms part of the arterial A761 road connecting Paisley with the south west of Glasgow and the city centre. It is therefore subject to strong levels of passing vehicular traffic and benefits from free on street parking allowing occupiers the ability to draw upon passing trade. The area is also reasonably densely populated and therefore there is also a relatively large resident population to serve.

The town centre is a short distance to the west including Paisley Gilmour Street railway station which lies under a mile from the subjects.

The subjects form part a larger established retail parade that incorporates a variety of uses and occupiers with free on street parking and a public bus stop immediately in front.

Accommodation

The subjects benefit from a main open plan retail area to the front with a further open plan area to the rear off which a toilet is accessed. A common drying green is situated to the rear of the tenement.

Floor Area

We calculate the net internal floor area of the property at 42.60 sq m (459 sq ft).

Price

Our client is seeking offers over £75,000 for their heritable interest in the property.

Rateable Value

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £5,900 effective 1^st April 2023. The uniform business rate for the current year is £0.498 pence in the pound.  Occupiers may be eligible for 100% rates relief through the Small Business Bonus Scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less.

Energy Performance Certificate

The Energy Performance Certificate rating is B.

Offers

In the normal Scottish form addressed to this office.

Acquisition Costs

Each party shall be responsible for their own legal costs incurred in connection with the eventual purchaser liable for any Land and Buildings Transaction Tax (LBTT) and VAT thereon.

VAT

We have been advised that the property is not VAT elected.

Date of Entry

To be mutually agreed.

Anti-Money Laundering

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/ occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before any transaction can proceed.