Property Description
The subject property comprises a small mid terrace high street office that forms part of a local retail parade on the ground floor of a four storey traditional mid terrace tenement building with residential dwellings on the upper levels.
Location
The subject property is located in Paisley, a town situated 9 miles from Glasgow and only 2 miles from Glasgow International Airport with excellent road and public transport infrastructure including a direct rail link to Glasgow city centre. The town is the largest in Scotland and has a resident population in the region of 75,000 persons and is the Administrative Centre for Renfrewshire Council.
The subjects are situated to the north of Paisley town centre forming part of a town block that is positioned on the eastern side of Caledonia Street with Andrew Street to the north and Blythswood Drive to the south. Caledonia Street forms part of the arterial A726 road which connects the M8 motorway to the northwest of the town with the M77 motorway to the south east and running right through the centre of Paisley is one of the area’s principal thoroughfares. The subjects are therefore subject to strong levels of passing vehicular traffic with levels of on street parking immediately in front of the property and the wider area.
Further Information
ACCOMMODATION
The subjects benefit from a main open plan retail area that has been subdivided with partitioning to form a small private office at the front and a general office area with staff tea prep area at the rear. A staff toilet is formed at the rear.
FLOOR AREA
We calculate the net internal floor area of the subjects in accordance with the RICS Code of Measuring Practice (6th Edition) at 27.40 sq m (295 sq ft).
ASKING RENT
Our client is seeking an initial annual rent of £6,000 for a negotiable term.
Alternatively, our client may consider offers to dispose of the property.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £5,000 effective 1st 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 D.
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 tenant/purchaser liable for any Land Building and Transaction Tax (LBTT) and VAT thereon.
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.
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