Retail Investment For Sale

881 Sqft - Unit 2 Rankin Gate

Property Description

Part of a purpose built retail development on Hamilton Street at the eastern end of High Street within Carluke town centre.

The immediate surroundings have benefitted from a redevelopment of the town centre in recent years and provide public open space in hard and soft landscaping.  Free parking is available in a number of public car parks throughout the town centre.

With a residential population in the region of 13,000 and continuing to grow with the number of modern residential developments throughout the town, Carluke is approximately 22 miles from Glasgow and within 5 miles from Wishaw to the north west and a similar distance from Lanark to the south east.

Other occupiers in the development include Scotfresh convenience store, Chest, Heart & Stroke Scotland, Greggs, Capital Inn Chinese Takeaway, LAMH.

DESCRIPTION:

Mid terraced unit within a purpose built retail development.

Full height, anodised display frontage and door (protected by roller shutters) to open plan retail area with store to rear and stairs to upper floor offering 3 rooms for offices and storage plus a staff toilet.  Loading facilities are provided to the rear.

AREAS: 

By our calculations, 539 sq ft/50.06 sq m or thereby net internal area to the ground floor and 342 sq ft/31.77 sq m or thereby to the first floor.

ENERGY RATING:  F

RATEABLE VALUE:  £6,200

For qualifying occupiers, 100% rates relief may be available under the Scottish Government’s Small Business Bonus Scheme.  Prospective purchasers should confirm the position for themselves. 

LEASE DETAILS: 

RS McColl has been a tenant of the shop since 1982 and the current lease is from 1st August 2007 until 31st July 2022 with no further break options or rent reviews at a RENTAL OF £8500 per annum (no VAT).

Martin Retail Group are a leading neighbourhood retailer with around 1550 convenience stores and newsagents located throughout the UK.  The 2018 accounts reported £1.24bn revenue and EBITDA of £35m with a resultant net profit of £7.9m before tax.

PRICE: 

OFFERS OVER £85,000 are invited for the landlord’s interest in the property subject to and with the benefit of the existing lease.

By our calculations, this reflects a net initial yield of 9.823% after allowing for purchaser’s costs of 1.8%.

In the first instance, all offers should be submitted to Mr Cameron of this office.

VIEWING:

STRICTLY by appointment with Whyte & Barrie as agents.

Basic Details

Property Type : Retail
Listing Type : Under Offer
Listing ID : 1180
Price : £85,000
Area : 881 Sqft
Energy Rating : F
Rateable Value : 6200

Address Map

Country : United Kingdom
Area : Carluke
Street : Rankin Gate
Street Number : Unit 2
Postal Code : ML8 4AT
Longitude : W4° 9' 45.8''
Latitude : N55° 44' 1.2''
Retail Under Offer
  • Listing ID : 1180
  • Area : 881 Sqft
£85,000
Agent info
Whyte & Barrie
Suites 7 & 8 Waverley House, Caird Park, Hamilton, ML3 0QA
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