Town Centre Retail Investment 10%+ Yield Expiring 2031
Summary
- Town centre location
- Private Car Park To Rear
- Ground & 1st Floor
- Held on F.R.I Lease
- Expiry April 2031
- Passing £10,000p.a.x
- Increasing to £13,000p.a.x in 2028
- From 2030: Rent increase to £15,000p.a.x
- Sale: o/o £95,000
Location
South Strand Street is set close to the primary retailing street within Stranraer Town Centre, with the subject property occupying a prominent position on its west side between its junctions with Queen Street and George Street and set amongst an array of national and local occupiers including WH Smith, Santander, Subway, VPZ and Superdrug, amongst others.
Stranraer is located within the Dumfries and Galloway region, around 45 miles south of Ayr, 90 miles south west of Glasgow and 73 miles west of Dumfries, lying at the convergence of the A77 and A75 road routes. The town has a population of around 11,000 persons rising to around 35,000 persons within a 10- mile radius, increasing significantly during the tourist season.
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Mainline Stations
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Stranraer7 mins
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Barrhill318 mins
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Girvan476 mins
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Maybole655 mins
Underground Station
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Chesham5531 mins
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Amersham5566 mins
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Chalfont and Latimer5596 mins
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Reading5624 mins
Further Information
Price Offers in excess of £95,000
Rates Payable Upon Enquiry
Description
The property forms a 2 storey commercial development of traditional construction surmounted by a pitched roof. The property benefits from a prominent glazed frontage with large display window with single partially recessed entrance door. Internally the property is presented in a a good condition with floors overlaid in carpet and laminated timber with lighting provided by way of recessed strips within the suspended ceiling.
Access to the upper floor is via a single staircase to the rear with staff tea prep, stores and w.c. facilities.
Area
Ground: 121.07sqm (1,303sq ft)
1st: 49.58sqm (534sq ft)
Total: 170.68sqm (1,837sq ft)
Lease Summary
The property is held on a full repairing and insuring head lease expiring 2031 to Bolton Phones Ltd t/a “iFix Repair” at a passing rent of £10,000p.a.x increasing to £13,000p.a.x in April 2028 increasing to £15,000p.a.x from 2030 until expiry. The seller holds a deposit of £2,500
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