Causeyside Street, Paisley, Renfrewshire, PA1

Town Centre Retail Investment
Ground Floor
Held On F.R.I Lease
Subway Sandwich Investment
Expiry: 2027
Passing Rent: £20,400p.a.x
2022 Rent Review Outstanding
Price: £235,000

Location

The subjects are situated on Causeyside Street, close to its junction with New Street within the heart of Paisley Town Centre. Causeyside Street is a main arterial route through Paisley which benefits from strong levels of passing footfall and traffic.

Paisley is located approximately 7 miles west of Glasgow and benefits from excellent transport links via the M8 motorway and main rail network. Gilmour Street Station is within close proximity which serves Glasgow City Centre as well as the Clyde Coast. Glasgow International Airport is also located within approximately two miles of the subjects.

The town is home to the University of the West of Scotland and has a student campus of around 10,000 students with the additional benefit of a proposed £13.2m student development underway adding to the town's footfall and potential customer base. The town is also the administrative hub for the council district and home to Renfrewshire Council's Headquarters.

Surrounding occupiers comprise a mix of national retailers, niche independent retailers and sole traders, some include Farmfoods, Greggs, Nationwide Building Society, Blend Coffee Lounge and Countrywide Sales and Letting Agents.

Property

The property comprises a ground floor retail unit contained within a large two storey mixed use building. The property is presented in the current tenants corporate standard fit out in keeping with this use. An open plan sales area is located to the front with staff and prep areas located to the rear. Public and staff w.c. facilities are also at ground floor.

The property benefits from a large frontage with single door entrance of aluminium framed and glazed construction. The property has been renovated by the tenant to include new L.E.D panel lighting recessed within the suspended acoustic tile ceiling along with new commercial linoleum throughout.

Area

The property has been calculated to extend to the following floor area

94.47sqm (1,017sq ft)

NAV/RV

£8,700

Executive Summary

Tenant: Multan Business Ltd (t/a Subway)
Expiry: 31/05/2027 (Tenant has been in situ since June 2002
Break Date - 01/10/2024
Rent Review - 31/06/2022 (outstanding)
Rent - £20,400 p.a.x

Sale

The property is available on a freehold basis for £250,000

V.A.T

Figures quoted are exclusive of V.A.T

Viewing

Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business.