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1 Auchmead Rd
Greenock PA16 0PY
Retail Property For Sale
Investment Highlights
- Fully let neighbourhood retail investment producing passing rent of £92,300 per annum exclusive.
- Lease expiries extend to 2035 and 2040, with extension options and scheduled rent reviews.
- Income is secured to Domino’s Pizza, Greggs and an established Nisa Local convenience-store operator.
Executive Summary
The freehold interest is offered at £1,450,000, subject to the existing occupational leases and the electricity substation lease. The property produces total passing rent of £92,300 per annum exclusive, reflecting a gross initial yield of approximately 6.37% before purchaser’s costs. The property is elected for VAT, and the transaction may be capable of treatment as a Transfer of a Going Concern.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront
Property Size
4,000 sq ft
Costar Property Class
C
Year Built
2019
Price
£1,450,000
Price per sq ft
£362.50
Yield
6.37%
NOI
£92,300
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.91
Total Plot Size
0.10 ac
Parking
13 Spaces (3.25 Spaces per 1,000 sq ft Leased)
Frontage
79 ft on Auchmead Road
Amenities
- 24 Hour Access
- Storage Space
1 of 2
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