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Shopping Centres for Sale Within 10 miles of the Glasgow

More details for 23 High St, Paisley - Retail for Sale

Paisley Local Market - 23 High St

Paisley, PA1 2AF

  • Office for Sale
  • £800,000
  • 69,201 sq ft
  • 1 Unit Available
  • Air Conditioning
  • Security System

Paisley Retail for Sale - Glasgow

The ground floor is let to Poundstretcher Limited on a full repairing and insuring lease expiring on 6 September 2028. The rent passing is £120,000 per annum (£5.20/sqft). The tenant has been in occupation since 2018 and had a break option in 2023, which they did not exercise. The lower ground floor is let to Renfrewshire Council, who use it to store, maintain and meticulously repair artifacts exhibited in the Paisley Museum. Their lease expires on 15 May 2036 at a rent of £1 pa. Whilst there are rent review provisions within the lease, the reversion to full rental value will only apply if the subjects are used for commercial purposes or on expiry of the current lease. The tenant has spent significant sums on temperature and moisture control of the whole facility. Once Renfrewshire Council’s lease expires on 12/5/36, there will be an opportunity to charge commercial rent. Using only £2/sq ft generates a further £46,000 in annual rent, bringing the total yield of the property to 19.69% at a purchase price of £800,000.

Contacts:

Sheridan Keane Real Estate Investment

Inglis Howie Property Consultants

Property Subtype:

Shopfront

Date on Market:

18/03/2026
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