Page 47 - Shepherd Commercial Auctions - Catalogue 07/12/2023

Lot 36 The Boarding House Main Street, Howwood, Renfrewshire PA9 1BQ Licensed Investment Opportunity
Features
• Passing rent £90,000 per annum
• GIA 551.33 sq. m. (5,934 sq. ft.)
• Net Initial Yield 11.40% after allowing for purchaser's costs
Description
The subjects comprise a restaurant formed over a ground, first and attic level. In addition, there is also outdoor seating and substantial car parking to the rear of the subjects.
Accommodation
Internally, the subjects offer high quality fit out with an open plan layout, a fitted kitchen, serving area and accessible W/C facilities.
Location
The subjects are located in Howwood, a village in Renfrewshire, Scotland, situated between Johnstone and Lochwinnoch, and approximately 17 miles West of Glasgow City Centre. The subjects are positioned on Beith Road, and the surrounding area is predominantly made up of residential dwellings.
Public transport links are available in the surrounding vicinity with Howwood Station within walking distance (0.4 miles) and multiple bus stops also nearby. Access to the M8, A737, and A761 are all within close proximity.
Rateable Value
The property has a rateable value of £22,000.
Energy Performance Rating The property has an energy rating of G.
Tenancy
Tenant – Howwood Pub Limited (Company Number: SC636268) Start date – 19/06/2023
End date – 18/06/2033 (10th Anniversary)
Break Date – 18/06/2028 (5th Anniversary)
Rent Review – 18/06/2028 (5th Anniversary) Passing Rent - £90,000 per annum (exc. VAT) Full Repairing Insuring Obligations
*Guide Price £725,000 (plus fees if applicable)
* Please see Buyer’s Terms for definition of guide price and auction fees
Auction Type
Unconditional Sale - The buyers fee is 2.4% inc VAT(2% plus VAT) subject to a minimum of £2,500 inc VAT(£2,083.33 plus VAT).
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