Page 6 - Shepherd Commercial Auction June 2022
P. 6

  Lot 1
Features:
• Six self - contained lock up garages
• Guide price equates to £6,583 per unit • Fully let producing £3,922 per annum
Description:
The subjects comprise a terrace of six lock up garages of single storey brick construction with mono pitch roof clad in felt. The roof covering was upgraded in August 2020 with works being guaranteed for 10 years.
Location:
The subjects are located in Cochrane Place, a small lane accessed via Midton Road in an area of predominantly residential use, o.3 miles from Prestwick town centre. Prestwick is located immediately north of Ayr in the South Ayrshire Council area.
Commercial Investment
We have been advised that all units are currently let producing an annual income of £3,922.Two of the units have signed licence agreements in place whilst two have licence agreements which are unsigned, the remaining two units have no licences in place with occupation by verbal arrangement only. The vendor confirms that all rental payments are up-to-date and has advised that the rents being achieved are as follows: Unit A - annual Income of £504
Unit B - annual income of £504 Unit C - annual income of £756 Unit D - annual income of £624 Unit E - annual income of £702 Unit F - annual income of £832
*Guide Price £39,500+ (plus fees)
Lot 2
Features:
• 49.58 sqm (533 sq ft)
• Unexpired Lease term of approx 4 years.
• NET initial yield: 12.22% at the current guide price • Passing Rent: £14,000 per annum
Description:
The subjects compromise the lower ground floor of a larger building of mixed use. The subjects on the lower ground floor currently operate as a restaurant, the remaining floors are currently utilised as office accommodation.
Accommodation:
Internally, the unit is laid out to accommodate a restaurant with a majority of the space utilised as seating. Kitchen facilities are situated towards the rear of the property along with staff w/cs and storage.
Location:
The subjects are situated on West Regent Street, within the city centre of Glasgow. The location on West Regent Street allows the subjects to benefit from the excellent road networks Glasgow has to offer. Junctions 18 and 19 of the M8 motorway are located within close proximity. The M8 connects Glasgow with major road networks throughout Scotland. The surrounding occupiers are a mix of office and retail occupation at ground level, with the upper floors offering predominantly office accommodation. The location on West Regent Street benefits from being nearby to Buchanan Street which forms the main retailing stretch in Glasgow. The location further benefits from excellent public transport links with Glasgow Queen Street and Central Station both situated nearby. Regular bus and subway services are also available from their respective stations.
*Guide Price £112,500+ (plus fees)
Garages at Cochrane Place, Prestwick KA9 1PW
 186 West Regent Street, Glasgow G2 4RU
Tenure: See Legal Pack
Viewing:
Viewings by arrangement with Shepherd Commercial Property Auctions - Tel: 01292 267987 Email: kevin.bell@shepherd.co.uk
Auction Type: Unconditional Sale. The buyers fee on this lot is 3% plus VAT (3.6% including VAT) subject to a minimum of £2,000 plus VAT (£2,400 including VAT).
  6 | *Please see Buyer’s Terms for definition of guide price Closing date for next Auction: 7th May 2020 - Entries Invited and auction fees
Commercial Investment
The subjects are currently let to ‘Bombaywalla’ on a full repairing and insuring lease which commenced in 2021 for 5 years with no break options. The current passing rent for the subjects is £14,000 per annum.
Energy Efficiency Rating: G Tenure: See Legal Pack
Viewing:
Viewings by arrangement with Shepherd Commercial Property Auctions - Tel: 0141 331 2807 Email: a.honeyman@shepherd.co.uk
Auction Type: Unconditional Sale. The buyers fee is 2% plus VAT (2.4% including VAT) subject to a minimum of £2,985 plus VAT (£3,474 including VAT)
 





























































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