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76-78 Royston Road, Royston, Glasgow, G21 2NT

  • Auction
  • Lot 05
  • United Kingdom
  • Retail
  • Commercial

Sold for £110,000

Property Summary

  • Heritable retail investment
  • Includes two ground floor retail units
  • Let until 2040
  • Part of an established local parade
  • Currently producing £11,500 per annum (sub-let in part)
  • Guide price reflects a gross initial yield of 17.7%

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.

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Property description

Two adjacent ground floor retail units forming part of a larger four storey building. No.76 totals approximately 36.98 sq m (398 sq ft) and No.78 totals approximately 32.61 sq m (351 sq ft). The units are mid terraced and form part of an established parade, No.76 has been sub-let to a hairdresser and the tenant of No.78 is curently not in occupation.

Location

Glasgow is the most populous city in Scotland lying about 45 miles west of Edinburgh and can be accessed via the A74, M8 and M74 with both motorways being accessible via multiple junctions. Glasgow Central railway station is the terminus of the West Coast Mainline and provides national rail services including direct services to London Euston, Manchester Piccadilly and Birmingham New Street. Glasgow Queen Street provides regional rail services and Glasgow International Airport lies about 9 miles west of the city centre.

Royston is a suburb of Glasgow lying just to the north east of the city centre and just to the north of junction 15 of the M8 motorway. Royston Road forms part of the A804 with the property forming part of an established retail parade on its south side near the junction with Glenbarr Street. Nearby occupiers include Ladbrokes.

Tenure

Heritable (Scottish equivalent of freehold)

Additional Details

AddressFloorAccommodationTenancyRent (£pa)

76 Royston Road

78 Royston Road

Ground

Ground

Retail 36.98 sq m (398 sq ft)

Retail 32.61 sq m (351 sq ft)

Let to an individual for a term expiring 02/11/2040 (1) (2) £11,500 (3)
TOTAL 69.59 sq m (749 sq ft) £11,500

(1) No.76 has been sub-let to an individual t/a a hairdresser since 2012 at a rent of £5,980 per annum (refer to legal pack)

(2) The tenant of No.78 is currently not in occupation

(3) The rent is currently being withheld (refer to the legal pack)

(4) The floor areas have been provided by the vendor

 

VAT

Please refer to Legal Documents

Energy Performance Indicator

Please refer to the Legal Documents

Helpful links

*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,400 (inclusive of VAT) for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All Lots sold “Subject to Vendor Confirmation” will be subject to acceptance and confirmation by the Vendor. The highest bid will be presented to the Vendor, the Vendor will have to either accept, decline or make a counteroffer, within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising of the offer the Vendor is willing to accept. The Highest Bidder will be obliged to accept or reject the Vendor's counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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