Retail premises for sale in George Street, Stranraer DG9

Investment Consideration:
Gross Initial Yield: 8.86%
Rental Income: £7,000 p.a.
VAT is applicable to this property
Heritable (Scottish Equivalent to English Freehold)
Comprises ground floor retail shop t/a barbers with ancillary accommodation at first floor
Prominent retail unit on Stranraer`s main retail thoroughfare, situated adjacent to Superdrug and Subway and Nearby occupiers include M&Co, wh Smith, Boots and Santander Bank.

Property Description:
The property comprises ground floor shop with ancillary accommodation at first floor and provides the following accommodation and dimensions:
Ground Floor: 77 sq m (828 sq ft)
Retail Area, Office, Storage, Kitchenette, WC
First Floor: 77 sq m (828 sq ft)
Office, Storage
Total area size: 154 sq m (1,656 sq ft)

Tenancy:
The property is at present let to an Individual t/a Barbers for a term of 2 Years from 5th February 2024 at a current rent of £7,000* p.a. And the lease contains full repairing and insuring covenants. Deposit held of £1,000.

*Tenant pays reduced rent of £6,000 p.a. For the first year. Vendor will top up rent, so the buyer receives the equivalent to £7,000 p.a. From completion.

Location:
The property is situated in a prominent position within the town centre, on the northern side of George Street adjacent to Superdrug, Subway and the main town square. Other nearby occupiers include M&Co, wh Smith, Boots and Santander Bank.