Commercial Investment Property with Tenancy

PRIME INCOME PRODUCING INVESTMENT. Commercial Unit in EXCELLENT TRADING POSITION. The Independent Family Funeral Directors Ltd is in occupation, producing £47,000 pa from October 26 on a FRI Lease. Let to The Independent Family Funeral Directors Ltd for a term of 15 years from 7th October 2021. The lease includes a tenant-only break option at year 10 with 6 months' notice. The current passing rent is £40,000 per annum (£11.00 per sqft) with the benefit of 5 yearly uplifts linked to CPI, capped and collared between 3% and 1% per annum, compounded annually. The next rent review will result in an increase to £47,000 per annum from October 2026. The property is held on a full repairing and insuring head lease. The repairing clause is restricted so that the tenant is not obliged to put the premises into any better condition than as evidenced in the Schedule of Condition. The property extends to a gross internal area of 3,637 sq ft on a site of 0.48 acres with private customer parking for 19 cars. The property is fully fitted out to the tenants specifications. Formerly an MOT car service centre, a change of use was granted in September 2018 for Class 1 – Funeral Directors. The property is suitable for a variety of uses. EXCELLENT LOCATION. The property benefits from being within easy reach of Clydebank town centre, where a wide range of shops, cafés, restaurants and everyday services can be found. The property is located on a highly prominent site at the junction of Dumbarton Road and Great Western Road(A82) in the Clydebank area of Greater Glasgow. This is a main arterial road traffic route linking Glasgow’s West End to Dumbarton and onwards to Loch Lomond and the west coast of Scotland. Fosters Funerals was established in 2011 and the funeral business at Clydebank was opened in 2019. Fosters Funeral Directors was acquired by August Equity in 2018. Following a combination of additional business acquisitions and strong organic growth, Fosters is now the fastest growing funeral services provider in Scotland. This has been driven by providing a modern, high-quality and comprehensive service at a competitive price compared with the market leaders. August Equity are committed to supporting Fosters through a continued expansion programme throughout Scotland. Type of Agreement: Full Repairing & Insuring (FRI). Length: 15 Years. Rent: £40,000 per year / £3,333 per month. Yield: 6% (approx). Tenant: Company.