Lennox House, Great Western Road, Clydebank, G81 6DS

Availability

For Sale

Price

£550,000

Description

Poposed sale and leaseback with CPI linked uplifts in rental income

Location

Situated in the Duntocher area of Clydebank, part of Greater Glasgow, the property occupies a very prominent corner site fronting onto the A82 Great Western Road. 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.

Key Points

  • Highly prominent site at the junction of Dumbarton Road and Great Western Road (A82) in the Clydebank area of Greater Glasgow
  • Proposed Full Repairing and Insuring lease, subject to a Schedule of Condition, to The Independent Family Funeral Directors Ltd trading as Fosters Family Funeral Directors
  • The lease will be for a period of 15 years subject to a tenant’s only break option at the end of year 10
  • Proposed rent of £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 property extends to a gross internal area of 3,637 sq ft on a site of 0.48 acres with customer parking for 19 cars
  • Offers over £550,000 which reflects a net initial yield of 6.9%, subject to the standard purchaser’s costs for a sale and leaseback