THE freehold of a highly popular and long-standing Greenock East End newsagents and convenience store, with a large yard and hot food use, is available to purchase through property agents Bowman Rebecchi.
McCormick’s, a highly visible retail unit in an outstanding location at 8 Grosvenor Street, is adjacent to the new £2million Craigend Resource Centre and close to King’s Oak Primary School, providing a range of opportunities for new owners.
The shop was run by the McCormick family for 50 years and purchased by Bowman Rebecchi’s client in 2020. It has continued to run as a successful business over the past three years with an annual turnover of £250,000.
Entry is from street level and provides a fantastic space for a business to position itself with passing footfall due to being surrounded by residential dwellings.
Internally, the property has a range of storage areas for convenience, as well as several fridges and freezers which are included in the sale.
A large till area includes a licence to sell cigarettes, a National Lottery till point (leased), and other tills and merchant machines.
To the rear is a small kitchen area, providing a range of hot-filled rolls and other takeaway and delivery foods as well as a small toilet area.
The subjects have a full CCTV system and include a large yard area to the rear which provides opportunities for further rental income having been partially cleared.
There is a wide variety of small/medium-sized businesses in close proximity at Ladyburn Business Park, as well as Cappielow Park, home to Greenock Morton Football Club.
The demand to own property in Inverclyde is strong, with this property and yard likely to command approximately £12,000 to £13,000 per annum from new tenancies, making this an attractive investment opportunity providing a 12 to 13 per cent yield.
Offers are invited for the purchase of the freehold in the property and yard, with an asking price in the region of £97,500. The subjects are not elected for VAT. The asking price includes stock at value, all machinery, fixtures, and fittings.