DESCRIPTION
The subjects comprise a ground and basement level corner retail unit within a category B-listed building of masonry construction, under a pitched and slated roof. The Edwardian building features ornate sandstone walls to the principal street frontage, and is arranged over five floors.
Access to the property is via a recessed pedestrian entrance door. Internally, there is an open plan sales area which has been fitted out with corporate branding. The ceilings are of suspended tile grid which incorporate recessed spot lighting. The flooring is covered with commercial laminate. Customer welfare facilities are located to the rear. An internal stairwell provides access to the basement which has a staff breakout area, kitchen and ancillary space.
TENANCY
The property is let to Done Brothers (Cash Betting) Limited on a lease that commenced in May 2013 and expires in May 2028. The current rent is £25,000 per annum. The lease is subject to a tenant only break option in May 2026.
OFFERS
Offers over £275,000 are invited for our clients’ heritable interest (Scottish equivalent to English Freehold) subject to the leasing agreement in place. Based on a rental income of £25,000 per annum, a purchase at this level would reflect a net initial yield of 9%.
Location
Falkirk is the main town in the central belt of Scotland, lying close to mid-way between Edinburgh and Glasgow forming the main administrative centre for the surrounding district. The A904 Ladysmill is in close proximity and provides direct access to the M9 motorway. Falkirk Grahamston is the nearest train station located a short distance to the north of the property.
The property is located in a prominent situation on the corner of High Street and Kirk Wynd, in the heart of the prime pedestrianised shopping pitch on High Street, immediately in front of the Howgate Shopping Centre. Neighbouring occupiers including Boots, Waterstones, EE and Costa Coffee.
Accommodation
Ground Floor - 99.60 sqm (1,072 sqft)
Basement Floor - 65.90 sqm (709 sqft)
TOTAL - 165.50 sq m (1,781 sq ft)
Terms
TENANCY
The property is let to Done Brothers (Cash Betting) Limited on a lease that commenced in May 2013 and expires in May 2028. The current rent is £25,000 per annum. The lease is subject to a tenant only break option in May 2026.
OFFERS
Offers over £275,000 are invited for our clients’ heritable interest (Scottish equivalent to English Freehold) subject to the leasing agreement in place. Based on a rental income of £25,000 per annum, a purchase at this level would reflect a net initial yield of 9%.