The subjects comprise a five-storey building arranged over part ground (Entrance Area), first, second, third and fourth floors. This description relates solely to the upper floors, which are currently utilised as a mix of office and storage space. The upper floors are well-configured, benefit from good natural light and are in sound condition throughout.
The building enjoys prominent frontage onto Port Street and provides efficient vertical circulation. There will be a separate Entrance Area available via Dumbarton Road. The rest of the ground floor will comprise 3 retail units with 2 of the units under offer to national operators.
Development Opportunity - The upper floors offer significant potential for alternative uses including student accommodation, residential, hospitality, or leisure (subject to securing the necessary planning permissions). Given the current layout of the property, there is potential to extend the fourth floor to create additional floor space and accommodate more rooms, as illustrated in the potential schemes overleaf.
KEY FEATURES:
Floors 1 to 4: Office and Storage Use
Prominent Port Street Frontage
Access via Dumbarton Road
Suitable for Sub-Division
Floor Plans Available on Request
Location
The premises occupy a prime position on Port Street within the city centre of Stirling. Stirling has a central location within Scotland, approximately 36 miles north west of Edinburgh and 26 miles north east of Glasgow. The city has excellent road connectivity with access to the M9 and M80 both within a 5 mile radius. The city benefits from a resident population of approximately 40,000 people along with a number of prominent tourist attractions and a highly regarded university.
The premises are located on the west side of the pedestrianised Port Street opposite M&S and The Thistles Shopping Centre. Nearby occupiers include M&S, Mountain Warehouse, Greggs, Nationwide and The Works.
Accommodation
First Floor - 16,092 sqft / 1,495 sqm
Second Floor - 15,963 sqft / 1,483 sqm
Third Floor - 11,786 sqft / 1,095 sqm
Fourth Floor - 1,130 sqft / 105 sqm
Terms
Price - On application.
Rates - Rateable Value: To be re-assessed
Planning - The property may suit alternative uses subject to obtaining all necessary planning consents. We have lodged pre-planning applications to Stirling Council to explore three potential redevelopment options for the site: Student Accommodation, Hotel and residential use.
The proposed student accommodation scheme would comprise 114 rooms arranged over four storeys.
The residential proposal provides for 48 self-contained flats.
The hotel option would comprise a 120-bedroom scheme.
Potential layout schemes/plans for re-development available on request.
EPC - On application
Legal Costs - Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
Specification
- Prime Development Opportunity – Upper Floors
- Potential for alternative use subject to planning
- *Pre-planning Application Submitted*
- Student accommodation / hotel / residential / leisure
- Price: On application