The subject comprises a single storey detached retail premises built of brick and block contained under a flat roof.
Internally the subject is arranged to provide a main retail area with storage, staff room and toilets located in the rear. The subjects also benefit from having a rear loading area and customer parking to both the front and rear of the building.
Location
The subjects are situated on the eastern side of Glasgow Road lying on one of the main tributary roads into the heart of the city of Stirling. The property occupies a prominent site at the junction with Gillespie Road, in a residential area. Opposite are the 1314 public house and the site of the Battle of Bannockburn.
Stirling itself comprises an important city within central Scotland lying upon the banks of the River Forth approximately 26 miles north east of Glasgow and some 30 miles north west of Edinburgh. The city forms the main administrative centre for the surrounding district providing extensive retail, leisure and local government facilities.
Accommodation
We calculate the subjects extend to the following areas:
Ground Floor – 77.02 sq. m (829 sq. ft.)
Terms
RATEABLE VALUE: Having regard to the Scottish Assessors Association Website we note that the subjects are entered in the current valuation roll at a rateable value of £7,300. The small business bonus scheme was introduced on the 1st April 2008 and will remain in force for 2020/2021 and, given the rateable value of the subjects, eligible parties will benefit from 100% discount.
LEASE TERMS: The entire property is at present let to East Coast Retail LTD for a term of 20 years from the 18th August 2017 at a current rent of £13,000 per annum. The lease provides for rent reviews for every 3rd year of the term to the greater of 4% above the rent payable or 2% over RPI, and contains a full repairing and insuring covenant.
PRICE: Offers over £100,000 are invited for the benefit of our client’s absolute ownership.
ENERGY PERFORMANCE: A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request. However the rating in G.
VIEWING: Strictly by arrangement with the sole letting agents.
VAT: All prices quoted are exclusive of VAT which maybe chargeable.
LEGAL EXPENSE: Each party will be responsible for the payment of their own legal costs. The incoming tenant will be responsible for the payment of any LBTT, registration dues and VAT incurred.
OFFERS: All offers should be submitted in strict Scottish Legal Form to the Falkirk Office.
Specification
- Heritable convenience store investment
- Let on a lease expiring 2037
- Current passing rent at £13,000 per annum
- Offers over £100,000 are invited