The subjects comprise a ground floor retail/Class 2 premises, which has been partially sub-divided into 2 component units which share communal kitchen and toilet facilities.
The building itself is two storey and attic in height, the front section being of traditional stone construction, contained under a pitched and slated roof.
Each of the component units has the benefit of an appropriate retail frontage to Cowane Street, incorporating separate timber/glazed entrance doors and display windows.
Location
The subjects are situated on the eastern side of Cowane Street (B8052) in close proximity to its junction with Wallace Street and Goosecroft Road, lying to the northern periphery of Stirling city centre.
In this regard, the subjects enjoy a busy main road frontage to Cowane Street and are located within an area of mixed residential and commercial usage, nearby occupiers including William Hill Bookmakers, as well as a number of hot food takeaways and licensed establishments.
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, having a resident population of over 36,000 people at the 2011 census.
Accommodation
Southern-most Unit - Internally, this unit is arranged to provide a main retail/Class 2 area, together with a range of rear storage/office sections and communal kitchen/toilet facilities.
Net Internal Area - 81.54 sq m (878 sq ft)
Northern-most Unit - This unit is arranged to provide a main retail/office, 2 private offices and shared kitchen/toilet facilities.
Net Internal Area - 67.46 sq m (726 sq ft)
Total Net Internal Area (combined) - 180.69 sq m (1,945 sq ft)
Terms
RATEABLE VALUE: Having regard to the Scottish Assessor’s website, we note that the subjects are entered in the current Valuation Roll as follows:-
Southern-most Unit - £9,500
Northern-most Unit - £10,500
TENANCY DETAILS: The southern most unit is let to HSTAR Scotland under a 5 year lease from 26th November 2021 on full repairing and insuring terms subject to a Schedule of Condition, at a passing rent of £10,000 per annum exclusive.
The northern most unit is let to Jorde Ltd on a 5 year full repairing and insuring lease from 18th September 2024, the tenant has the option to break at the end of 2.5 years, subject to the provision of 6 months rent notice. The rental is £8,000 per annum exclusive and the tenant has paid a 3 month deposit.
PRICE: A fixed price of £150,000 is invited for the benefit of our clients absolute ownership, reflecting a gross initial yield of 12%.
ENERGY PERFORMANCE: A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
VAT: All prices quoted are exclusive of VAT which maybe chargeable.
LEGAL COSTS: Each party will be responsible for paying 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
- Fully let and income producing
- Current rent roll of £18,000
- A fixed price of £150,000 is invited reflecting a gross initial yield of 12%.