The subjects comprise of a modern, purpose built retail block occupying a very prominent position within the town centre, and benefitting from an adjacent, Council-owned car park, providing approximately 42 spaces.
Location
Stenhousemuir is situated in Central Scotland within the district of Falkirk, with a population of approximately 25,000 residents and a further catchment in excess of 140,000. Falkirk is situated approximately 2.5 miles to the south, Stirling approximately 10 miles to the north and Glasgow some 23 miles south-west via the M80.
The town centre has undergone considerable redevelopment in recent years, now providing community facilities including a new Health Centre, Library and Community Hall. The site is ideally positioned at the entrance to the town centre, adjacent to a 40,000 sq ft ASDA superstore.
Other neighbouring occupiers include Farmfoods, B&M Bargains, RBS, Greggs, Subway, Lloyds Pharmacy and Strathcarron Hospice.
Accommodation
Unit 1 King Street - 1,153 sq ft
Unit 2/3 King Street - 3,670 sq ft
Unit 4 King Street - 7,446 sq ft
Terms
PROPOSAL - Offers are invited in excess of £1.2 million (One Million, Two Hundred Thousand Pounds) exclusive of VAT, reflecting a net initial yield of 9.13%, after deducting standard purchaser’s fees and LBTT.
SERVICE CHARGE - There is a service charge covering the maintenance and repair of these units. Further details on application.
EPC RATINGS
UNIT 1 - G
UNIT 2/3 - G
UNIT 4 - G
TENURE - Heritable interest (Scottish equivalent to English freehold).
VAT - The property is elected for VAT purposes. However, it is anticipated that the sale will be dealt with as a Transfer of Going Concern (TOGC) and therefore no VAT will be payable on the purchase price.
Specification
- Three modern retail units providing a total of approximately 12,269 sq ft (1,140 sq m)
- Occupying a prominent position in the heart of Stenhousemuir town centre
- Part of a Council-driven Town Centre redevelopment in 2007/2008
- Town Centre anchored by a 40,000 sq ft ASDA superstore, a range of other shop units, a public library, a health centre and a substantial free town centre car park
- 100% let to Falkirk Council, Strathcarron Hospice and Topaz Beauty
- Annual passing rent of £115,536
- Offers are invited in excess of £1.2 million exclusive of VAT, reflecting a net initial yield of 9.13%, after deducting standard purchaser’s fees and LBTT