The subjects comprise a two-storey detached modern office pavilion, constructed around 2005. The building is of steel frame and brick wall construction, surmounted by a timber pitched roof, clad with concrete tiles. Whilst the building is currently let to a single occupier, it has been designed to allow for horizontal and vertical sub division, creating varying floor areas for as many as four occupiers.
( Agency Pilot Software ref: 53457 )
Location
Stirling is widely regarded as one of Scotland’s busiest and most popular business and tourist locations, benefitting from an excellent strategic location within the heart of the country’s central belt. The city is located approximately 36 miles northwest of Edinburgh and 27 miles northeast of Glasgow and benefits from excellent transport links via the M9 and M80 motorways, together with mainline railway and bus stations. Macfarlane Gray House is situated within Castlecraig Business Park, a modern office development of three pavilions, on the east side of Players Road. The business park offers a prominent location on the fringe of Stirling city centre and is situated adjacent to Stirling Enterprise Park. Other businesses within the park include, Lomond Wealth Management, Denvir Marketing Consultants and Scottish Decorators Federation.
Accommodation
Ground Floor: 261.27sq.m (2812sq.ft )
First Floor: 271.56 sq.m (2923 sq.ft)
Total: 532.83 sq.m( 5736 sq.ft)
Terms
OFFERS: Our client’s heritable interest in the subjects is being sold with the benefit of the occupational lease. Offers in excess of £725,000 plus VAT are invited, reflecting an attractive net initial yield of 11.13% (allowing for purchaser’s costs and LBTT)
CLOSING DATE: A closing date for offers may be set and interested parties are therefore advised to register their interest with the selling agents. Our clients reserve the right to sell the property without setting a closing date and in setting the closing date are not bound to accept the highest offer or indeed any offer received.
EPC: Available on request.
VAT: All rents, prices, premiums etc. are quoted exclusive of VAT.
LEASE TERMS: The subjects are let to AAB Group on a 10-year full repairing and insuring lease, which commenced on 1st April 2024. There are tenant only break options at the end of years 3 and 7. The current passing rent is £76,460.88 per annum, equating to £13.33 per sq.ft, based on the net internal floor area.
Specification
- Rarely Available
- Office Investment Let to AAB Group
- Current Rental Income - £76,460 per annum
- Situated in Excellent Business Location
- Within Short Walk of Stirling City Centre