Tenanted Commercial Property LOT 30

45-49 Manor Street, Falkirk, FK1 1NH
OPENING BID

Timed Online Auction

23 April 2021, 10am-4pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 45-49 Manor Street, Falkirk, FK1 1NH

PRIME LET COMMERCIAL UNIT. Current rental of £10,000 pa. *FALKIRK TOWN CENTRE RETAIL PROPERTY* WAS SOLD £300,000 (MAY 2011)

Occupiers close by include Betfred, Subway, William Hill, Costa, Ladbrokes and the Howgate Centre. Rent: £10,000p.a. Fixed increase to £12,000p.a.x September 2022

EXCELLENT SIZE. The property is arranged on ground floor only to provide a ground floor lock-up betting office. GROUND FLOOR 131 SQ METRES. - 1410 SQ FEET

Property is sure to appeal to investors looking to a easily rentable property in a sought after location in Falkirk city centre.

Falkirk, with a population of 38,000, in central Scotland, 25 miles north-east of Glasgow, 23 miles west of Edinburgh and 15 miles south of Stirling. Access to the town is via the M80 and M9 motorways

PRIME LET COMMERCIAL UNIT. Current rental of £10,000. *FALKIRK TOWN CENTRE RETAIL PROPERTY* WAS SOLD £300,000 (MAY 2011) EXCELLENT SIZE. The property is arranged on ground floor only to provide a ground floor lock-up betting office. GROUND FLOOR 131 SQ METRES. - 1410 SQ FEET. Property is sure to appeal to investors looking to a easily rentable property in a sought after location in Falkirk city centre. The property is occupied as a bed and lounge showroom trading as “Bedz At Home”. The tenant has operated in Falkirk for the past 12 years from a warehouse close by, however due to the dilapidated condition of the property, has required to make a timely move to a full retail outlet. Offering beds and lounge furniture at discounted prices, the tenant benefits from a large captive market. Currently the tenant is actively seeking further locations in Alloa, Stirling and Grangemouth. Tenant: Personal name t/a “Bedzathome” Term: 10yrs (Expiry 27th September 2030) Tenant Break: 28th September 2025 Rent: £10,000p.a. Fixed increase to £12,000p.a. September 2022

The property is situated on the south side of Manor Street, which runs parallel to High Street, between its junctions with Kirk Wynd and Wooer Street. Falkirk, with a population of 38,000, is located in central Scotland, 25 miles north-east of Glasgow, 23 miles west of Edinburgh and 15 miles south of Stirling. Access to the town is via the M80 and M9 motorways, which in turn provide direct access to both Glasgow and Edinburgh.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Expiry 27th September 2030
Rent: £10,000 per year / £833 per month
Yield: 11% (approx)
Tenant: Company
Notes: Tenant: Personal name t/a “Bedzathome” Term: 10yrs (Expiry 27th September 2030) Tenant Break: 28th September 2025 Rent: £10,000p.a.x Fixed increase to £12,000p.a.x September 2022

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Location

Pricing Information & Bidding

Opening Bid: £76,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 23 April 2021, 10am-4pm
Type: Timed Online Auction

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