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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

OUTSTANDING INVESTMENT OPPORTUNITY. Commercial ground floor unit in HIGHLY PROMINENT TRADING POSITION. Rent £18,000 pa SUIT SHREWD INVESTOR. Retail/Class 2 Premises. Size:1945 sq ft,

PROPERTY CONSISTS:- ground floor retail/Class 2 premises, which has been partially sub-divided into two component units which share communal kitchen and toilet facilities.

Fully let and income producing Current Rent Roll £18,000 EXCELLENT INVESTMENT OPPORTUNITY reflecting a gross initial yield of 14% if achieved for the guide price.

Property is sure to appeal to investors looking to purchase an easily manageable/rentable property in a sought after location in STIRLING Town Centre. IMMEDIATE INCOME PRODUCING COMMERCIAL PROPERTY

Located in a prominent position. Cowane Street runs parallel to Wallace Street and is located close to the city centre with easy access to amenities, schools, parks, and local services.

OUTSTANDING INVESTMENT OPPORTUNITY. Commercial ground floor unit in HIGHLY PROMINENT TRADING POSITION. Rent £18,000 pa SUIT SHREWD INVESTOR. Retail/Class 2 Premises, Size:1945 sq ft, Property is sure to appeal to investors looking to purchase an easily manageable/rentable property in a sought after location in STIRLING Town Centre. IMMEDIATE INCOME PRODUCING COMMERCIAL PROPERTY. 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. Fully let and income producing Current Rent Roll £18,000 EXCELLENT INVESTMENT OPPORTUNITY reflecting a gross initial yield of 14% if achieved for the guide price. 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. 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. 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. Northern-most Unit This unit is arranged to provide a main retail/office, two private offices and shared kitchen/toilet facilities. The subjects are entered in the current Valuation Roll and benefits from the following Rateable Valuess: Southern-most Unit - £9,500 Northern-most Unit - £10,500 The southern most unit is let t HSTAR Scotland under a 5 year lease from 26th November 2021 on full repairing 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. reflecting a gross initial yield of 14% if achieved for the guide price.

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. 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

Full Address: 36-40 Cowane Street Commercial Investment, Stirling, FK8 1JR

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Rollng
Rent: £18,000 per year / £1,500 per month
Yield: 14% (approx)
Tenant: Private Individual
Notes:

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Pricing Information & Bidding

Opening Bid: £128,000

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 = 3% of Sale Price (Minimum £3,250 + vat)

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

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Auction Details

Date & Time: 28 November 2024, 10am-3pm
Type: Timed Online Auction

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