Ground and first floors let to Aberdein Considine until 2027 (subject to option)
Well located on pedestrianised City Centre retail thoroughfare
Adjacent to Marks & Spencer and The Thistles Shopping Centre
Category C Listed building (no empty rates payable)
Lot 86
Auction 19th October 2017
Rent £60,000 per Annum Exclusive
Status Sold
Price £560,000
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Insolvency Practitioners at Deloitte
Property Information
Location
Miles
25 miles north-east of Glasgow, 35 miles north-west of Edinburgh
Roads
A9, A84, A811, M9, M80
Rail
Stirling Railway Station
Air
Edinburgh Airport
Situation
Stirling is a historic city situated in the heart of central Scotland and has been referred to as the Gateway to the Highlands, being located close to Loch Lomond and The Trossachs National Park. The property is prominently situated in the heart of the City Centre on the east side of pedestrianised Port Street, adjacent to Marks & Spencer and The Thistles Shopping Centre. Other nearby occupiers include Holland & Barrett, Laura Ashley, New Look, Mountain Warehouse and Caffè Nero.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
25 miles north-east of Glasgow, 35 miles north-west of Edinburgh
Roads
A9, A84, A811, M9, M80
Rail
Stirling Railway Station
Air
Edinburgh Airport
Situation
Stirling is a historic city situated in the heart of central Scotland and has been referred to as the Gateway to the Highlands, being located close to Loch Lomond and The Trossachs National Park. The property is prominently situated in the heart of the City Centre on the east side of pedestrianised Port Street, adjacent to Marks & Spencer and The Thistles Shopping Centre. Other nearby occupiers include Holland & Barrett, Laura Ashley, New Look, Mountain Warehouse and Caffè Nero.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property, a Category C Listed building, comprises ground floor office accommodation with ancillary accommodation on the first floor. The basement, second, third and fourth floors provide additional ancillary accommodation and are not part of Aberdein Considine’s leased demise, but are included in the sale. These floors are not currently used and are not capable of being separately let. The tenant is currently undertaking their fit-out programme and is due to open for trade shortly.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Category C Listed building, comprises ground floor office accommodation with ancillary accommodation on the first floor. The basement, second, third and fourth floors provide additional ancillary accommodation and are not part of Aberdein Considine’s leased demise, but are included in the sale. These floors are not currently used and are not capable of being separately let. The tenant is currently undertaking their fit-out programme and is due to open for trade shortly.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First
Office/Ancillary Ancillary
137.01 sq m 132.00 sq m
(1,475 sq ft) (1,421 sq ft)
THE FIRM OF ABERDEIN CONSIDINE & COMPANY (1)
10 years from 17/08/2017 on a full repairing and insuring lease (2)
£60,000 (3)
17/08/2022 (4) (16/08/2027)
Basement, Second, Third & Fourth
Ancillary - not used
424.16 sq m
(4,565 sq ft)
VACANT
Total
693.17 sq m
(7,461 sq ft)
£60,000
(1) Aberdein Considine is an award-winning law firm with 19 offices across Scotland and the North of England, employing nearly 400 members of staff (Source: www.acandco.com). (2) The lease is subject to a tenant option to determine on 16/08/2022 subject to a six month break penalty. Additionally, the lease is subject to an external schedule of condition. (3) The tenant is currently benefiting from a two year rent free period from 17/08/2017 until 16/08/2019. The seller has agreed to adjust the completion monies so that the property will effectively produce £60,000 p.a.x. from completion of the sale. (4) The rent is reviewed to Open Market Rental Value subject to a maximum of £69,556.44 p.a.x.
