Heritable Retail Investment
Heritable Retail Investment
The property occupies a position close to the junction of Corn Exchange Road and pedestrianised King Street, an established retail and leisure location within the city centre. The property is close to the Stirling Thistles Marches Shopping Centre housing retailers including Marks & Spencer, H&M and Zara. To the northwest is the historic route towards Stirling Castle.
Heritable.
The property occupies a position close to the junction of Corn Exchange Road and pedestrianised King Street, an established retail and leisure location within the city centre. The property is close to the Stirling Thistles Marches Shopping Centre housing retailers including Marks & Spencer, H&M and Zara. To the northwest is the historic route towards Stirling Castle.
Heritable.
The property comprises a former department store over basement, ground and three upper floors. The property functioned with retail and cafe accommodation on ground and first floors, storage and ancillary at basement level and similar storage at second floor level. The third floor was historically a residential flat. The ground and first floors are largely open plan with the benefit of a passenger lift between the two floors.
VAT is applicable to this lot.
The property in part may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Stirling Council. www.stirling.gov.uk
Please contact Mhairi Archibald (07718 899341)
6 week completion
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a former department store over basement, ground and three upper floors. The property functioned with retail and cafe accommodation on ground and first floors, storage and ancillary at basement level and similar storage at second floor level. The third floor was historically a residential flat. The ground and first floors are largely open plan with the benefit of a passenger lift between the two floors.
VAT is applicable to this lot.
The property in part may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Stirling Council. www.stirling.gov.uk
Please contact Mhairi Archibald (07718 899341)
6 week completion
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reersion | |
|---|---|---|---|---|---|---|---|
| Ground Basement First Second Third |
Retail Ancillary Retail/cafe Ancillary Residential Flat |
378.75 sq m 116.53 sq m 546.63 sq m 68.56 sq m |
4,076 sq ft 1,254 sq ft 5,884 sq ft 738 sq ft |
Creative Stirling (1) |
5 years from 21/10/2018 to 20/10/2023 (2) |
£27,500 | (20/10/2023) |
| Total |
1,110.47 sq m (3) |
11,953 sq ft (3) & a residential flat |
£27,500 | ||||
(1) Creative Stirling was established in 2012 as a small collective of creatives working together to support grass-root arts and culture in Stirlingshire. In 2016 Creative Stirling became a Scottish Charity that operates as a social enterprise.
(2) There was a tenant break option on 21/10/2020 that was not actioned so the lease will run until 20/10/2023.
(3) All the floor areas are from the Assessor for Central Scotland (www.saa.gov.uk)
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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