• EXCELLENT TRANSPORT NETWORKS
• 3,605 SQ FT
• OFFERS OVER £275,000
• OFFICE FACILITIES AND WORKSHOP
• PASSING RENT OF £25,000 p.a.
• 5 YEAR LEASE TO WELL ESTABLISHED TENANTS
Stirling is a city in central Scotland. Stirling is a centre for local government, higher education, tourism, retail, and industry. The 2011 census recorded the population of the city as 45,750; the wider Stirling council area has a population of about 91,000. The City is reputed to be the third fastest growing area of Scotland in terms of population.
A major new regeneration project on the site of the former port area and the former Ministry of Defence site, adjacent to Stirling Railway Station, is currently underway. Known as Forthside, it has the aim of developing a new waterfront district linked to the railway station via a new pedestrian bridge.
Stirling is well located in central Scotland being almost equidistant between Glasgow, Edinburgh and Perth. The city benefits from good transport links to include a mainline railway, bus depot and easy access onto the Motorway network.
The subjects are located on the northern side of Borrowmeadow Road between its junctions with Whitehouse Road and Munro Road and within Springkerse Industrial Estate.
The subjects comprise a modern end terraced industrial unit of steel portal frame construction with insulated profiled sheet walls and roof. Externally, the property benefits from a large carpark area.
Ground floor provides large open plan workshop/office area, server room, tea prep area, reception area, and w.c. facilities.
The first floor provides open plan office area, directors office and board room.
The property is currently leased as two separate units (ground floor and first floor) to two separate companies, Miigen (UK) Ltd and 2 E-Volve (UK) Ltd, both have a new 5 year lease at £12,500 p.a. offering an investor a combined rental return of £25,000 p.a. with a yield of 9%. The lease is drawn along standard full repairing and insuring (FRI) terms.
From sizes taken during our inspection, we understand that the subject property, measured in accordance with the RICS Property Measurement Professional Statement (First Edition, May 2015) incorporating the International Property Measurement Standards and the RICS Code of Measuring Practice to extend to the following approximate gross internal area (GIA):
Offers over £275,000 for the landlord’s heritable interest.
The current rateable value of the property is:
Ground floor: £8,900
First floor: £8,600
All queries in relation to the use class of the subjects should be addressed to Stirling Council Planning Department.
A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent. We reserve the right to sell the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale of the property.
Vat will be payable on all costs.
A copy of the EPC will be available upon request.
PUBLICATION DATE 22/10/2019
|Price:||Offers over £275,000|
|Address:||Unit 1, 15 Borrowmeadow Road|
|Property Type:||Industrial Unit/Office Investment|