MULTI-LET INVESTMENT FOR SALE – STIRLING

For Sale
  • Offers over £425,000
  • Property Type:
  • Location:
  • Floors: 2
  • Parking: Nearby
  • Sq Ft: 17,751
  • OFFERS OVER £425,000
  • 17,751 FT2
  • DESIRABLE COMMERCIAL LOCATION
  • NET INITIAL YIELD OF 10%
  • REVERSIONARY YIELD OF 11.5%
  • GOOD LEVELS OF NEARBY PARKING
  • DEVELOPMENT POTENTIAL

LOCATION

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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 premises are located on the east side of Forth Street within Stirling’s mixed use Riverside area. The surrounding area comprises commercial and residential accommodation.

DESCRIPTION

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The subjects comprise a multi let terraced building formed predominantly over single floor level with partial second floor. The buildings are of brick construction with a rough cast finish overlaid in a multi pitched roof.

The current configuration comprises open plan church hall, retail showroom over two floors and rear ground floor workshop.

PROPOSAL

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Offers over £425,000 are invited for the Heritable (freehold) interest.

FLOOR AREAS

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From sizes taken during our inspection we calculate the subject property, measured in accordance with the RICS Code of Measurement Practice (second edition, January 2018) to extend to the following approximate gross internal area (GIA):

36 Forth Street – 283 m2/3,046ft2

38 Forth Street – 133.65m2/1,439ft2

40 – 46 Forth Street – 911.7m2/9,814ft2

48 Forth Street – 320.74m2/3,452ft2

TENANCY AGREEMENT

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The properties are all currently leased on relatively short lease agreements. We have been advised that the agreed rents are as follows;

36 – 38 Forth Street – £12,000 p.a. (10 year lease with 5 year break option in 2027)

40 – 46 Forth Street – £18,000 per annum

48 Forth Street – £14,000 p.a. (Leased until 31/12/2025)

EPC

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F.

VAT 

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All prices, premiums and rents quoted are exclusive of VAT.

PLANNING

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All queries in relation to redevelopment/ reconfiguration of the subjects should be addressed to Stirling Council Planning Department.

CLOSING DATE

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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.

PUBLICATION DATE 09/03/2022

Price:Offers over £425,000
Address:36 - 48 Forth Street
City:Stirling
Postcode:FK8 1UF
Floors:2
Square Feet:17,751
Parking:Nearby
Property Type:Multi-Let Investment
Tagged Features:

Location Map