The subjects comprise a two storey building of brick construction with a roughcast finish.
The ground floor provides two recently formed and refurbished retail units each benefitting from large glazed frontages.
Unit 1 is currently occupied and trading as a fish and chip shop. The current layout provides large open plan front area, rear prep area/storage and w.c. The tenant has invested considerable expenditure fitting out the property with a large range, extraction and other inbuilt equipment.
Unit 2 is currently occupied as a hairdressing salon. The tenant has fitted out the property to provide a number of cutting stations, backwashes and treatment areas.
The first floor is currently utilised as a four bed serviced apartment and is available by separate negotiation.
Offers over £350,000 are invited (Heritable freehold interest) for the two retail units.
Alternatively offers over £550,000 are invited (Heritable freehold interest) for the whole building including the two retail units and four bed serviced apartment.
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):
Hot food takeaway 118m²/1,270ft²
Serviced apartment 155.25m²/1,671ft²
Unit 1 is let on a full FRI lease for £18,000 + VAT per annum with 10 years left on the lease and a rent review in February 2028.
Unit 2 is also a full FRI lease at £15,000 + VAT per annum until June 2028 with a rent review in July 2024.
The first floor is operated as a serviced apartment complex with the rooms being rented on short term basis. Occupancy levels are good and supported by local contractors.
Part of the rear yard is leased to Peking Cuisine at £840 per annum.
All queries in relation to redevelopment/ reconfiguration of the subjects should be addressed to Falkirk 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 or let the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale/lease of the property.
Rateable value Hairdressers £8,800, Hot food takeaway £10,200 & Serviced accommodation £3,150.
Both retail units benefit from having a C EPC rating.
A copy of the EPC will be available upon request.
All prices, premiums and rents quoted are exclusive of VAT.