Retail Property (High Street) in Grangemouth
Unit 42 La Porte Precinct, Grangemouth, FK3 8BG
- Lot No: 20
- Property Type: Retail Property (High Street)
- Contract Type: Unconditional
Guide Price* £160,000+ plus fees
Currently let to Subway Realty Limited, trading as Subway, (approximately 7 years to expiry) offering a gross yield of 9.45% at the current guide price. The retail unit is arranged over the ground floor of a 2 storey building under a pitched and slated roof. The accommodation provides retail space at the front with staff accommodation, storage and Wc facilities at the rear.
Grangemouth is situated in East Stirlingshire in the Forth Valley, on the Firth of Forth in Central Scotland and is situated approximately 3 miles east of Falkirk, 5 miles west of Bo'ness and 13 miles south east of Stirling. The town has a population of around 17,500 persons. The premises are situated on the pedestrainised west side of La Porte Precinct, the prime shopping location for the town centre. Nearby occupiers include Specsavers, Costa, British Heart Foundation, Boots and Cancer Research.
The subjects are let to Subway Realty Ltd on a Full Repairing and Insuring Lease for a period of 10 years beginning on 30th April 2017. There is a provision within the lease for a tenant only break option exercisable upon the 5th anniversary of the date of entry. The passing rent is currently £17,000 per annum. There is the provision within the lease for an upwards only rent review exercisable on the 5th anniversary of the date of entry.
Ground Floor: 79.16 sq m (852 sq ft) The above measurements have been calculated on a Net Internal area Basis from measurements taken on site and in accordance with the RICS code of measuring practice (6th edition).
The buyers fee on this lot is £1074 inc VAT
Rights of Way, Wayleaves, Easements, Restrictive Covenants Etc.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
See Legal Pack
Date 09th December 2020
Venue Shepherd Commercial Property Auction
The auction will be conducted by our auctioneer, Andrew Parker, behind closed doors and broadcast live online with remote bidding only. Please click here to submit a bid, www.sdlauctions.co.uk/remote-telephone-proxy-bidding
If you have any questions, call our team on 0345 222 0197