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
Shepherd Commercial Auctions

Guide Price* £160,000+ plus fees

Property Description

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. 

Location

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.


Tenancy Details

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.


Accommodation

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).


Note:

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.


Tenure

See Legal Pack


Conditions of Sale The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.   The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.   A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.   *Guide Prices and Reserve Prices Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.   Energy Performance Certificates EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.   Note Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.   Auction Fees The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.   The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.