Town centre Retail unit
Located on Henderson Street, Bridge of Allan
Sale Price OIEO £300,000
Rental OIEO £25,000 per annum
Ground and firstfloor accommodation extending to 185.34 sq.m / 1,995 sq. ft NIA
Modern and attractive fitout, previously occupied by costa coffee
Busy retail parade with high pedestrian & vehicular footfall
Location
The property occupies a prime retail location on Henderson Street in the popular town of Bridge of Allan. Bridge of Allan is located 3 miles north of Stirling city centre and has a population of approximately 5,500 residents. The property is located on the south side of Henderson Street and provides a good frontage with high visibility onto a well-established street with high pedestrian footfall. The street is home to a number of well-known national retailers, including Dominos, Lloyds Pharmacy, Bains and Run 4 It. The street is also home to Nick’s, a restaurant run by celebrity chef Nick Nairn. The surrounding location is generally of a retail and residential nature, with neighbouring occupiers including La French Epicerie and Gelato Pizza.
Description
This property is a two-storey mid-terraced retail unit offering modern retail accommodation over the ground and first floors. The ground floor comprises an open-plan seating/sales area, a service area, and a WC. The first floor provides customer seating, a WC and storage on the half landing.
The property was previously occupied by Costa Coffee and is presented in their standard corporate fit-out.
Lighting is a mix of spotlights and pendant lamps. Electric radiators provide heating, and there is air conditioning present. The property has two large customer display windows and a fascia board for signage.
Accommodation
From measurements taken on-site and in accordance with the RICS code of measuring practice (6th edition), we calculate the Net Internal Area of the subjects to extend as follows:
Ground and first-floor accommodation extending to 185.34 sq.m / 1,995 sq. ft NIA
Price/Rental
The heritable interest in the subjects are offered for sale at offers in the region of £300,000. Alternatively, the property can be leased on a full repairing and insuring lease incorporating regular rent reviews at an initial rent of £25,000 per annum.
VAT
Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT which may be chargeable.
Rateable value
The subjects are entered in the current Valuation Roll with a rateable value of £12,600.
Provisionally, the subjects are entered into the April 2023 valuation at a rateable value of £12,600.
Planning
The subjects were previously used as a Costa, and we have assumed that the subjects will benefit from an unrestricted Class 1 (shops) consent, all in terms of the Town and Country Planning (Use Classes) (Scotland) Order 1997.
EPC
The property has an energy performance rating of G.
Legal costs
Each party is to bear their own legal costs relating to this transaction; however, the in-going tenant will be responsible for any LBTT, Registration dues and any vat incurred thereon.
Anti-money laundering regulations
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26 June 2017. This now requires us to conduct due diligence on our clients and purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.
