Page 7 - Shepherd Commercial Auctions - Catalogue 20/06/2024

Lot 4 27 Manor Street, Falkirk, Stirlingshire FK1 1NH Retail Investment
Features
• Prominent town centre location
• Unexpired term of 6 years and 7 months • Net Initial Yield 13%
• Passing rent £9,600 p.a.
Description
The subjects comprise retail premises arranged over the ground and part of the first floors of a four-storey building. The subjects benefit from a large glazed frontage, looking onto Manor Street.
Accommodation
Internally the subjects are arranged with an open plan retail space to the front of the property, with a rear general office, private office, and tea prep area. An additional staff room and toilet facility are provided at first floor level. NIA 84.11 sq. m. (906 sq. ft.).
Location
Falkirk is a town situated within Scotland’s Central Belt approximately 24 miles to the northeast of Glasgow and 26 miles west of Edinburgh. The town is ideally located in terms of road transport links with the M80/M9 Motorways in close proximity. The town is the administrative centre for Falkirk District and has a current population now estimated to be just short of 40,000 persons and a wider catchment population of circa 160,500 people within the Falkirk council area.
For connectivity, regular bus routes are also available from the town centre of Falkirk, as well as Falkirk Grahamston train station and Falkirk High train station.
The property, situated on Manor Street, benefits from a range of retail and commercial occupiers of both, national and local covenants. Nearby occupiers include Costa Coffee, O2, and Timpson's.
Energy Performance Rating The property has an energy rating of G.
Tenancy
The subject are let as a salon, trading as ‘The Barber Shop’ on an internal repairing and insuring lease. The passing rent is £9,600 (Excl. VAT) per annum, with a lease expiry date of 12th October 2030. There shall be an open market rent review on the 5th anniversary for the date of entry. Further lease information can be made available within the legal pack.
*Guide Price £70,000 (plus fees if applicable)
* Please see Buyer’s Terms for definition of guide price and auction fees
Auction Type
Unconditional Sale - The buyers fee is 2.88% inc VAT(2.4% plus VAT) subject to a minimum of £2,880 inc VAT(£2,400 plus VAT).
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