Santander
49 - 51 Port Street
Stirling
FK8 2EW

Heritable Bank Investment

  • Let to Santander UK plc
  • Reversionary lease recently signed extending the term for approximately 3 years at a re-based rent
  • Well located on pedestrianised City Centre retail thoroughfare
  • Immediately adjacent to Marks & Spencer and The Thistles Shopping Centre
  • Lot
    25
  • Auction
    07/Dec/2017
  • Rent
    £80,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £750,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Joint Administrators at Moorfields
Important Property Update
  • Santander<br>49 - 51 Port Street<br>Stirling<br>FK8 2EW
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Property Information

Location
Miles
25 miles north-east of Glasgow, 35 miles north-west of Edinburgh
Roads
A9, A84, A811, M9, M80
Rail
Stirling Railway Station
Air
Edinburgh Airport
Situation

Stirling is a historic city situated in the heart of central Scotland and has been referred to as the Gateway to the Highlands, being located close to Loch Lomond and The Trossachs National Park. The property is prominently situated in the heart of the City Centre on the east side of pedestrianised Port Street, immediately adjacent to Marks & Spencer and The Thistles Shopping Centre. Other nearby occupiers include Holland & Barrett, Laura Ashley, New Look, Mountain Warehouse and Caffè Nero.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a ground floor banking hall with ancillary accommodation on the first floor and forms part of a larger building.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground

First
Banking
Hall/Ancillary
Ancillary
203.45 sq m

31.94 sq m
(2,190 sq ft)

(344 sq ft)
SANTANDER UK
PLC (1)
Approx 27 years from
18/01/1993 on a full
repairing and insuring
lease (2)
£80,000 (2)31/12/2020
(2)
Totals
235.39 sq m
(2,534 sq ft)
  £80,000 (2) 

(1) For the year ending 31st December 2017, Santander UK Plc reported pre-tax profits of £1,917,000,000 and a total net worth of £13,618,000,000 (Source: Experian Group 19/09/2017).
(2) The tenant occupies the property under a lease for a term of 25 years from 18/01/1993 until 17/01/2018 at a current rent reserved of £102,000 p.a.x. A reversionary lease has been signed extending the term for an additional 3 years (approximately) from 18/01/2018 until 31/12/2020 at a rent of £80,000 p.a.x. Under the terms of the reversionary lease, the tenant is to benefit from a concessionary rent of £1 (if demanded) for five months from 18/01/2018 until 17/06/2018. The seller has agreed to adjust the completion monies so that the unit will effectively produce £80,000 p.a.x. from completion of the sale.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    07.12.17
    File Size
    10 MB
    Login to View
  • Site Plan
    Updated Date
    15.11.17
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    15.11.17
    File Size
    725 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk
Seller's Solicitors
Pinsent Masons LLP 141 Bothwell Street
Glasgow
G2 7EQ
Andrew Fordyce 0141 567 8672Andrew.Fordyce@pinsentmasons.com

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