44 King Street Stirling FK8 1AY

44 King Street
Stirling
FK8 1AY

Heritable Retail Investment

  • Prominent former department store
  • Asset management opportunities
  • Let to Creative Stirling for community uses
  • B listed building
  • Located on historic route to Stirling Castle
  • 2020 Tenants Option to Break not exercised
  • Lot
    35
  • Auction
    21st May 2020
  • Rent
    £27,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £216,500
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
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  • Photos
  • Map

* More information on the term "guide" can be found here

Heritable Retail Investment

  • Prominent former department store
  • Asset management opportunities
  • Let to Creative Stirling for community uses
  • B listed building
  • Located on historic route to Stirling Castle
  • 2020 Tenants Option to Break not exercised
  • Lot 35
  • Auction 21st May 2020
  • Rent
  • Status Sold
  • Price £216,500
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
27 miles north of Glasgow,
38 miles west of Edinburgh
Roads
M9, M80, A9
Rail
Stirling Railway Station (ScotRail)
Air
Glasgow International Airport
Situation

The property occupies a position close to the junction of Corn Exchange Road and pedestrianised King Street, an established retail and leisure location within the city centre. The property is close to the Stirling Thistles Marches Shopping Centre housing retailers including Marks & Spencer, H&M and Zara. To the northwest is the historic route towards Stirling Castle.

Tenure

Heritable.

Location
Miles
27 miles north of Glasgow,
38 miles west of Edinburgh
Roads
M9, M80, A9
Rail
Stirling Railway Station (ScotRail)
Air
Glasgow International Airport
Situation

The property occupies a position close to the junction of Corn Exchange Road and pedestrianised King Street, an established retail and leisure location within the city centre. The property is close to the Stirling Thistles Marches Shopping Centre housing retailers including Marks & Spencer, H&M and Zara. To the northwest is the historic route towards Stirling Castle.

Tenure

Heritable.

Description

The property comprises a former department store over basement, ground and three upper floors. The property functioned with retail and cafe accommodation on ground and first floors, storage and ancillary at basement level and similar storage at second floor level. The third floor was historically a residential flat. The ground and first floors are largely open plan with the benefit of a passenger lift between the two floors.

VAT

VAT is applicable to this lot.

Planning

The property in part may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Stirling Council. www.stirling.gov.uk

Viewings

Please contact Mhairi Archibald (07718 899341)

Completion Period

6 week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a former department store over basement, ground and three upper floors. The property functioned with retail and cafe accommodation on ground and first floors, storage and ancillary at basement level and similar storage at second floor level. The third floor was historically a residential flat. The ground and first floors are largely open plan with the benefit of a passenger lift between the two floors.

VAT

VAT is applicable to this lot.

Planning

The property in part may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Stirling Council. www.stirling.gov.uk

Viewings

Please contact Mhairi Archibald (07718 899341)

Completion Period

6 week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reersion
Ground
Basement
First
Second
Third
Retail
Ancillary
Retail/cafe
Ancillary
Residential Flat
378.75 sq m
116.53 sq m
546.63 sq m
68.56 sq m
4,076 sq ft
1,254 sq ft
5,884 sq ft
738 sq ft
Creative Stirling
(1)
5 years from
21/10/2018 to
20/10/2023 (2)
£27,500 (20/10/2023)
Total
1,110.47 sq m (3)
11,953 sq ft (3)
& a residential flat
    £27,500  

(1) Creative Stirling was established in 2012 as a small collective of creatives working together to support grass-root arts and culture in Stirlingshire. In 2016 Creative Stirling became a Scottish Charity that operates as a social enterprise.
(2) There was a tenant break option on 21/10/2020 that was not actioned so the lease will run until 20/10/2023.
(3) All the floor areas are from the Assessor for Central Scotland (www.saa.gov.uk)

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.20
    File Size
    622 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.20
    File Size
    321 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
MBM Commercial 5th Floor, 125 Princes Street
Edinburgh
EH2 4AD
Jane Ramsay 0131 226 8222jane.ramsay@mbmcommercial.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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