7-11 Port Street
Stirling
Central
FK8 2EJ

Prime Heritable Bank Investment

  • Lease recently extended until expiry September 2027 (No breaks)
  • Rebased rent of £113,500 p.a.x (previous rent £143,000 p.a.x)
  • Extensively refurbished at tenant's cost of over £300,000
  • Prominent position on pedestrianised Port Street
  • Nearby occupiers include Greggs, M&S, Cafe Nero and Santander
  • Lot
    20
  • Auction
    25/Mar/2021
  • Rent
    £113,500 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 7-11 Port Street<br>Stirling<br>Central<br>FK8 2EJ
  • Expand
  • Photos
  • Map

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

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 well connected to the motorway system linking the main cities in Scotland
The property occupies a prominent position in the city centre on the east side of pedestrianised Port Street at the junction with King Street leading to Stirling Castle. The unit is close to the entrance to the Stirling Thistles Marches Shopping Centre housing retailers including Marks & Spencer, H&M and Zara. Nearby occupiers on Port Street include Cafe Nero, Greggs and Santander.

Tenure

Heritable.

Description

The property comprises a ground floor retail space fitted out to Bank of Scotlands high street branch standard and with ancillary space in the basement. The property was extensively refurbished by the tenant at lease extension at a cost of over £300,000.

VAT

VAT is applicable to this lot.

EPC

See legal pack for details

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.x
Basement
Ground Floor
Ancillary
Banking
375 sq m
355 sq m
(4,036 sq ft)
(3,821 sq ft)
Bank of Scotland
PLC (1)
25 years to
29/09/2027(2)
£113,500
Total
730 sq m
(7,867 sq ft)
  £113,500

(1) For the year ending 31st December 2020, Bank of Scotland Plc reported pre-tax profits of £1,226,000,000
(Source: www.lloydsbankinggroup.com 03/03/2021). Bank of Scotland is part of Lloyds Banking Group, the UKs leading financial services company that serves around 27 million customers.
(2) The subjects were originally let to Bank of Scotland PLC on a Full Repairing and Insuring lease for 20 years beginning 1st October 2002. By way of a minute of variation, signed in February 2019, the lease has been extended to 29th September 2027 with no breaks. The rent has bee re-based to £113,500pa (Previous rent £143,000)

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    12.03.21
    File Size
    20 MB
    Login to View
  • Catalogue Page
    Updated Date
    05.03.21
    File Size
    693 KB
    View PDF
  • Site Plan
    Updated Date
    05.03.21
    File Size
    880 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Associate Auctioneers
TSA Property Consultants 162 Buchanan Street
Glasgow
Jas Aujla 07810717229jas@tsapc.co.uk
Seller's Solicitors
MTL Law 126 W Regent St,
Glasgow
Lanarkshire
G2 2RQ
David Morris 0141 222 5793david@mtllaw.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now