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49-55 Port St 1,968 sq ft Retail Unit Offered at £385,000 in Stirling FK8 2EW
INVESTMENT HIGHLIGHTS
- Located on the pedestrianised pitch of Port Street
- Value-add enhancement angle through conversion of the first floor to a residential apartment (subject to planning)
- Let to Your-Move.co.uk Limited (01864469) until 24 May 2029
EXECUTIVE SUMMARY
The premises are located in the central pedestrianised section of Port Street. Port Street is one of the key retailing thoroughfares in Stirling and occupiers in the immediate vicinity include McDonald’s, Specsavers, Pizza Express, Cancer Research, Bob & Berts, Sainsbury’s Barclays, HSBC, Bodycare, H&M and Marks & Spencer. The Thistles Shopping Centre lies adjacent to the premises and is home to over 90 retail stores spread over 500,000 sq ft together with 1,450 car parking spaces. The subject premises comprise of ground and first floor forming part of a midterraced, four storey Grade B Listed building held under a pitched and slated roof.
PROPERTY FACTS
| Total Property Size | 4,497 sq ft | Floors | 4 |
| Property Type | Retail (Unit) | Typical Floor Size | 1,124 sq ft |
| Property Subtype | Shopfront Retail / Residential | Year Built | 1978 |
| Costar Property Class | B | Total Plot Size | 0.12 ac |
| Total Property Size | 4,497 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | B |
| Floors | 4 |
| Typical Floor Size | 1,124 sq ft |
| Year Built | 1978 |
| Total Plot Size | 0.12 ac |
AMENITIES
- Storage Space
1 UNIT AVAILABLE
Unit 53-55
| Unit Size | 1,968 sq ft | Sale Type | Investment |
| Price | £385,000 | Tenure | Freehold |
| Price Per sq ft | £195.63 | Net Initial Yield | 9.25% |
| Unit Use | Retail | NOI | £35,612.50 |
| Unit Size | 1,968 sq ft |
| Price | £385,000 |
| Price Per sq ft | £195.63 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 9.25% |
| NOI | £35,612.50 |
DESCRIPTION
The property is accessed via a centrally recessed pedestrian access door whilst internally the property is open plan in nature at ground floor comprising of a main sales space together with staff office/meeting rooms to the rear. Access to the first floor is via a concrete stairwell to the rear of the property. The first floor is cellular in nature with staff rooms, kitchen, stores and offices together with male and female toilet facilities. From first floor there is a separate access/escape route into the common stairwell for the residential flats above which provides direct access out onto Port Street. We believe there is the potential for a residential flat to be created at first floor level subject to gaining the necessary statutory planning consents.
SALE NOTES
Instructed to seek offers in excess of £385,000 (THREE HUNDRED AND EIGHTY FIVE THOUSAND POUNDS STERLING) exclusive of VAT. A purchase at this level reflects an attractive 9.25% net initial yield after allowing for standard purchasers’ costs of 3.81%.
NEARBY MAJOR RETAILERS
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49-55 Port St
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