* Freehold
* Prestigious Thistles Shopping Centre location
* Fantastic prime freehold retail opportunity
* 25, 000+ sq. Ft unit over two levels and basement
* Potential rental yield of 16%
* Visit the Auction House Scotland website to download the Legal Pack
* Perfect for national brand occupier or commercial investment
Freehold retail unit
Such a fantastic prime freehold retail opportunity is rarely available through
auction. Unit 42 enjoys prime location on the Kings Mall within the
prestigious Thistles Shopping Centre in the heart of Stirling, with nearby
neighbours including renowned national brands such as Boots, Marks and Spencer
and Primark. The total unit extends to approximately 25, 474 sq. ft (2, 367 sq. m)
over ground floor (8, 203 sq. ft/762 sq. m), first floor (12, 132 sq. ft/1, 127
sq. m) and basement/loading bay area (5, 139 sq. ft/477 sq. m), with an impressive
20 metre frontage onto the main shopping mall. The loading bay is accessed
directly from the service yard with a lift serving the floors above. There may
be potential for this extensive unit to be split into multiple sub - units,
subject of course to any required permissions. The unit was, until 2021, let
to H&M with turnover based rental of £265, 000 per annum, but is now operating
under a Licence to Occupy by a Warehouse Clearance Outlet. A new tenancy could
be negotiated with the existing tenant, or sold with vacant possession. Recent
comparables for other occupiers in the centre would suggest a potential rental
in the region of £200, 000 per annum could be achievable, which would represent
an outstanding rental yield of more than 16% at Guide Price. The 2023 rateable
value is £200, 000 and there is also an annual service charge of £15, 000
payable to the Centre Management. Figures provided by the Centre Management
suggest pre - pandemic footfall of 9 million and an average spend per visit of
£52, making Unit 42 an exceptional prospect for a national brand to return to
the Thistles as an owner/occupier, or could equally be a fantastic opportunity
for a commercial investor to add a high yielding unit in prime location to
their existing portfolio.
The Thistles Shopping Centre enjoys prime location in the centre of the ever
popular city of Stirling. The Centre was originally constructed in 1976 and
offers a total trading area of more than 500, 000 sq. Ft, and is served by
1, 350 car parking spaces. Other national brands in the Centre include Boots,
Marks and Spencer and Primark, along with a multitude of other well known
brands. Footfall in the centre exceeds 9 million, and Unit 42 is in ideal
position to take advantage of this huge potential audience. Stirling train
station is in the immediate vicinity offering several direct line trains per
hour to both Glasgow and Edinburgh, with 3 million rail visitors to the city
per annum. By road, Stirling is ideally located only 27 miles from Glasgow, 39
miles from Edinburgh and 44 miles to Dundee.
**Purchasers notes**
Please note that these particulars have been prepared by us on the basis of
information provided by our client. If there is any aspect of these
particulars that you wish clarified or that you find misleading please contact
the office where further information will be made available.
• No tests have been made of services, equipment or fittings.
• No warranty is given or implied as to the condition of buildings, services,
fixtures, fittings etc.
• All measurements, distances and acres are approximate.
• Fixtures, fittings and other items are not included unless specified in
these details.
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