Lot 16
Auction
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15-29 La Porte Precinct (inc. 2-6 Talbot Street), Grangemouth, Stirlingshire, FK3 8AZ

Auction
United Kingdom
Retail
Commercial

Withdrawn Prior

This property did not go for auction

Property Summary

  • Dominant retail parade comprising 10 retail units
  • Pedestrianised town centre location
  • Approximately 2,941.11 sq. m (31,658 sq ft) anchored by B&M. Other retailers include Greggs, Lloyds Pharmacy, Card Factory and Betfred.
  • No void liabilities
  • 100+ free car parking spaces across two car parks, thus providing asset management opportunites 
  • Total gross income of £307,100 per annum
  • Net operating income of c. £245,680 per annum

Contact Us

John Connolly
John Connolly
Property Agent, here to help.
Jas Aujla
Jas Aujla
Property Agent, here to help.
David Morris
Vendor's Solicitor

Contact Us

John Connolly
John Connolly
Property Agent, here to help.
Jas Aujla
Jas Aujla
Property Agent, here to help.
David Morris
Vendor's Solicitor

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Property description

A purpose built parade of ten retail units, which benefits from loading to the rear and two large free to use car parks, one adjacent to B&M. The build is of concrete frame construction with facing brick elevations and a flat roof with felt covering. 

The parade has a canopy running the frontage of the units and each property has a modern glazed aluminium shopfront. Internally, the units are regular in shape, benefit from modern fit-outs, with open plan sales areas at ground floor and storage/staff facilites at first floor, except units 2&3 which are ground floor only.

The auctioneers have not measured the property. All measurements have been provided by the vendor.

Location

Grangemouth is a town in East Stirlingshire and is part of the Falkirk council area of Scotland. The town lies in Forth Valley, on the banks of the Firth of Forth, 3 miles east of Falkirk, 13 miles south-east of Stirling and approximately 21 miles from both Glasgow and Edinburgh. The town is well located on the Central Belt of Scotland and is accessed from both Glasgow and Edinburgh via the M9.

The parade is situated within Grangemouth town centre which comprises the pedestrainised La Porte Precinct, York Arcade, Talbot Street and York Lane. The subject parade occupies a prominent corner position where La Porte Precinct joins Talbot Street.

Tenancy

A summary of the current tenancy position is below. For a full copy of the current tenancy schedule please refer to the legal pack.

  • Retail units arranged principally over ground and first floor
  • Approximately 2,941.11 sq. m (31,658 sq ft)
  • 1,554 sq m (16,733 sq ft) unit let to B&M
  • 289.57 sq m (3,117 sq ft) unit let to Lloyds Pharmacy
  • Other tenants include Card Factory, Greggs and Betfred
  • 83% of the gross income is secured against national covenants
  • Gross income of £307,100 per annum
  • Net operating income of c. £245,680 per annum

Planning

Falkirk Council (01324 506070) www.falkirk.gov.uk

Tenure

Held leasehold from Falkirk Council, expiring 16 December 2144, thus having 122.5 years unexpired.

The ground rent is variable and typically equates to 20% of the rents receivable from occupational tenants.

For full information please refer to the legal pack.

VAT

VAT is applicable to this sale, please refer to the legal documents for further details.

Energy Performance Indicator

Please refer to Legal Pack


*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £1,500 (inclusive of VAT)for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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