Falkirk is located in the central belt of Scotland,
26 miles north-west of Edinburgh and 25
miles north-east of Glasgow. The town is
well positioned, benefitting from excellent
transport links to Edinburgh, Glasgow and the
rest of Scotland. The town has a population
of approximately 35,398 people with a wider
Falkirk Council population of 155,990.
Falkirk's location within Scotland's Central Belt results in the town benefitting from an extensive catchment area. The town is well served by the motorway network, with immediate access to several junctions of the M9 and M876 motorways leading to Stirling, Edinburgh, Glasgow and surrounding towns.
Falkirk benefits from two railway stations, Falkirk Grahamston and Falkirk High. The two stations provide links to the local area as well as Edinburgh, Glasgow and Stirling. Falkirk Grahamston station is located one mile south of the property. The property is also accessible by bus with the number 6 and 7 First Bus services running along Carron Road, with bus stops approximately 50 metres from the property.
There are two major international airports within an hour of Falkirk. Edinburgh Airport, located around 20 miles to the east and providing flights to over 150 destinations, while Glasgow Airport is 33 miles to the west.
The property comprises a steel frame retail warehouse store of brick and blockwork cladding with profile metal sheeting above. The building has been extended during Matalan's occupation. The property provides primarily retailing space at ground floor with separate entrance and exit points both on the south elevation leading directly to the car park. Two mezzanine levels are positioned at either end of the building provide storage and office accommodation. There is a single goods lift linking the main mezzanine store area to the ground floor retailing with a capacity of 800 kg, and deliveries are made to the rear of the unit.
Heritable interest (Scottish equivalent of English freehold).
The property is let on full repairing and insuring terms to Matalan Retail Ltd on a 25 year lease until 13 October 2024. The passing rent is £422,000 per annum reflecting a rental rate of £12.03 per sq ft on the ground floor area. There is an open market upward only rent review on 14 October 2019. For the purposes of the rent review the mezzanine areas are to be disregarded as a tenant's improvement.
Matalan is a British based fashion and homeware retailer established in 1985.
The brand has a focus on providing quality but good value products, and there
are now 227 stores across the UK.
Matalan Retail Ltd has a Dun & Bradstreet rating of 5A1 reflecting a minimum risk of business failure.
For the financial year to 24 February 2018, the company had a tangible net worth of £252,600,000.
Further information can be found in the link below.
The property has been elected for VAT purposes and it is anticipated that the investment will be treated as TOGC.
We are instructed to seek offers in excess of £4,420,000 (Four Million, Four Hundred and Twenty Thousand Pounds), reflecting a Net Initial Yield of 9.00% assuming purchaser's costs based on LBTT.