FOR SALEPRIME RETAIL INVESTMENT

44 TULLIBODY ROAD // ALLOA // FK10 2LX

// Strong trading Convenience Store Investment

// Let to Co-operative Group Food Ltd until August 2021

// Low passing rent of £36,500 pa (£11.71 psf)

// Rent Review August 2016

// Offers over £415,000

// Attractive Net Initial Yield of 8.39%

LOCATIONAlloa is the county town of Clackmannanshire in the central lowlands of Scotland, and lies roughly equidistant between Edinburgh and Glasgow. Stirling is circa 7 miles to the West. It has a resident population of approximately 19,000 people.

PRESTWICKAIRPORT

SOUTH & CARLISLE

NORTH & INVERNESS

ABERDEENALLOA

44 TULLIBODY ROAD // ALLOA // FK10 2LX

TULLIBO

DY ROAD

PARK

HEA

D R

OA

D

CLAREMONT

HILL STREET

A907 STIRLING ROADVI

CTO

RIA

STRE

ET

ASHLEY TERRACE

A908 WHIN

S ROAD

A907

ALLOA

GARVALLY CR.

SITUATIONThe Property is located on the Tullibody Road, about half a mile to the northwest of Alloa Town Centre. The store benefits from its prominent corner location in a densely populated residential part of the town.

DESCRIPTIONThe premises comprise a single storey building arranged over two units, under a pitched, tiled roof. The larger unit is occupied by The Co-op, trading as a convenience store. Although the smaller unit has historically been sublet, we have been advised that it is the Co-op’s intention to extend into this, thus increasing the size of their existing store. There is a dedicated car park to the front of the property with space for approximately 10 cars.

Unit 1 (Co-op) 222.5 sq m 2,395 sq ft

Unit 2 67.0 sq m 721 sq ft

Total 289.5 sq m 3,116 sq ft

ACCOMMODATIONThe Property has been measured and the following net internal areas have been calculated:

44 TULLIBODY ROAD // ALLOA // FK10 2LX

TENUREHeritable (Scottish equivalent to English Freehold).

TENANCYThe entire property is let on an over-riding lease to Co-operative Group Food Ltd (26715R) for a term expiring 5th August 2021 (circa 7.25 years unexpired). The passing rental is £36,500 pa (£11.71 psf), subject to further review with effect from 6th August 2016 on an upward only basis to Open Market Rent. The terms are otherwise drafted on standard, institutionally acceptable Full Repairing and Insuring terms. The tenant has a right to renew the lease at expiry. A copy of the lease documentation is available on request.

GA

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TULLIBODY ROAD

COVENANTCo-operative Group Food Ltd is a wholly owned subsidiary of the Co-operative Group, the UK’s largest Mutual organisation, formed in 1844. It is the leading Convenience retailer in the country with over 2,800 stores and circa 74,000 employees. The turnover in the year to 2012 was circa £7.4 bn, generating underlying profits of £288 m.

PROPOSALWe are instructed to seek offers in excess of £415,000, which reflects an attractive net initial yield of 8.39%, after allowing for purchaser’s costs of 4.8%.

EPCFull EPC reports are available on request, but the two individual units have the following ratings:

Unit 1 (Co-op) EPC Rating F

Unit 2 EPC Rating E+

VATThe property is registered for VAT, and this will therefore be payable on the purchase price, although we would anticipate that this would be dealt with by way of a Transfer of a Going Concern (T.O.G.C).

VIEWING & FURTHER INFORMATIONPlease contact the sole selling agents, Hood Harrison LLP, for further information or to arrange a viewing.

MIKE HARRISON

0131 225 5110

07776 251 081

mike@hoodharrison.co.uk

HOODCOMMERCIAL PROPERTY CONSULT ANTS

HARRISON

HOODCOMMERCIAL PROPERTY CONSULTANTS

HARRISON

MISREPRESENTATION NOTICE – HOOD HARRISON give notice that: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in text, plans or photographs) is given in good faith and should not be relied upon as being a statement of representation or fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure show only certain parts of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore, no assumptions should be made in respect of the property not shown in the photographs. 5. Any areas, measurements and distances referred to herein are approximate only. 6. Where there is reference in the particulars to the fact that alterations are carried out or that a particular use is made of any part of the property, this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters have to be clarified by an intended purchaser. 7. Descriptions of the property are inevitably subjective and the descriptions contained herein are given in good faith as an opinion and not by way of statement of fact. Date of publication April 2014.

44 TULLIBODY ROAD // ALLOA // FK10 2LX