Portfolio of Garages, Millar Place, Stirling, FK8 1UX

  • Unconditional Online Auction Sale
  • Guide Price* : £39,000

SALE BY ONLINE AUCTION - THURSDAY 28TH JANUARY 2021. Rare opportunity to purchase a portfolio of lock up garages within popular residential district in Stirling. Numerous development opportunities (STC). Total land approximately 0.1 acres.

Description

SALE BY ONLINE AUCTION - THURSDAY 28TH JANUARY 2021. Rare opportunity to purchase a portfolio of lock up garages within popular residential district in Stirling. Numerous development opportunities (STC). Total land approximately 0.1 acres.
PORTFOLIO OF GARAGES, MILLER PLACE, STIRLING, FK8 1UX
• Investment / Development Opportunity to buy a portfolio of dilapidated garages in a 100% Prime Residential Location within Stirling***Possible Potential development site in Highly Desirable district*** Seldom brought to the market** ***
• Located within a High density residential district these garages offer a rare & potentially high yielding opportunity. Ideal for refurbishment and thereafter letting as garages or small workshops***Possible Potential Residential development opportunity (subject to planning & consents)***
• ***This is a once in a lifetime Opportunity*** 3 Miller Place Sold £210k (Sept 2020)***5 Miller Place Sold £144,500***28 James St Sold £170k (Nov 2020)***18 Forth St Sold £145k (Nov 2020)**1 Rosebery Place Sold £270k (July 18)*** HIGH VALUE RESIDENTIAL DISTRICT
• Unique opportunity to purchase a small site circa 0.1 acre in popular location containing a number of dilapidated garages*** Surrounded by residential properties this property offers a plethora of potential uses.
• Easily Accessible location down lane off Miller Place** Excellent Storage or Investment potential *Fabulous Opportunity: For Local Investor / Developer*
A rare opportunity to purchase a portfolio of lock up garages within popular residential district in Stirling*** If the garages were refurbished, there could be in excess of 13 new lock up garages on site with an estimated value of £195,000 (£15,000 per garage) This is all subject to consents and estimated values***Excellent possible development potential***Once in a lifetime opportunity** ***High Density Location ***100% PRIME AND RARE PROPERTY*** The expected rental value of a new garage unit in this location is £40 per week equating to an annual combined income of £27,040***If 13 new garages were constructed at a cost of £5k per garage*** 26% Rental Return at Guide Price***Stirling is a city in central Scotland with a wider council population of circa 91,000 it is reputed to be the third fastest growing area of Scotland in terms of population. The city is a centre for local government, higher education, tourism, retail, and industry. The property for sale is located on the eastern side of Millar Place in the riverside area of Stirling.

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* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Sold for £44,000

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3D Walkthrough - Garages at Millar Place, Stirling

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