Property overview

BP/M&S Petrol Filling Station, Falkirk Road, Linlithgow, EH49 7PH

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Nov 2015

Franck Steier Price has recently completed the off market acquisition of a modern BP/M&S on behalf of Axa Real Estate.

The property is located in Linlithgow town centre opposite Stockbridge Retail Park and adjacent to a Sainsburys supermarket.  The property is currently being full redeveloped following completion of the lease and on completion will comprise a new BP petrol filling station with M&S convenience store.

The property is let to BP Oil UK Ltd for a term of 25 years from November 2015.  The lease is held on FRI terms with annual increases to 2%.  The tenant has an option to break the lease in the 20th year.  The commencing rent is £120,000 per annum.

The investment was purchased for £2,175,000 which reflected a net initial yield of 5.00%, after purchaser’s costs of 5.80%.

The property was sold by MFG, represented by Barber Wadlow.