"stirling" Opportunity For Northern Irish Investor!
11 June 2009Osborne King has acquired an investment property housing a brand-new M&S Simply Food store in Dunblane, Scotland on behalf of a local investor for circa £5.75 million. Marks & Spencer have taken the 16,000 sq ft new build on a 20-year basis, and following a major fit-out, opened the new store for business last month.
Pic: M&S Simply Food store in Dunblane, Scotland
Andrew Coggins from Osborne King's Investment team who identified the property as an attractive investment proposition for his client commented: "There's no question that times are extremely tough however, deals such as the Dunblane acquisition show that there are still opportunities for local investors to purchase profitable investment properties offering long-term secure income across the UK. The re-alignment of property prices over the past year is also providing enhanced opportunities for investors, particularly those who are less highly geared and who can take advantage of more realistic prices than in previous years. Granted funding is more difficult to obtain, however, it is available albeit on a lower loan to value basis plus the cost of borrowing is at its lowest ever. Essentially, the market is not dead and property will remain an integral economic component. There will continue to be investment opportunities that offer value and profit in the medium to long term."
The M&S store is the first Simply Food store to open in Dunblane, which is located six miles north of Stirling. It is anticipated that up to 50 new jobs have been created on a full and part-time basis. The Simply Food store will offer quality food products and a variety of other goods including a limited range of clothing.