The former British Home Stores (BHS) outlet in Stirling, which has been closed for eight years, is set to go to auction this week. The three-storey premises, located at 8-14 Murray Place with an entrance in Stirling’s Thistles Centre, shut its doors in 2016. Tomorrow, online bids will be accepted for the property, with a guide price of £175,000.
Graham & Sibbald, the agents for the property, highlighted that the vacant retail building could attract interest from the leisure sector, such as gyms and food halls, or potentially from hoteliers. The prime location of the building, in Stirling’s town centre and main regeneration area near Stirling Station, presents redevelopment opportunities for mixed-use or hotel projects, subject to planning permission.
Auctioneers BidX described the property as formerly operated by BHS, featuring open-plan sales areas on the ground floor with additional sales areas, a restaurant, and storage on upper levels. Notably, there is a possibility for an occupier to negotiate direct access from the unit to The Thistles Shopping Centre.
The closure of the BHS store in Stirling in 2016 was part of the closure of 20 BHS branches across the UK due to low stock levels. This marked a significant event in the downfall of the chain, which was sold for £1 by Sir Philip Green in 2015 before going into administration with substantial debts.
The premises, which previously housed other department stores like Frasers and McLachlan and Browns, offer a significant investment opportunity in Stirling’s commercial landscape. The auction of this iconic retail building opens up possibilities for revitalising the space and contributing to the town’s economic development.
In summary, the former BHS store in Stirling is going to auction after being closed for eight years, presenting an exciting opportunity for prospective buyers in the leisure or hospitality sectors. The potential redevelopment of the property could bring new life to this prominent location in Stirling’s town centre.