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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

TENENATED INCOME PRODUCING INVESTEMENT*** 2 commercial properties in SUPER TRADING POSITION ***PRIME INVESTMENT PROPERTY Passing Rent: £29,000p.a Fixed Increase to £32,000p.a in July 2027

34 Bridgetate extends to 2,845sq ft over 2 floors. 38-40 Bridgegate extends to 3,458sq ft over 2 floors. GREAT LOCATION within busy town centre with HIGH LEVELS OF PASSING TRADE.

34 Bridgegate is held on an F.R.I lease to Coincandy Ltd expiring 15th April 2029 at a passing rent of £17,000p.a.x.

38-40 Bridgegate F.R.I lease expiring 31st June 2034 with a tenant only break option in 2026. Current rent £12,000p.a.x until 1st July 2027 with a fixed increase to 15,000p.a.x. Rent review 2029

Facing SANTANDER directly adjacent to the entrance to the Rivergate Shopping Centre. PRIME TRADING POSITION busy pedestrianised town centre neighbouring Subway, Betfred, Semi-Chem, Nationwide.

TENENATED INCOME PRODUCING INVESTEMENT*** 2 commercial properties in SUPER TRADING POSITION ***PRIME INVESTMENT PROPERTY Passing Rent: £29,000p.a Fixed Increase to £32,000p.a in July 2027 34 Bridgetate extends to 2,845sq ft over 2 floors. 38-40 Bridgegate extends to 3,458sq ft over 2 floors. GREAT LOCATION within busy town centre with HIGH LEVELS OF PASSING TRADE. 34 Bridgegate is held on an F.R.I lease to Coincandy Ltd expiring 15th April 2029 at a passing rent of £17,000p.a.x. 38-40 Bridgegate F.R.I lease expiring 31st June 2034 with a tenant only break option in 2026. Current rent £12,000p.a.x until 1st July 2027 with a fixed increase to 15,000p.a.x. Rent review 2029 Facing SANTANDER directly adjacent to the entrance to the Rivergate Shopping Centre. PRIME TRADING POSITION busy pedestrianised town centre neighbouring Subway, Betfred, Semi-Chem, Nationwide.

The property is situated on the North side of Bridgegate, within the pedestrianised town centre and a highly visible and busy position within the Ayrshire town of Irvine. Irvine lies 30 miles south west of Glasgow, 15 miles north of Ayr and is the principle town in North Ayrshire with a population of over 34,000 persons and a catchment of over 135,000 persons. The town lies at the convergence of the A78, A737, A767, and A71 road routes providing road access to Greenock, Ayr, Kilmarnock and Glasgow. Prestwick Airport is located 7 miles south of the town. Neighbouring occupiers include Savers, The Rivergate Shopping Centre, Ramsdens Pawnbrokers, Nationwide Building Society and Irvine Town Hall.

Full Address: 34 and 38-40  Bridgegate, Irvine, Ayrshire, KA12 8BJ

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 10 Years
Rent: £29,000 per year / £2,417 per month
Yield: 21% (approx)
Tenant: Private Individual
Notes: Expiry: April 2029 & June 2034 Current Passing Rent: £29,000p.a.x Fixed Increase to £32,000p.a.x in July 2027

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Pricing Information & Bidding

Opening Bid: £141,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

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Auction Details

Date & Time: 05 December 2024, 10am-3pm
Type: Timed Online Auction

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