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Lot 29a

Guide Price: £282,500 - Bid Now

63-71 Dalrymple Street, Girvan, KA26 9BS


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Key Features:

PRIME GIRVAN TOWN CENTRE INVESTMENT LET TO GREGGS + SAVERS - £27,000 per annum income with Upper Floors Vacant (Had Planning for 6 flats own access) could be sold off separately - GREGGS have recently refitted the unit in modern corporate style and SAVERS trade very well and have upgraded also demonstrating commitment to stay. ***BENEFIT OF WHOLE BUILDING BEING SOLD***


  • Unit 2 - Savers rent has come down from £25,000 to £15,000 p.a for Tenant has refitted and extended lease showing commitment). Tenant Been in occupation for over 15 YEARS already. Let to Savers Health & Beauty Ltd (GRADE A TENANT) total current assets £132.9 MILLION - full repairing and insuring lease expiring 7 August 2020 at a passing rent of £15,000 pa (£10.06 per sq ft ITZA). Tenant trades well keen to stay.
  • Unit 1 - The unit is let to Greggs Plc, (GRADE A TENANT) Net Worth: £290.2 MILLION. Assets: £106.6 MILLION. on a 15 year full repairing and insuring lease from 9 November 2012 expiring 8 November 2027 at a passing rent of £12,000 per annum Break option year 10. Rent reviews are on a 5 yearly cycle. Note Greggs have recently refitted the unit in modern corporate fit.
  • Excellent trading position. The premises occupy a 100% prime position on the east side of Dalrymple Street, Girvan’s main retailing pitch. Dalrymple Street also carries the majority of south bound traffic through the town and is therefore a very busy thoroughfare. Nearby occupiers include Co-operative Food, TSB, Ladbrokes, Costcutter, Thomas Cook, Boots and M&Co together with a number of local retailers.
  • ***IDEAL INVESTMENT PURCHASE*** Guaranteed income £27,000 p.a with potential for 6 flats on upper floors (had planning previously so precedent has been set). Upper floor could be sold off separately or re-developed. Re-based low rents with GRADE A National tenants in situe will appeal to long term investors.


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.
Rateable Value

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Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 15 YEARS
Rent £27,000 per year / £2,250 per month
Yield 9.6% (at guide price)
Tenant Private Individual
Notes: The unit is let to Greggs Plc, (GRADE A TENANT) Net Worth: £290.2 MILLION.

Further Details:

PRIME GIRVAN TOWN CENTRE INVESTMENT LET TO GREGGS + SAVERS - £27,000 per annum income with Upper Floors Vacant (Had Planning for 6 flats own access) could be sold off separately - GREGGS have recently refitted the unit in modern corporate style and SAVERS trade very well and have upgraded also demonstrating commitment to stay. ***BENEFIT OF WHOLE BUILDING BEING SOLD***Unit 2 - Savers rent has come down from £25,000 to £15,000 p.a for Tenant has refitted and extended lease showing commitment). Tenant Been in occupation for over 15 YEARS already. Let to Savers Health & Beauty Ltd (GRADE A TENANT) total current assets £132.9 MILLION - full repairing and insuring lease expiring 7 August 2020 at a passing rent of £15,000 pa (£10.06 per sq ft ITZA). Tenant trades well keen to stay. Unit 1 - The unit is let to Greggs Plc, (GRADE A TENANT) • Net Worth: £290.2 MILLION • Assets: £106.6 MILLION on a 15 year full repairing and insuring lease from 9 November 2012 expiring 8 November 2027 at a passing rent of £12,000 per annum (£12.46 per sq ft ITZA). Break option year 10. Rent reviews are on a 5 yearly cycle. Note Greggs have recently refitted the unit in modern corporate fit -out showing commitment to the site. ***IDEAL INVESTMENT PURCHASE*** Guaranteed income £27,000 p.a with potential for 6 flats on upper floors (had planning previously so precedent has been set). Upper floor could be sold off separately or re-developed. Re-based low rents with GRADE A National tenants in situe will appeal to long term investors.

Guide Price: £282,500 - Bid Now


What is a Guide Price...

Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each 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 no more than 10% above or below the advertised guide price.

Bid Now Explained...

You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Map & Location:


Excellent trading position. The premises occupy a 100% prime position on the east side of Dalrymple Street, Girvan’s main retailing pitch. Dalrymple Street also carries the majority of south bound traffic through the town and is therefore a very busy thoroughfare. Nearby occupiers include Co-operative Food, TSB, Ladbrokes, Costcutter, Thomas Cook, Boots and M&Co together with a number of local retailers.

Viewings:


Internal Open Viewings...


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime...


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.

Auction Details:



  • Auction Date...

    22 October 2018


  • Start Time...

    7.00pm


  • Auction Location...

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions...

Glasgow Radisson | Edinburgh Marriott


Registration...

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs...

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits...

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method...

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.

How To Bid:


Offer Now...

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person...

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live...

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...
Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy... (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form