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Special Terms of Sale
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Buyers Fee
(?) 2% of Sale Price (Minimum of £2500 +vat)
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Description
- Status: Available
- Type: Commercial
- Ownership: Freehold
- Occupation: Tenanted
***INCOME PRODUCING COMMERCIAL INVESTMENT*** Mid-terraced unit within a larger 2 storey commercial development. 143.34sqm (1,542sq ft) over ground and 1st floor FRI lease producing £25,000 pa
The property is held on a FRI lease on the following terms;
Tenant: Cash Generator
Passing Rent £25,000pa
Term: 26th Oct 2019 - 30th October 202
Rent Review 1st Nov 2024 (outstanding)
Internally the property is presented in the tenants corporate specifications with commercial carpet tile throughout, suspended acoustic tile ceiling with recessed L.E.D and fluorescent panels.
Access to the upper floor is via a single staircase to the rear of the demise with partitions erected to form staff room, stores and w.c with rear access to a common loading area at ground floor.
The property extends to the following new internal floor area;
Ground: 100.75sqm (1,084sq ft)
1st: 42.59sqm (458sq ft)
Total: 143.34sqm (1,542sq ft)
***INCOME PRODUCING COMMERCIAL INVESTMENT*** Mid-terraced unit within a larger 2 storey commercial development. 143.34sqm (1,542sq ft) over ground and 1st floor FRI lease producing £25,000 pa
The property is held on a FRI lease on the following terms;
Tenant: Cash Generator
Passing Rent £25,000pa
Term: 26th Oct 2019 - 30th October 202
Rent Review 1st Nov 2024 (outstanding)
Internally the property is presented in the tenants corporate specifications with commercial carpet tile throughout, suspended acoustic tile ceiling with recessed L.E.D and fluorescent panels.
Access to the upper floor is via a single staircase to the rear of the demise with partitions erected to form staff room, stores and w.c with rear access to a common loading area at ground floor.
The property extends to the following new internal floor area;
Ground: 100.75sqm (1,084sq ft)
1st: 42.59sqm (458sq ft)
Total: 143.34sqm (1,542sq ft)
The property is located on the east side of King Street adjacent to its junction with Sandbed Lane, within the pedestrianised precinct in Kilmarnock’s town centre.
Neighbouring occupiers include Boots Pharmacy, Bank of Scotland and WH Smith.
Kilmarnock is the main retail centre for East Ayrshire with a resident population of c. 44,000 persons with a wider catchment in excess of 150,000 persons. Kilmarnock is approx 22 miles from Glasgow and is well serviced by transport links via the M77, rail connections and Glasgow and Prestwick airports within 30 mins drive.
Full Address: 52 King Street, Cash Generator Investment, Kilmarnock, KA1 1NP
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Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)
Length: 4 Years
Rent: £25,000 per year / £2,083 per month
Yield: 13% (approx)
Tenant: Company
Notes: Tenant: Meecsa UK Ltd trading as Cash Generator
Passing Rent £25,000pa
Term: 26th Oct 2019 - 30th October 2029
Rent Review 1st Nov 2024 (outstanding)
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Pricing Information & Bidding
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 = 2% of Sale Price (Minimum £2,500 + vat)
- 4 Weeks Completion or Longer By Agreement
- Contribution to Sellers Costs £2,750 for on time settlement
VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.
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PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.
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Auction Details
Date & Time: 06 March 2025, 10am-3pm
Type: Timed Online Auction
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