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Special Terms of Sale

  • Buyers Fee (?) 2% of Sale Price (Minimum of £2500 +vat)

Please use our PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.

Description

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

***INCOME PRODUCING COMMERCIAL INVESTMENT***2 tenanted ground floor units within a 4 storey premises. FRI lease producing Total £29,250 per annum. Town Centre Location with 3 dedicated parking spaces.

66-68 Bank Street Tenant: Sequence U.K Ltd t/a Allen & Harris Expiry: 9th July 2029 (extended) Tenant Break: July 2027 Passing Rent: £19,000p.a.x Covenant Info: Allen & Harris is owned by Sequence UK

23 Nelson Street Tenant: 2 Personal Names Expiry: 3rd June 2028 (extended) Tenant Break: June 2026 Passing Rent: £10,250p.a.x

The properties have been calculated to extend to the following net internal areas; 66-68 Bank Street 116.85sqm (1,258sq ft) 23 Nelson Street 62.4sqm (672sq ft)

PROMINENT POSITION The property is situated on the south east corner of Bank Street and Nelson Street within Kilmarnock town centre.

The property forms the ground floor of a larger modern 2 storey mixed use development surmounted by a pitched roof. The ground floor is split into 2 units with 66-68 Bank St offering a return frontage onto Nelson Street within aluminium framed and glazed entrance doors and display windows. 66-68 Bank Street is presented as an estate agency office with open plan work space to the front, with 3 partitioned offices, tea prep and w.c facilities to the rear. The property is decorated to a good standard with suspended acoustic tile ceiling and carpeted flooring throughout. 2 parking spaces to the rear are allocated for Allen & Harris. 23 Nelson Street is a retail shop with open plan sales area to the front and partitioned w.c to the rear of the demise. The property has been decorated to a good standard by the tenant with laminated timber flooring and walls being painted and decorated. 1 parking space to the rear is allocated for this unit.

The property is situated on the south east corner of Bank Street and Nelson Street within Kilmarnock town centre in a key area in the town centre, known for its mix of historic buildings, local businesses, and easy access to essential amenities. As part of Kilmarnock’s core shopping and commercial district, the streets play an important role in the town’s daily life. The town is well-connected town with road and rail links to Glasgow, Ayr, and beyond. The A77 and M77 provide quick access to Glasgow (about 30 minutes by car). Kilmarnock Railway Station offers regular services to Glasgow, Ayr, and Dumfries. A strong local bus network connects Kilmarnock to nearby towns and villages.

Full Address: 64-66 Bank St and 24 Nelson St, Allen and Harris, Kilmarnock, KA1 1EA

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 4 Years
Rent: £25,250 per year / £2,104 per month
Yield: 11% (approx)
Tenant: Company
Notes: 66-68 Bank Street Tenant: Sequence U.K Ltd t/a Allen & Harris Expiry: 9th July 2029 (extended) Tenant Break: July 2027 Passing Rent: £19,000p.a.x 23 Nelson Street Tenant: 2 Personal Names Expiry: 3rd June 2028 (extended) Tenant Break: June 2026 Passing Rent: £10,250p.a.x

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Pricing Information & Bidding

Opening Bid: £223,000

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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Offer Now... 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.

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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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Please use our 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: 27 February 2025, 10am-3pm
Type: Timed Online Auction

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