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Description

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

INCOME PRODUCING INVESTMENT *** Substantial WAREHOUSE & SHOWROOM with Dedicated Car Park & Loading Yard. SUPERSIZED 1,626sqm (17,500sq ft) Held on a FRI Lease producing £60,000 per annum

Triple industrial warehouse partitioned to form main retaining and showroom area with office, tea prep and w.c facilities with the remainder of the warehouse space providing stores & distribution area

The site benefits from an enclosed car park and van store with yard area with full height vehicle access to the property for undercover loading and unloading.

Tenant: Cunninghame Furniture Recycling Company Ltd Tied With Local Housing Assc. Held On F.R.I Lease Expiry: 2033 Passing Rent: £60,000p.a

The property extends to the following gross internal area; 1,626sqm (17,500sq ft)

INCOME PRODUCING INVESTMENT *** Substantial WAREHOUSE & SHOWROOM with Dedicated Car Park & Loading Yard. SUPERSIZED 1,626sqm (17,500sq ft) Held on a FRI Lease producing £60,000 per annum Triple industrial warehouse partitioned to form main retaining and showroom area with office, tea prep and w.c facilities with the remainder of the warehouse space providing stores & distribution area. The site benefits from an enclosed car park and van store with yard area with full height vehicle access to the property for undercover loading and unloading. Tenant: Cunninghame Furniture Recycling Company Ltd Tied With Local Housing Assc. Held On F.R.I Lease Expiry: 2033 Passing Rent: £60,000p.a The property extends to the following gross internal area; 1,626sqm (17,500sq ft)

Irvine is the principal town in North Ayrshire located approximately 30 miles south- west of Glasgow and 7 miles west of Kilmarnock. It has a population in the order of 33,698 people (2011 Census) and makes up over 25% of the wider North Ayrshire population totalling some 134,146 people. The area has a strong manufacturing and engineering tradition benefiting from its location on the west coast of Scotland and excellent road and rail communications, being close to the A78, A736, A737 and A71 trunk road with direct access to the M77 motorway to Glasgow. Glasgow Airport is located approximately 25 miles to the north-east of the town and Glasgow Prestwick International Airport is situated only 9 miles to the south. Irvine is the principal town in North Ayrshire located approximately 30 miles south- west of Glasgow and 7 miles west of Kilmarnock. It has a population in the order of 33,698 people (2011 Census) and makes up over 25% of the wider North Ayrshire population totalling some 134,146 people. The area has a strong manufacturing and engineering tradition benefiting from its location on the west coast of Scotland and excellent road and rail communications, being close to the A78, A736, A737 and A71 trunk road with direct access to the M77 motorway to Glasgow. Glasgow Airport is located approximately 25 miles to the north-east of the town and Glasgow Prestwick International Airport is situated only 9 miles to the south.

Full Address: 68 Third Avenue, Units 1-5, Irvine, KA12 8LT

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 8 Years
Rent: £60,000 per year / £5,000 per month
Yield: 11% (approx)
Tenant: Company
Notes: Tenant: Ltd Company Tied With Local Housing Assc. Held On F.R.I Lease Expiry: 2033 Passing Rent: £60,000p.a

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Pricing Information & Bidding

Opening Bid: £549,000

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SPECIAL Terms of Sale

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  • 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: 03 April 2025, 10am-3pm
Type: Timed Online Auction

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