Timed Online Auction

21 October 2021, 10am-3pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 85-89 King Street, Full Building Investment, Kilmarnock Town Centre, KA1 1QD

PRIME TOWN CENTRE FULL BUILDING 5,412 Sq. Ft within busy Kilmarnock town centre. Ready Let Investment. ***Currently Partially Let at £16,000 Per Annum*** Unit extends to approx. 5,412 Sq. Ft (502.83 Sq. M). 2nd floor vacant with rental potential of £10k pa. Total building rental potential when fully let of £26,000 pa.

Property comprises substantial ground first and second floor commercial units. Ground and First floor currently Let at £16,000 P/A. SUPER frontage, onto King Street

Excellent SPOT in Town Centre. The property is located on the west side of King Street adjacent to the town centre main public car park, within the pedestrianised precinct in Kilmarnock’s town centre.

Nearby occupiers include Marks and Spencer, Santander, Superdrug, Thomas Cook and Optical Express. 100% PRIME UNIT in popular town centre location***

The East Ayrshire town of Kilmarnock is located approx. 22 miles south west of Glasgow, 13 miles north east of Ayr and 7 miles east of Irvine. The area is connected by the A71 and A77/M77 trunk roads.

PRIME TOWN CENTRE commercial unit within busy Kilmarnock town centre. Ready Let Investment. ***Currently Partially Let at £16,000 Per Annum*** Unit extends to approx. 5,412 Sq. Ft (502.83 Sq. M). 2nd floor vacant with rental potential of £10k pa. Total building rental potential when fully let of £26,000 pa. Unit extends to approx. 5,412 Sq. Ft (502.83 Sq. M). Property comprises a substantial ground first and second floor commercial development set within the main commercial district of Kilmarnock town centre, the property is of traditional construction surmounted by a pitched roof overlaid in ceramic tile, rendered at upper floors with UPVC double glazed windows. The ground floor benefits from secure aluminium roller shutter securing the substantial double frontage of aluminium formed and glazed construction with access via double doors. Ground Floor is currently Let to East Ayrshire Council until November 2021 at £6,000 P/A. First Floor is Let to Beauty Studio 85 Limited until August 2025 at £10,000 Per annum. The second floor is currently vacant and fitted out as an office space with private w.c. facilities. Internally the property is fitted out in accordance with the tenants requirements with partitions erected to form male and female w.c. facilities, staff tea prep and individual private office suites. Access to the upper floor is gained via single staircase from street level leading to the first and second floor. The first floor is occupied by a beauty salon, with the space being extensively refurbished to suit the tenants requirements, floors are overlaid in laminated timber, feature walls being papered whilst the remainder has been pointed. Partitions are erected to form private treatment room, tea prep and w.c. facilities. The property extends to the following floor areas; Ground: 183.21sqm (1,972sq ft) 1st: 126.31sqm (1,360sq ft) 2nd: 193.31sqm (2,080sq ft) Total: 502.83sqm (5,412sq ft)

Kilmarnock is the main retail centre for East Ayrshire with a resident population of c. 44,000persons with a wider catchment in excess of 150,000persons. 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 30mins drive.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 1-5 Years
Rent: £16,000 per year / £1,333 per month
Yield: 9% (approx)
Tenant: Company
Notes: Ground Floor is currently Let to East Ayrshire Council until November 2021 at £6,000 P/A. First Floor is Let to Beauty Studio 85 Limited until August 2025 at £10,000 Per annum.

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Location

Pricing Information & Bidding

Opening Bid: £160,000

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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 21 October 2021, 10am-3pm
Type: Timed Online Auction

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