Tenanted Commercial Property LOT 122

67-69 King Street FORMER BURTONS, Kilmarnock, KA1 1PT
OPENING BID

Timed Online Auction

27 January 2022, 10am-3pm

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

Description

Full Address: 67-69 King Street FORMER BURTONS, Kilmarnock, KA1 1PT

Highly prominent TOWN CENTRE retail unit. Currently LET at 20,000 PER ANNUM on 5 Year Lease until 2026. Perfect Investment Opportunity. PREVIOUSLY SOLD FOR 1.1 MILLION***

SUPER SIZE AND LOCATION. Comprises a two storey, retail unit over the ground and first floors. EXTREMELY HIGH FOOTFALL LOCATION. SUBSTANTIAL SIZED property approx. 4,289 Sq. Ft.

Excellent sized commercial property over ground and first floor - unit extends to approx. 4,289 Sq. Ft. EXCELLENT TRADING LOCATION.

Prime position on the pedestrianised section of King Street, which is the main retailing thoroughfare for the town. Nearby occupiers include M&S, WH Smith, Boots the Chemists and BHS.

Excellent SPOT in Town Centre. 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.

Highly prominent TOWN CENTRE retail unit. Currently LET at 20,000 PER ANNUM on 5 Year Lease until 2026. Perfect Investment Opportunity. PREVIOUSLY SOLD FOR 1.1 MILLION*** Perfect Investment Opportunity. SUBSTANTIAL SIZED Ground Floor - 2,200 Sq. Ft (204.35 Sqm) First Floor - 2,089 Sq. Ft (194.08 Sqm) Total - 4,289 Sq. Ft (398.43 Sqm) Excellent sized commercial property over ground and first floor. Internally the property comprises sales area on the ground floor and first floor has been fitted out as a sales area together with fitting rooms, office, staff room, toilet facilities and stock room. Prime position on the pedestrianised section of King Street, which is the main retailing thoroughfare for the town. Nearby occupiers include M&S, WH Smith, Boots the Chemists and BHS. Excellent SPOT in Town Centre. 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.

Kilmarnock offers a great mix of shopping, with some of the largest national retailers located alongside a selection of over 60 independent retailers. 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: 5 year lease until 2026
Rent: 20,000 per year / 1,667 per month
Yield: 12% (approx)
Tenant: Private Individual
Notes: Currently LET at 20,000 PER ANNUM on 5 Year Lease until 2026.

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Location

Pricing Information & Bidding

Opening Bid: £145,000

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: 27 January 2022, 10am-3pm
Type: Timed Online Auction

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