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Agent's details

FULL BUILDING FOR SALE / INDIVIDUAL FLOORS TO LET - KING STREET KILMARNOCK

For sale: POA|To rent: ROA|Retail, Office, Flat, Retail - High Street, Healthcare, Showroom, Offices, Residential, Other Property Types & Opportunities

Property details

FOR SALEPOA
TO RENTROA
ADDRESS85-89 King Street, Kilmarnock, KA1 1QD
TYPERetail, Office, Flat, Retail - High Street, Healthcare, Showroom, Offices, Residential, Other Property Types & Opportunities
TENUREDevelopment Opportunity, Investment Opportunity, To Let, For Sale Freehold
POSTED ON28th July 2021

Description

Town Centre Commercial Investment
Opportunity to Increase Value
Full Building
Income Producing
5,412sq ft
Income Producing £10,000p.a. (Under Rented)
Open Market E.R.V. £40,000p.a.
Previously Sold: £1.3m
Sale: £220,000

Location

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.

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.

Neighbouring occupiers include Marks and Spencer, Santander, Superdrug, Thomas Cook and Optical Express.

Property

The 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.

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 second floor is currently vacant and fitted out as an office space with private w.c. facilities.

Area

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)

Investment Summary

The property is held on the following lease terms;

1st Floor

Tenant: Beauty Studio 85 Limited
Expiry: 16th August 2025
Rent: £10,000p.a.

NAV/RV

The property has been assessed individually and entered onto the valuation roll with the following NAV/RV’s

Ground: £24,500
1st: £8,800
2nd: £12,100

Lease

Our client is offering the ground and 2nd floor on new full repairing and insuring head lease for negotiable terms. Quoting rent for the ground floor is £18,000per annum and 2nd floor £12,000per annum

Sale

Our client will dispose of their freehold interest in the subject for £220,000

V.A.T

Prices quoted are exclusive of V.A.T

Viewing

Available on request

E.P.C

Available on request

Viewing

By appointment only

Legal

Each party shall bear their own legal costs incurred in the transaction

Lease & Title

Available on request

Location

marker
Location: 85-89 King Street, Kilmarnock, KA1 1QD

Kilmarnock (0.3 miles)

Kilmaurs (2.8 miles)

Stewarton (5.2 miles)

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