Town Centre Location
Dental Practice Investment
Held On F.R.I Lease
Expiry April 2042
Passing Rent: £14,XXX.a.x
Reviews: Every 5 years
Price: £160,000
Location
The property is situated on the North side of Bridgegate, within the pedestrianised town centre and a highly visible and busy position within the Ayrshire town of Irvine.
Irvine lies 30 miles south west of Glasgow, 15 miles north of Ayr and is the principle town in North Ayrshire with a population of over 34,000 persons and a catchment of over 135,000 persons. The town lies at the convergence of the A78, A737, A767, and A71 road routes providing road access to Greenock, Ayr, Kilmarnock and Glasgow. Prestwick Airport is located 7 miles south of the town. Neighbouring occupiers include Savers, The Rivergate Shopping Centre, Ramsdens Pawnbrokers, Nationwide Building Society and Irvine Town Hall.
Property
The property comprises a mid terraced retail space of steel framed and portal construction surmounted by a mansard style roof.
The space offers a prominent dual display window frontage with centrally located double door entrance of aluminium framed and glazed construction.
Internally the property is presented in an open plan layout with recessed L.E.D lighting within the suspended acoustic tile ceiling. Partitions have been erected to the rear to form main counter, staff facilities and office space.
The first floor is accessed to the rear of the demise via a single staircase providing ancillary storage and workshop space.
Area
The property extends to the following internal area;
Ground: 110.55sqm (1,190sq ft)
1st: 67.26sqm (724sq ft)
Total: 177.81sqm (1,914sq ft)
Lease Summary
The property is held on full repairing and insuring head lease on the following terms;
Tenant: Irvine Healthcare Ltd t/a Irvine Dental Studio
Expiry: 7th April 2042
Tenant Break: 8th April 2027 in the event the break option is not exercised the rent will be reduced by 50% for 6 months
Passing Rent: £14,XXX.a.x.
Rent Review: Every 5 years (2027 / 2032 / 2037) at no more than 10% uplift of the previous reviews rent.
Price
The property is available on a freehold basis for £160,000
V.A.T.
The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)
Legal
Each party shall bear their own legal costs incurred in the transaction
Lease & Title
Available on request
Viewing
Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.