The subjects comprise a ground floor antique shop within a three storey traditional red sandstone building. The roof is pitched and clad in tile. There are offices on the upper floors.
Externally, the shop has a timber glazed frontage under a non-illuminated fascia board and is accessed via a single pedestrian door which leads into the sales area. The floor is of timber and the walls are of plaster/paint. The ceiling incorporates recessed LED lighting. A store and welfare facilities are provided to the rear of the shop.
Location
Kilmarnock is situated in East Ayrshire and serves as the main administrative centre of the Council. The town sits approximately 23 miles south west of Glasgow, 15 miles north east of Ayr and can be accessed by the main arterial route of the M77 motorway.
The property is located on the east side of Titchfield Street, close to its junction with Fowlds Street in Kilmarnock town centre. Fowlds Street forms part of the Kilmarnock Ring Road. Titchfield Street is a prominent secondary town centre retailing area which carries a high traffic volume at most times of day with shops occupied by an interesting mix of local traders. Kilmarnock Railway Station is close by.
Terms
TENANCY
The property is let on a 5 year lease that commenced in October 2020. The passing rent is £7,500 per annum. The lease is subject to a rent review in September 2024. There are no break options to expiry.
OFFERS
Offers over £60,000 are invited for our clients’ heritable interest (Scottish equivalent to English Freehold) subject to the lease agreement in place. Based on a rental income of £7,500 per annum, a purchase at this level would reflect a net initial yield of 12.5%.