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Retail / Cafe Investment, 35 Main Street, Kirkconnel, DG4 6NB

769 Sq Ft / Retail / Investment

For Sale - £50,000.00

Sold - Last updated: 14 March 2022

The property comprises a mid-terraced ground floor retail unit, contained within a building of brickwork construction with sandstone facade under a pitched and slated roof. Access is provided directly from the shop frontage. The accommodation comprises an open plan retail unit currently in the form of a cafe with a dining area to the rear, WC’s and store. The floor is of terrazzo and is carpeted in the dining area. The walls are plaster/painted and the ceilings incorporate a mix of spot and fluorescent strip lighting. Space heating is provided electrically.

Location

Kirkconnel is a small town in Dumfries and Galloway, southwestern Scotland. It is located on the A76 near the head of Nithsdale. The property is situated on the north side of Main Street within the centre of the town, which forms the main arterial route through the town centre.  Kirkconnel provides essential goods and services to the local community and surrounding area. Public transport is provided with both bus and rail links between Kilmarnock and Dumfries.

Accommodation

The accommodation has been measured in accordance with the RICS Property Measurement (2nd edition) Professional Statement and the following approximate area has been calculated on a net internal basis: 71.47 sq m (769 sq ft).

Terms

Offers in excess of £50,000 are invited for the heritable interest (Scottish equivalent to English Freehold) which based on the rental income of £5,200 per annum would reflect a net initial yield of 10.4%.

Specification

TENANCY

The property is let on full repairing and repairing terms for a 10 year term commencing 5th July 2021 at a current rent of £5,200 per annum. The lease incorporates a mutual break option on the third and sixth anniversary from the term commencement date. The rent is subject to an open market rent review on the fifth anniversary.

 

RATEABLE VALUE

According to the Scottish Assessors Association website, the subjects have a Rateable Value of £2,500. As the Rateable Value falls below £15,000, the owner/occupier may be eligible for 100% rates relief, subject to status.

 

ENERGY PERFORMANCE

A copy of the Energy Performance Certificate (EPC) is available upon request.

 

VAT

All prices quoted are exclusive of VAT, where applicable. The subjects are not elected for VAT, therefore, no VAT will be payable on the sale price.

 

LEGAL COSTS

Each party will be responsible for their own legal costs. The purchaser will be responsible for any registration dues and LBTT.

 

ENTRY

Entry will be available on completion of legal formalities.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £50,000.00 NA

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