Summary
under a flat roof. Each unit benefits from glazed frontage and single access door to the front elevation. Internally, the units all have open plan sales areas with storage and staff welfare areas to the rear.
1 Shortlees Crescent comprises a Class 3 hot food takeaway and the kitchen benefits from a commercial extraction canopy with extraction flue. 1a Shortlees operates as a retail unit as does 2 Central Avenue which is vacant. 2a Central Avenue benefits from a commercial extraction canopy and is fitted out with the necessary fixtures and fittings required to operate as a cafe. Ample free parking is available to the front of the properties.
Key Points
Busy thoroughfareMain road frontageIncome of £18,900 paOffers over £195,000Net Initial Yield 9.6%Potential Yield 13.3%VAT free investment
Accommodation
1 Shortlees Crescent - 69.66 sq m (750 sq ft)
1a Shortlees Crescent - 28.08 sq m (302 sq ft)
2 Central Avenue - 72.18 sq m (777 sq ft)
2a Central Avenue - 31.73 sq m (342 sq ft)
Tenancies
1 Shortlees Crescent is let on a 10 year FRI lease that commenced in June 2023 at a rent of £9,600 per annum. The rent is subject to an open market rent review on the 5th anniversary.
1a Shortlees Crescent is let on a 3 year FRI lease that commenced in August 2024 at a rent of £4,500 per annum. There is a lease break option on the 2nd anniversary of the lease.
2 Central Avenue is currently vacant.
2a Central Avenue is let on a 10 year FRI lease that commenced in May 2024 at a rent of £4,800 per annum. On the 5th anniversary of the lease there is a lease break option and the rent is subject to an open market rent review.
Tenure
Heritable Interest (Scottish equivalent of English Freehold).
Price
Offers over £195,000 are invited for our clients heritable interest (Scottish equivalent to English Freehold) subject to the lease agreements in place. A purchase at this level would reflect a NIY of 9.6% after purchasers' costs and a potential yield of 13.3% after the vacant unit it let.
Rateable Values
We refer you to the Scottish Assessors Association website for details.
EPC
Copies of the Energy Performance Certificates (EPC) are available upon request.
VAT
The subjects are not elected for VAT, therefore, VAT is not payable on the purchase price.
What3words
trade.reward.army
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 subjects are located to the south of Shortlees Crescent immediately at its junction with Central Avenue, in the Shortlees area of Kilmarnock. The situation of the subjects benefit from being at the centre of a densely populated residential area. The main arterial road (Ayr Road), which passes through the centre of Kilmarnock takes less than one minutes’ drive to reach. Nearby occupiers include Shortlees Post Office, Cod Father and Kayani News.