The subjects comprise a prominent double fronted retail unit of steel frame construction with concrete rendered brick walls which have been over-clad with corrugated profile insulated metal cladding and a pitched and slated steel truss roof.
Location
Ayr is the principal sub-regional shopping centre in teh south west of Scotland and lies within the boundaries of South Ayrshire Council.
It is generally regarded as being the commercial centre of Ayrshire and is situated approximately 58 km (36 miles) south west of Glasgow and 21 km (13 miles) from the neighbouring towns of Irvine and Kilmarnock. The town has a resident population of approximately 50,000 with a catchment in excess of 110,000 persons.
The town benefits from a well established and efficient road, rail and air network. The M77 extension on the outskirts of Glasgow provides a swift link to the city in approximately 40 minutes which is complemented by a rail link to Glasgow for connection to the intercity network. Prestwick Airport lies 5 km (3 miles) to the north of Ayr.
Prestwick Road is the boundary between Ayr and Prestwick and acts as a main arterial route into both. The road's bilateral position has resulted in heavy traffic and footfall making it an ideal location for retail occupiers.
The subject property occupies a prominent position on Prestwick Road, close to the junction with Heathfield Road, approximately 2.75 km (1.5 miles) from Ayr town centre. Nearby occupiers include Aldi, Sainsburys, Shell and Arnold Clark.
Accommodation
The units are fitted out to each occupier's standard corporate specification and benefit from a concrete covered off-street car park which provides spaces for approximately 27 cars.
Terms
Proposal - Our client is seeking offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds) excluding vat, reflecting a net initial yield of 9.5% assuming purchasers costs of 5.8%.
VAT - The property has been elected for VAT and therefore VAT will be payable in respect of the purchase price. We anticipate the transaction will be treated as a TOGC (Transfer of Going Concern).
EPC - A copy of the EPC reports are included.
Specification
- Affluent neighbourhood location
- Prominent roadside retail parade with 27 car parking spaces
- Tesco and Bathstore.com with over 4 years unexpired term
- Annual rent of £151,486 per annum
- Scottish Freehold
- Offers in excess of £1,500,000, excluding VAT
- Attractive net initial yield reflecting 9.5%, assuming purchasers costs of 5.8%