The property is let on a 10 year FRI lease that commenced in June 2023 at a rent of £9,600 per annum.
Summary
- Busy thoroughfare
- Main road frontage
- Residential area
- VAT free investment
- Net Initial Yield 11.3%
Accommodation
The accommodation comprises the following areas:
| Name | Building Type | sq ft | sq m |
| Ground | Takeaway | 750 | 69.68 |
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.
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Mainline Stations
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Kilmarnock34 mins
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Kilmaurs72 mins
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Barassie123 mins
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Stewarton129 mins
Underground Station
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Chesham6019 mins
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Amersham6058 mins
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Chalfont and Latimer6083 mins
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Chorleywood6117 mins
Further Information
Price Offers in excess of £85,000
Rates Payable £2,490 per annum
EPC Rating This property has been graded as A (15)
Description
The subjects comprise a single storey hot food takeaway of masonry construction, under a flat roof. The property has a glazed frontage and single access door to the front elevation. Internally, the kitchen benefits from a commercial extraction canopy with extraction flue. Storage and staff welfare areas are provided to the rear. Ample free parking is available to the front of the property.
Tenancy
The property is let on a 10 year FRI lease that commenced in June 2023 at a rent of £9,600 per annum. There are no break options and the rent is subject to an open market rent review on the 5th anniversary.
Tenure
Heritable Interest (Scottish equivalent of English Freehold).
Price
Offers over £85,000 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 £9,600 per annum, a purchase at this level would reflect a net initial yield of 11.3%.
Rateable Value
According to the Scottish Assessors Association, the subjects have a Rateable Value of £5,000 effective from 1st April 2023.
EPC
A copy of the Energy Performance Certificate (EPC) is available upon request.
VAT
The subjects have not been elected for VAT and therefore no VAT will be payable on the sale price.
what3words
trade.reward.army
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