The property is let on a 3 year FRI lease that commenced in August 2024 at a rent of £4,500 pa.
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 | Restaurant / Cafe | 302 | 28.06 |
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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Barassie122 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 £40,000
Rates Payable £1,245 per annum
EPC Rating This property has been graded as A (14)
Description
The subjects comprise a single storey unit of masonry construction, under a flat roof. The property has a glazed frontage and single access door to the front elevation. Internally, the unit benefits from a commercial extraction canopy. 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 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.
Tenure
Heritable Interest (Scottish equivalent of English Freehold).
Price
Offers over £40,000 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 £4,500 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 £2,500 effective from 1st April 2023.
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