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Lot 191

Guide Price: £165,000 - Bid Now

27A Portland Street, Kilmarnock, KA1 1JN


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Key Features:

**REDUCED GUIDE** Freehold OWNERSHIP *** LET HIGH YIELDING LICENSED RESTAURANT INVESTMENT *** LET @ £20,000 PER ANNUM for first two years. NEW Lease agreement signed Feb 2018). Within Kilmarnock's' busy Pedestrianised Section NEXT TO PRINCIPLE LARGE CAR PARK and Wetherspoons Public House. Gross Internal Floor Area: 386.85 sq. m (4,164 SQ. FT)


  • Subject to a lease INCREASE TO £25,000 per annum Feb 2020.(OVER 100 COVERS INSIDE). LET personally to Mr Yong Wang trading as KK World Buffet Restaurant on a FRI lease expiring on the February 2018 (Lower RENT agreed for first two years at £20,000 p/annum)
  • FULLY FITTED & LICENSED REFURBISHED RESTAURANT (Internal PICTURE now LIVE August 2018). The premises form part of the ground with main door access into stairwell and first floors of a modern two-storey corner building under a pitched and slated roof. The subjects have been fitted out as a Chinese restaurant. Net internal area of 4,261 sq. ft. UNIT SOLD AS SEEN INCLUDING ALL KITCHEN EQUIPMENT - FULL SALE
  • WAS SOLD historically FOR £850,000 with number 27 included (August 2006). Ideally located within the heart of Kilmarnock's' Pedestrianised town centre with added benefit from high footfall. Adjacent to Marks and Spencer, Boots, Superdrug and River Island. Facing SPORTS DIRECT & Wetherspoons Public House
  • LET Restaurant Investment £20k p/annum Rent until 2020. Lots of attractive High Street names surrounding the premises including boutiques, local gift shops, commercial offices, popular restaurants, hair & beauty businesses etc. Super location. within Kilmarnock Town Centre. There good road links with Easy access to recently upgraded M77 motorway network Glasgow and Ayr both approx 30 minutes


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.
Rateable Value

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- Click the above link to search the latest records for this post code. The Scottish Assessors Portal provides Council Tax and Rates for all properties in Scotland.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 20 Years
Rent £20,000 per year / £1,667 per month
Yield 12.1% (at guide price)
Tenant Private Individual
Notes: Lease signed Feb 2018 @ £20k per annum (Reduced Rent). Rent increase to £25k p/annum from 2020

Full Details:

Freehold OWNERSHIP *** LET HIGH YIELDING LICENSED RESTAURANT INVESTMENT *** LET @ £20,000 PER ANNUM for first two years. NEW Lease agreement signed Feb 2018). Within Kilmarnock's' busy Pedestrianised Section NEXT TO PRINCIPLE LARGE CAR PARK and Wetherspoons Public House. Gross Internal Floor Area: 386.85 sq. m (4,164 SQ. FT). Subject to a lease INCREASE TO £25,000 per annum Feb 2020.(OVER 100 COVERS INSIDE). LET personally to Mr Yong Wang trading as KK World Buffet Restaurant on a FRI lease expiring on the February 2018 (Lower RENT agreed for first two years at £20k p/annum). FULLY FITTED & LICENSED REFURBISHED RESTAURANT (Internal PICTURE now LIVE August 2018). The premises form part of the ground with main door access into stairwell and first floors of a modern two-storey corner building under a pitched and slated roof. The subjects have been fitted out as a Chinese restaurant. Net internal area of 4,261 sq. ft. UNIT SOLD AS SEEN INCLUDING ALL KITCHEN EQUIPMENT

Guide Price: £165,000 - Bid Now


What is a Guide Price...

Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Unless specified all properties are subject to a Reserve (minimum acceptable price) which we expect will be set no more than 10% above or below the advertised guide.

Bid Now Explained...

You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Map & Location:


Super location within Kilmarnock Town Centre. There good road links with Easy access to recently upgraded M77 motorway network Glasgow and Ayr both approx 30 minutes. Prestwick International Airport only 25 minutes. PRICED FOR A FAST SALE. Near to Post office, Bank of Scotland, Card Factory *** PRIME PITCH *** Nearby occupiers include, Boots, Carphone Warehouse, Burtons, Game Station and First choice travel agents. Ideally Located within the Heart of Kilmarnock's pedestrianised Town Centre to benefit from High Footfall facing Sports Direct. Near to Clydesdale Bank and adjacent to Marks and Spencer, Boots and Superdrug

Viewings:


Internal Open Viewings...


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime...


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.

Auction Details:



  • Auction Date...

    04 February 2019


  • Start Time...

    7.30pm


  • Auction Location...

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions...

Glasgow Radisson | Edinburgh Marriott


Registration...

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs...

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits...

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method...

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.

How To Bid:


Offer Now...

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person...

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live...

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...
Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy... (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form