Description
TENANTED INVESTMENT***FULL BUILDING over 2 floors TOWN CENTRE LOCATION fully let on a 5 year FRI Lease producing £25,000 per annum EXCELLENT TRADING POSITION.
Let to Luxury Leisure (t/a Admiral) on a FRI lease for 10 years from 3.10.2021 Rent review every 5th year Reversion 2031 Rent £25,000 per annum Upper floor Sub let
The area has been calculated to extend to the following net areas: Ground Floor 207.6 sq m 2,235 sq ft First Floor (Sublet)
PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £25,000 PER ANNUM
EXCELLENT TOWN CENTRE LOCATION***Occupiers close by include Semichen, Ladbrokes, Iceland, Jobcentre, Morrison’s Daily & Subway
TENANTED INVESTMENT***FULL BUILDING over 2 floors TOWN CENTRE LOCATION fully let on a 5 year FRI Lease producing £25,000 per annum EXCELLENT TRADING POSITION. Let to Luxury Leisure (t/a Admiral) on a FRI lease for 10 years from 3.10.2021 Rent review every 5th year Reversion 2031 Rent £25,000 per annum Upper floor Sub let The area has been calculated to extend to the following net areas: Ground Floor 207.6 sq m 2,235 sq ft First Floor (Sublet) PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £25,000 PER ANNUM EXCELLENT TOWN CENTRE LOCATION***Occupiers close by include Semichen, Ladbrokes, Iceland, Jobcentre, Morrison’s Daily & Subway
Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)Length: 5 Years
Rent: £25,000 per year / £2,083 per month
Yield: 11% (approx)
Tenant: Company
Notes: Let to Luxury Leisure (t/a Admiral) on a FRI lease for 10 years from 3.10.2021 Rent review every 5th year Reversion 2031 Rent £25,000 per annum Upper floor Sub let Tenant break option in October 2026 not exercised. Rent review: 2026 rent review outstanding and capable of being exercised.
Maps & Location
Map Street View SatelliteHigh Street occupies a prominent position within the heart of Irvine town centre, one of the principal commercial and retail destinations in North Ayrshire. Irvine is an established coastal town with a strong local residential catchment and a wider commercial influence across the Ayrshire region. The High Street forms an important part of the town's traditional retail and business district, benefiting from a variety of established national retailers, independent businesses, professional services, cafés, restaurants and leisure facilities. The location offers an attractive commercial setting, with good accessibility and a range of amenities within convenient walking distance.
Document Downloads
Pricing Information & Bidding
Opening Bid: £225,000
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Terms & Conditions of Sale
- 10% Deposit (Minimum £3,000)
- Standard Completion (Unless specified differently in any Special Conditions of Sale)
- Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
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STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request an earlier or later completion date which will be detailed in any Special Conditions of Sale for this lot. Buyers must satisfy themselves prior to bidding as to the terms on offer for each property which may differ in deposit amount, completion and buyers fee.
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General Terms & Conditions of Sale
Lot Specific Terms - 116-118 High Street, Irvine