Let to RNT (UK) Limited (t/a Pizza Hut) until 2036 (subject to option)
Close proximity to East Road Retail Park
Nearby occupiers include Aldi, Boots, Argos and Barnardo’s
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 61
Auction 30th March 2017
Rent £11,500 per Annum Exclusive
Status Sold
Price £166,000
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
25 miles south-west of Glasgow, 9 miles west of Kilmarnock
Roads
A77, M77
Rail
Irvine Rail
Air
Prestwick Airport, Glasgow International Airport
Situation
Irvine is one of Scotland's New Towns and is the administrative centre for North Ayrshire Council. The town has a resident population of approximately 33,200 and is the main shopping centre in North Ayrshire. The property is prominently situated on the A736, the main arterial route from the A78 to Irvine Town Centre. The Turf Hotel adjoins the property, with East Road Retail Park also located close by, housing occupiers including Boots, Argos and Barnardo’s. Other nearby occupiers include Aldi, Kwik Fit and Co-operative Funeral Care.
Tenure
Heritable. (Scottish equivalent to English freehold) .
Location
Miles
25 miles south-west of Glasgow, 9 miles west of Kilmarnock
Roads
A77, M77
Rail
Irvine Rail
Air
Prestwick Airport, Glasgow International Airport
Situation
Irvine is one of Scotland's New Towns and is the administrative centre for North Ayrshire Council. The town has a resident population of approximately 33,200 and is the main shopping centre in North Ayrshire. The property is prominently situated on the A736, the main arterial route from the A78 to Irvine Town Centre. The Turf Hotel adjoins the property, with East Road Retail Park also located close by, housing occupiers including Boots, Argos and Barnardo’s. Other nearby occupiers include Aldi, Kwik Fit and Co-operative Funeral Care.
Tenure
Heritable. (Scottish equivalent to English freehold) .
Description
The property comprises a ground floor restaurant.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
Restaurant
98.01 sq m
(1,055 sq ft)
RNT (UK) LIMITED t/a Pizza Hut (1)
20 years from 17/03/2016 until 16/03/2036 (2)
£11,500
17/03/2021 and five yearly
Totals
98.01 sq m
(1,055 sq ft)
£11,500
(1) Pizza Hut, established in 1958, now have over 700 restaurants and delivery outlets up and down the UK (Source: www.pizzahut.co.uk 28/02/2017). (2) The lease provides a tenant option to determine on 16/03/2027 subject to 3 months’ notice.
