Heritable Retail Investment
Heritable Retail Investment
The property is prominently situated on the west side of pedestrianised King Street, close to The Burns Shopping Mall in the heart of the town centre. Opposite both
Marks & Spencer and Boots the Chemist.
Heritable.
The property is prominently situated on the west side of pedestrianised King Street, close to The Burns Shopping Mall in the heart of the town centre. Opposite both
Marks & Spencer and Boots the Chemist.
Heritable.
The subjects comprise a three storey mid terrace building with a Council let shop at ground floor and two upper floors.
The first floor is let to a hairdressing/ beauty salon, the second floor is vacant and there is a separate entrance to all the upper floors from King Street.
VAT is applicable to this lot.
Please refer to the legal pack at www.acuitus.co.uk
The subjects comprise a three storey mid terrace building with a Council let shop at ground floor and two upper floors.
The first floor is let to a hairdressing/ beauty salon, the second floor is vacant and there is a separate entrance to all the upper floors from King Street.
VAT is applicable to this lot.
Please refer to the legal pack at www.acuitus.co.uk
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 183.21 sq m |
(1,972 sq ft) |
EAST AYRSHIRE COUNCIL (t/a Celebrate Kilmarnock) (1) |
1 year from 16/11/2020(2) |
£6,000 | |
| First | Hair/Beauty Salon |
126.31 sq m |
(1,360 sq ft) |
BEAUTY STUDIO 85 LIMITED |
5 years from 17/08/2020 (3) |
£10,000 | 17/08/2022 |
| Second | Offices | 199.18 sq m |
(2,144 sq ft) |
VACANT | |||
(1) East Ayrshire shares borders with Dumfries and Galloway, East Renfrewshire, North Ayrshire, South Ayrshire and South Lanarkshire. The shop at 85/89 King Street operates as Kilmarnock Town Centre Partnership trading as 'Celebrate Kilmarnock', is a registered charity whose aims include promotion and work towards the advancement of citizenship or community development for the benefit of Kilmarnock and its environs, to advance arts, heritage and culture, promotion the provision of recreational facilities and organise recreational activities with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended.
(2) The property was originally let to East Ayrshire Council for a term of 2 years from 16th November 2018 expiring on 15th November 2020 at a rent of £12,000 pa. A lease extension, at a reduced rent of £6,000 pa, was then completed during lockdown extending the lease for a period of 1 year from 16th November 2020.
(3) The tenant has an option to determine the lease on 16/08/2022. If the tenant does not determine the lease, the tenant shall pay a reduced rent of £5,000 pa for 4 months from 17/08/2022.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
By clicking the Submit button I confirm that I would like to get updates on this Property. Please email me updates when they are published.
If you have a query, please fill in the box below, otherwise click the Submit button.
We will keep you updated about lot xthis property.
In the meantime, if you would like to speak to the Surveyor about this property, please call on .
Are you sure you want to remove this property from your Watch List?
Are you sure you are no longer interested in this property?
Are you sure you want to delete your Account?
