Royal Mail Distribution Centre, 3 Queens Drive Kilmarnock East Ayrshire KA1 3XF

Royal Mail Distribution Centre,
3 Queens Drive
Kilmarnock
East Ayrshire
KA1 3XF

Heritable Purpose Built Distribution Centre / Industrial Investment

Purpose Built Royal Mail Distribution Centre
Let to Royal Mail Group Limited
Recently Renewed 10 year lease from November 2021 (Subject to Option)
Modest Passing Rent - £5.12 per sqft
Tenant in occupation for at least 20 years
Approximately 18,424 sq ft with low Site Coverage of 21%
Located adjacent to Queens Drive Retail and Leisure Park with occupiers including Asda, The Range, B&Q, Pets at Home, B&M, Odeon, Fitness First and KFC
Future Development Potential (Subject to Lease and Consents)

Lot
20
Auction
22nd September 2022
Rent
£94,500 per Annum Exclusive
Status
Sold
Price
£1,405,000
Auction Venue
Live Streamed Auction
On Behalf of a Real Estate Investment Trust

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Heritable Purpose Built Distribution Centre / Industrial Investment

Purpose Built Royal Mail Distribution Centre
Let to Royal Mail Group Limited
Recently Renewed 10 year lease from November 2021 (Subject to Option)
Modest Passing Rent - £5.12 per sqft
Tenant in occupation for at least 20 years
Approximately 18,424 sq ft with low Site Coverage of 21%
Located adjacent to Queens Drive Retail and Leisure Park with occupiers including Asda, The Range, B&Q, Pets at Home, B&M, Odeon, Fitness First and KFC
Future Development Potential (Subject to Lease and Consents)

Lot 20
Auction 22nd September 2022
Rent £94,500 per Annum Exclusive
Status Sold
Price £1,405,000
Sector
Industrial, Warehouse
Auction Venue
Live Streamed Auction
On Behalf of a Real Estate Investment Trust

Property Information

Location

Miles 24 miles south-west of Glasgow

Roads A71, A76, A77, M77

Rail Kilmarnock Railway Station

Air Glasgow Prestwick Airport, Glasgow International Airport

Situation

Located close to both Queens Drive (A735) and the A71 Hurlford Road, the property lies south of Kilmarnock town centre and adjacent to Queen’s Drive Retail and Leisure Park. Occupiers on the retail and leisure park include Asda, The Range and B&Q, Odeon Cinema, KFC, Burger King and Fitness First Gym. Glencairn Retail Park is also located a short distance away.

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Location

Miles 24 miles south-west of Glasgow

Roads A71, A76, A77, M77

Rail Kilmarnock Railway Station

Air Glasgow Prestwick Airport, Glasgow International Airport

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Description

The property comprises a purpose-built, distribution warehouse. The property is of steel portal frame construction with 5.5 metre eaves height. The total site measures 2 acres representing a low site coverage of 21% allowing for Royal Mail trucks, vans and visitor parking.

VAT

VAT is applicable to this lot.

EPC

Please see Legal pack

Description

VAT

VAT is applicable to this lot.

EPC

Please see Legal pack

Tenancy & Accommodation

Floor	Use	Gross Internal Floor Areas Approx sq m	Gross Internal Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Distribution Centre /Warehouse / Ancillary	1,711.63 sq m	(18,424 sq ft)	ROYAL MAIL GROUP LIMITED (1)	10 years from 8th November 2021 on a full repairing and insuring lease (2)	£94,500	08/11/2026
TOTAL		1,711.63 sq m	(18,424 sq ft)			£94,500

(1) Royal Mail Group is an international business that provides postal and delivery services across extensive networks. The Group employ 136,500 people, almost 49,000 delivery vehicles and 37 mail centres throughout the UK (Source: www.royalmailgroup.com). For the year to 28/03/2021 Royal Mail Group Limited recorded a turnover of £8,658,000,000, a pre tax profit of £320,000,000 and a net worth of £3,732,000,000 (Source: NorthRow 19/08/2022)
(2) The lease is subject to a tenant option to determine on 8th November 2026. A 4 month rent free period will be granted if the tenant does not exercise their break.

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.