98-100, KIng Street Kilmarnock Ayreshire KA1 1PG

98-100, KIng Street
Kilmarnock
Ayreshire
KA1 1PG

Heritable Retail Investment

Let to Poundstretcher Properties Limited, guaranteed by Instore Limited, sublet to River Island Clothing Company Limited
Established town centre retail location
Corner unit with good footfall and exposure
Nearby occupiers include Marks & Spencer, Boots and Superdrug

Lot
49
Auction
11th July 2013
Rent
£91,500 per Annum Exclusive
Status
Sold
Price
£580,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Heritable Retail Investment

Let to Poundstretcher Properties Limited, guaranteed by Instore Limited, sublet to River Island Clothing Company Limited
Established town centre retail location
Corner unit with good footfall and exposure
Nearby occupiers include Marks & Spencer, Boots and Superdrug

Lot 49
Auction 11th July 2013
Rent £91,500 per Annum Exclusive
Status Sold
Price £580,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 12 miles north of Ayr, 22 miles south of Glasgow, 89 miles north of Carlisle
Roads: A76, M74, M77
Rail: Kilmarnock Rail Station
Air: Glasgow Airport

Situation

The property is situated in central Kilmarnock, the major commercial centre within East Ayrshire, on the corner of King Street and Queen Street, with substantial frontage on both streets.Nearby occupiers include Marks & Spencer, Boots, Superdrug and Dorothy Perkins and the property is part of the main pedestrianised retail area.

Tenure

Freehold.

Location

Miles: 12 miles north of Ayr, 22 miles south of Glasgow, 89 miles north of Carlisle
Roads: A76, M74, M77
Rail: Kilmarnock Rail Station
Air: Glasgow Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail unit with two upper floors used as ancillary storage. In addition to this there is a basement used as storage.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises ground floor retail unit with two upper floors used as ancillary storage. In addition to this there is a basement used as storage.

VAT

VAT is applicable to this lot.

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
Basement Ground First Second	Ancillary Retail Ancillary Ancillary	94.02 sq m 340.13 sq m 355.00 sq m 346.15 sq m	(1,102 sq ft) (3,661 sq ft) (3,821 sq ft) (3,725 sq ft)	POUNDSTRETCHER PROPERTIES LTD guaranteed by Instore Limited (2) (sublet to River Island Clothing Company Limited) (1)	24 years from 14/03/1994 until 24/12/2018	£91,500	25/12/2013
Totals		1,135.30 sq m	(12,219 sq ft)			£91,500

(1) For the year ending 25th December 2010, River Island Clothing Company Limited reported a turnover of £720,328,095, a pre-tax profit of £110,793,773 and a total net worth of £115,369,979. (Source: www.riskdisk.com 14/11/2011)
(2) For the year ending 31st March 2012, Instore Limited reported pre-tax profits of £317,000 and a net worth of £96,457,000. (Source: www.riskdisk.com 14/06/2013)