For Sale offers around £700,000 - Investment
Address
115 – 119 King Street, 5-7 St Marnock Street ad 52 Sandbed, Kilmarnock KA1 1DZ
Description
Mixed retail and office property enjoying a high profile location at the entrance to Kilmarnock Town Centre recent works carried out include re-painting externally ( September 2021 ) and re-furbishment of the granite fascade (October 2021 ).
Location
Kilmarnock, with a resident population of approximately 45,000 persons at the last census is the principal settlement in East Ayrshire and the Town enjoys good links to the motorway network in the West of Scotland and sits on the main west coast railway line.
The pedestrianised part of King Street is generally regarded as the town’s prime retail pitch and the subjects are only a short distance away from Marks & Spencer, the main Boots, River Island etc and the main car parks serving the town centre are closeby.
Tenants
The building is completely occupied apart from a very small office suite which is earmarked for refurbishment prior to letting and the tenancies are made up as follows;
GROUND FLOOR:
Barrhead Travel
Premier Beauty
Subway
Mortgage Master
Gilmour Facility Services
FIRST FLOOR:
Vacant
Stitches
Gallen Solicitors
SECOND FLOOR:
Gilmour Facility Services
Paterson Associates, Surveyors
Tony Bone, Solicitors
The Current Passing rents totals £84,300 and all leases are on Full Repairing and Insuring terms with common repairs, cleaning, insurance, decoration, management fees all met by service charges
Please Note: A full tenancy Schedule will be made available to genuinely interested parties.
Rating Assessments
The subjects are entered in the current Valuation Roll with effect from 1st April 2023 as follows;
115 King Street Barrhead Travel Rateable Value £12,700
117 King Street Premier Beauty Rateable Value 6,100
119 King Street Subway Rateable Value £9,900
7 St Marnock Street Mortgage Master Rateable Value £8,700
5 St Marnock Street Vacant Rateable Value £5,200
5 St Marnock Street Stitches Rateable Value £5,900
5 St Marnock Street Roselyn Gallen Rateable Value £4,900
5 St Marnock Street Gilmour Facilities Rateable Value £3,150
5 St Marnock Street Paterson Associates Rateable Value £3,350
5 St Marnock Street Tony Bone Legal Rateable Value £4,600
52 Sandbed Gilmour Facilities Rateable Value £2,750
The Building is Listed in which case should any part of the property become vacant, the Landlord would enjoy 100% relief from Rates.
