Let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032 (no breaks)
Prominent roadside position fronting busy Irvine Road (A78)
Nearby occupiers include Morrisons Superstore, Londis and Gulf Petrol Station
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 62
Auction 19th May 2016
Rent £44,052 per Annum Exclusive
Status Sold Prior
Price
Sector Motor Trade/Petrol Station
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
21 miles south west of Paisley, 23 miles north west of Kilmarnock and 29 miles west of Glasgow
Roads
A78, A760, A737
Rail
Largs Rail
Air
Glasgow International Airport
Situation
Largs is a popular seaside resort town about 29 miles west of Glasgow adjacent to Clyde Muirshiel Regional Park. The property occupies a prominent roadside location fronting the busy Irvine Road (A78), just 0.3 miles from Largs town centre. Nearby occupiers include Morrisons Superstore, Londis and Gulf Petrol Station.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
21 miles south west of Paisley, 23 miles north west of Kilmarnock and 29 miles west of Glasgow
Roads
A78, A760, A737
Rail
Largs Rail
Air
Glasgow International Airport
Situation
Largs is a popular seaside resort town about 29 miles west of Glasgow adjacent to Clyde Muirshiel Regional Park. The property occupies a prominent roadside location fronting the busy Irvine Road (A78), just 0.3 miles from Largs town centre. Nearby occupiers include Morrisons Superstore, Londis and Gulf Petrol Station.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a ground floor tyre depot with reception area and first floor office/ancillary accommodation. The site benefits from a forecourt to park approximately five cars, with additional parking to the side of the property and three roller shutter doors.
The title excludes the residential flats at first and second floors at 4 Blackdales Avenue. Please see the legal pack.
Six Week Completion
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 a ground floor tyre depot with reception area and first floor office/ancillary accommodation. The site benefits from a forecourt to park approximately five cars, with additional parking to the side of the property and three roller shutter doors.
The title excludes the residential flats at first and second floors at 4 Blackdales Avenue. Please see the legal pack.
Six Week Completion
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
Area/sq m (sq ft)
Tenant
Term
Rent p.a.x
Reviews
Ground
Tyre & Exhaust Centre
513.65 sq m
(5,529 sq ft)
KWIK-FIT (GB) LIMITED (1) (GUARANTEED BY KWIK-FIT HOLDINGS LIMITED) (2)
25 years from 20/03/2007 until 19/03/2032 on a full repairing and insuring lease
£44,052
20/03/2017 and five yearly
First
Office/Ancillary
293.47 sq m
(3,159 sq ft)
Totals
807.13 sq m
(8,688 sq ft)
£44,052 (3)
(1) For the year ending 31st March 2015, Kwik-Fit (GB) Limited reported a turnover of £472,480,000, pre-tax profits of £17,930,000 and a total net worth of £47,325,000. (Source: Experian 04/04/2016) (2) For the year ending 31st March 2015, Kwik-Fit Holdings Limited reported a total net worth of £28,527,000. (Source: Experian 31/03/2016) (3) The lease provides fixed rental increase to £44,052 in 2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £44,052 p.a.x. from completion of the sale.