Entirely let to Wolseley UK Limited until 2022 with an option to renew for a further 15 years
Five yearly fixed rental uplifts
Nearby occupiers include Jewsons, Graham Builders’ Merchants and other trade counter retailers
Established industrial and trade counter area
On-site car parking
SPV available (Stamp Duty Saving) by separate negotiation
Rent rises to £43,274 per annum exclusive in 2017
Lot 31
Auction 21st October 2010
Rent £39,195 per Annum Exclusive
Status Withdrawn Post
Price
Sector Retail Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
0.5 miles north of town centre, 15 miles south west of Kilmarnock, 36 miles south west of Glasgow
Roads
A79, A77, A719
Rail
Newton-on-Ayr Railway Station
Air
Glasgow Prestwick International Airport (4 miles), Glasgow International Airport (30 miles)
Situation
The property is situated in a prominent corner position on the west side of Green Street, at its junction with Taylor Street. The area benefits from good communications being approximately 0.5 miles from the town centre. Nearby occupiers include Jewsons, Graham Builders’ Merchants and other trade counter retailers.
Tenure
Heritable. (Scottish equivalent to English Freehold).
Location
Miles
0.5 miles north of town centre, 15 miles south west of Kilmarnock, 36 miles south west of Glasgow
Roads
A79, A77, A719
Rail
Newton-on-Ayr Railway Station
Air
Glasgow Prestwick International Airport (4 miles), Glasgow International Airport (30 miles)
Situation
The property is situated in a prominent corner position on the west side of Green Street, at its junction with Taylor Street. The area benefits from good communications being approximately 0.5 miles from the town centre. Nearby occupiers include Jewsons, Graham Builders’ Merchants and other trade counter retailers.
Tenure
Heritable. (Scottish equivalent to English Freehold).
Description
The property comprises TWO INTERLINKING WAREHOUSES with TRADE COUNTER and OFFICE ACCOMMODATION to the front. The property benefits from EXTERNAL STORAGE and ADDITIONAL PARKING via a SECURE YARD to the south side and designated parking in the forecourt. The property has a total approximate site area of 0.18 hectares (0.448 acres).
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 TWO INTERLINKING WAREHOUSES with TRADE COUNTER and OFFICE ACCOMMODATION to the front. The property benefits from EXTERNAL STORAGE and ADDITIONAL PARKING via a SECURE YARD to the south side and designated parking in the forecourt. The property has a total approximate site area of 0.18 hectares (0.448 acres).
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
Reviews
Ground
Trade Counter/ Warehouse/Office
979 sq m
(10,538 sq ft)
WOLSELEY UK LTD (1)
15 years from 18/01/2007 to 17/01/2022 on a full repairing and insuring lease (2)
£39,195 (3)
16/01/2012 and 5 yearly thereafter (4)(5)
Totals
979 sq m
(10,538 sq ft)
£39,195
(1) Wolseley UK Ltd is a FTSE 100 company, the largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials to the professional market. They operate from 4,400 branches in 25 countries worldwide and have 47,000 employees. (Source: www.wolseley.com 13/09/2010)(2) Please note that the lease is subject to a Schedule of Condition.(3) The current rent reserved is £35,500 p.a.x. Under the terms of the lease there will be a fixed rental increase to £39,195 p.a.x. on 16th January 2012. The vendor will pay the buyer the difference between the current rent reserved of £35,500 p.a.x. and £39,195 p.a.x. from completion of sale until this date. As a result, the property will produce an income of £39,195 p.a.x from completion.(4) Under the terms of the lease there will be fixed rental increases as follows: 16th January 2012 – £39,195 p.a.x. and 16th January 2017 – £43,274 p.a.x.(5) Please note, the tenant will have an option to request a new 15 year lease at open market rental value. The option is subject to a minimum of 12 months’ notice.
