Kwik-Fit, 28 Irvine Road Largs North Ayrshire KA30 8HW

Kwik-Fit, 28 Irvine Road
Largs
North Ayrshire
KA30 8HW

Heritable Tyre Depot Investment

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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Heritable Tyre Depot Investment

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

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

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)			£44,052	20/03/2017 and five yearly
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.