85 - 87 High Street Ayr Ayrshire KA7 1QL

85 - 87 High Street
Ayr
Ayrshire
KA7 1QL

Heritable Retail Investment

Prominent location in main retailing street in Ayr
New 15 year lease to Greggs Limited
Unit fitted out in Greggs new corporate style
Nearby occupiers include Marks & Spencer, Card Factory, Coral, H Samuel and Superdrug
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
67
Auction
13th October 2016
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£480,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Heritable Retail Investment

Prominent location in main retailing street in Ayr
New 15 year lease to Greggs Limited
Unit fitted out in Greggs new corporate style
Nearby occupiers include Marks & Spencer, Card Factory, Coral, H Samuel and Superdrug
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 67
Auction 13th October 2016
Rent £30,000 per Annum Exclusive
Status Sold
Price £480,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 38 miles south of Glasgow, 83 miles south-west of Edinburgh
Roads: M77, A77
Rail: Ayr Railway Station (ScotRail)
Air: Prestwick Airport (3 miles north), Glasgow International Airport (41 miles north)

Situation

Ayr is the administrative centre for South Ayrshire and has a population of 46,000 people. The property is located in a busy position on the High Street in Ayr town centre. The High Street has restricted vehicle access and the property is located adjacent to several bus stops. Neighbouring occupiers include Marks & Spencer, Tesco Express, Clinton Cards, Card Factory, H Samuel, Coral, RS McColl and Superdrug.

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Location

Miles: 38 miles south of Glasgow, 83 miles south-west of Edinburgh
Roads: M77, A77
Rail: Ayr Railway Station (ScotRail)
Air: Prestwick Airport (3 miles north), Glasgow International Airport (41 miles north)

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Description

The property comprises the ground floor retail unit within a larger
traditional building. The upper floors of the property are under
separate ownership.

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 the ground floor retail unit within a larger
traditional building. The upper floors of the property are under
separate ownership.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Address	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
85/87 High Street	Retail	171.68 sq m	(1,848 sq ft)	GREGGS PLC	15 years from 05/08/2016 (1) (2)	£30,000 (3)	05/08/2021, 05/08/2026 (05/08/2031)
Total		171.68 sq m	(1,848 sq ft)			£30,000

(1) The first Greggs shop began trading 65 years ago and the company now operates from approximately 1,700 stores throughout the UK (Source: www.greggs.co.uk). The company employs some 20,000 people. For the year ended 02/01/2016, Greggs PLC reported a turnover of £835,749,000, a pre-tax profit of £73,028,000 and a net worth of £256,026,000 (Source: Risk Disk 16/09/2016)
(2) The tenant has a break option on 04/08/2026 on not less than 6 months’ written notice.
(3) The current rental income for 85/87 High Street, Ayr is £30,000 per annum from 16th March 2018. The Seller has agreed to adjust the completion monies so that the property effectively produces £30,000 per annum from completion of the sale.