25 Portland Street Kilmarnock East Ayrshire KA1 1JN

  • 25 Portland Street<br>Kilmarnock<br>East Ayrshire<br>KA1 1JN

25 Portland Street
Kilmarnock
East Ayrshire
KA1 1JN

Heritable Retail and Office Investment

  • Let to Scottish & Universal Newspapers Limited t/a The Kilmarnock Standard until 2026 (subject to option)
  • Located at the entrance to Kilmarnock's pedestrianised retail district
  • Within close proximity to the main town car park and Kilmarnock Station
  • Nearby occupiers include Sports Direct, Peacocks and Costa
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    78
  • Auction
    30th March 2017
  • Rent
    £15,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager
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Heritable Retail and Office Investment

  • Let to Scottish & Universal Newspapers Limited t/a The Kilmarnock Standard until 2026 (subject to option)
  • Located at the entrance to Kilmarnock's pedestrianised retail district
  • Within close proximity to the main town car park and Kilmarnock Station
  • Nearby occupiers include Sports Direct, Peacocks and Costa
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 78
  • Auction 30th March 2017
  • Rent £15,000 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager

Property Information

Location
Miles
24 miles south-west of Glasgow
Roads
A71, A76, A77, M77
Rail
Kilmarnock Rail (ScotRail)
Air
Glasgow Prestwick Airport, Glasgow International Airport
Situation

Kilmarnock is the main town and administrative centre in East Ayrshire, situated 25 miles south-west of Glasgow with excellent links via the A77/M77. The property occupies a prominent position on the north side of Portland Street, to the main town centre car park and within close proximity to the railway station. Kilmarnock Rail Station provides services north to Glasgow and south to Carlisle. The property is also located within close proximity to the Burns Shopping Mall which houses occupiers including Argos, New Look and JD Sports. Other nearby occupiers include Sports Direct, Peacocks and Costa Coffee.

Tenure

Heritable. (Scottish Equivalent to English Freehold).

Location
Miles
24 miles south-west of Glasgow
Roads
A71, A76, A77, M77
Rail
Kilmarnock Rail (ScotRail)
Air
Glasgow Prestwick Airport, Glasgow International Airport
Situation

Kilmarnock is the main town and administrative centre in East Ayrshire, situated 25 miles south-west of Glasgow with excellent links via the A77/M77. The property occupies a prominent position on the north side of Portland Street, to the main town centre car park and within close proximity to the railway station. Kilmarnock Rail Station provides services north to Glasgow and south to Carlisle. The property is also located within close proximity to the Burns Shopping Mall which houses occupiers including Argos, New Look and JD Sports. Other nearby occupiers include Sports Direct, Peacocks and Costa Coffee.

Tenure

Heritable. (Scottish Equivalent to English Freehold).

Description

The property comprises a ground floor retail and office unit with first floor office and ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a ground floor retail and office unit with first floor office and ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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 Review/(Reversion)
Ground
First
 Retail/Office Office/Ancillary
96.66 sq m
78.23 sq m
(1,040 sq ft)
(842 sq ft)
 SCOTTISH & UNIVERSAL
NEWSPAPERS
LIMITED (1)
 20 years from
26/06/2006 until
26/06/2026 (2)
 £15,000
 26/06/2021
Total  
174.89 sq m
(1,882 sq ft)
     £15,000
  

(1) For the year ending 31 December 2015, Scottish and Universal Newspapers Limited reported a turnover of £13,180,000, pre-tax profits of £3,898,000 and a total net worth of £13,802,000 (Source: Experian Group - 27/02/2017). Scottish & Universal Newspapers Limited is a subsidiary of Trinity Mirror Plc which is the largest national and regional multimedia content publisher in the UK, comprising national and regional newsbrands across the country. They publish more than 150 newspaper titles across the UK and Ireland, from the national presence of the Daily Mirror, the Daily Record, the Sunday Mirror to local news (Source: www.trinitymirror.com 27/02/2017).
(2) The lease provides an option to determine on 26/06/2021.

Contacts

Seller's Solicitors
DWF LLP No. 2 Lochrin Square, 96 Fountainbridge
Edinburgh
EH3 9QA
Iain Mclean 0131 474 2320iain.mclean@dwf.law

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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