148-154 High Street
Ayr
Ayrshire
KA7 1PR

Attractive Heritable Bank and Residential Investment

  • Majority let to TSB Bank Plc until June 2026
  • Minute of Extension and Variation recently signed extending TSB’s term for a further 7 years at a re-based rent
  • Includes three self-contained residential flats
  • Prominent town centre location
  • Nearby occupiers include Boots, Tesco, Express, Superdrug, Game, Greggs, Wilko, Waterstones and Holland & Barrett
  • Lot
    74
  • Auction
    24/May/2018
  • Rent
    £130,400 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 148-154 High Street<br>Ayr<br>Ayrshire<br>KA7 1PR
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Property Information

Location
Miles
35 miles south-west of Glasgow, 70 miles south-west of Edinburgh
Roads
A76, A77, M77
Rail
Ayr Railway Station
Air
Glasgow Prestwick and Glasgow International Airports
Situation

The property is prominently situated in the heart of the town centre, on the east side of High Street. Nearby occupiers include Boots, Tesco Express, Superdrug, Game, Greggs, Wilko, Waterstones and Holland & Barrett.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property, an attractive listed building, comprises a ground floor banking hall with office and ancillary accommodation on the first floor. The second floor comprises one self-contained two bedroom flat and two self-contained one bedroom flats, all three accessed via Nile Court.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Bidder's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
First
Banking Hall
Office/Ancillary
248.53 sq m
254.68 sq m
(2,675 sq ft)
(2,741 sq ft)
TSB BANK PLC
(1)
32 years from 13/06/1994 to
12/06/2026 on a full repairing
and insuring lease (2)
£125,00012/06/2021
Second
(Flat 1)
Two bedroom
flat
90.00 sq m
(969 sq ft)
INDIVIDUALSShort Assured Tenancy from
17/11/2003 to 16/04/2004
(continuing on a rolling basis)
£5,400 (3) 
Second
(Flat 2)
One bedroom
flat
53.00 sq m
(571 sq ft)
VACANT
POSSESSION
   
Second
(Flat 3)
One bedroom
flat
67.00 sq m
(721 sq ft)
VACANT
POSSESSION
   
Total
713.21 sq m
(7,677 sq ft)
  £130,400 

(1) For the year ending 31st December 2017, TSB Bank Plc reported a pre-tax profit of £159,100,000 and a total net worth £1,996,500,000 (Source: Experian Group 25/04/2018).
(2) The tenant occupies the property under a lease for a term 25 years from 13/06/1994 until 12/06/2019. A Minute of Extension and Variation has recently been entered into extending the term for an additional 7 years from 13/06/2019 until 12/06/2026. The rent was rebased
from £178,000 p.a.x. to £125,000 p.a.x. In addition, the second floor previously demised to TSB Bank Plc was surrendered to the landlord.
(3) The rent stated has been annualised.
NB. The residential areas stated above are on a Gross Internal basis (GIA).

Property Documents

  • Solicitors Legal Pack
    Updated Date
    02.05.18
    File Size
    208 MB
    Login to View
  • Site Plan
    Updated Date
    02.05.18
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    02.05.18
    File Size
    2 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Associate Auctioneers
DPL Chartered Surveyors & Property Investment Advisors 11 Elmbank Street
Glasgow
G2 4PB
Derek Paterson 01412 295 393derek@g-pltd.co.uk
Seller's Solicitors
MacRoberts Capella, 60 York Street
Glasgow
G2 8JX
0141 332 8886
Kelsey Gibson 0141 303 1149kelsey.gibson@macroberts.com

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