26 Main Street, Prestwick

Tenure:Freehold

Location: Prestwick
Address:26 Main Street
Prestwick
KA9 1NX

Area:1,014.5 Sq M

Gregor Brown
T: +44 (0)141 227 2375
E: [email protected]

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Property details

  • Extensive retail premises with large dedicated car park located on prime section of Main Street, Prestwick
  • Let to B&M Retail Ltd (5A1)
  • New 10 year FRI lease from April 2018
  • Passing rent of £90,000 per annum (£8.24/sq ft overall)

 

  • We are instructed to seek offers in excess of £1,200,000 (One Million Two Hundred Thousand Pounds) exclusive of VAT.  A purchase at this level would show an attractive net initial yield of 7.11% allowing for purchasers costs of 5.33% including LBTT (Land and Buildings Transaction Tax).

Prestwick is an affluent commuter town located in the South Ayrshire Local Authority region approximately 3.2 miles north of Ayr, 10 miles south-west of Kilmarnock and 32 miles south-west of Glasgow.

Well located for access to the M77 motorway that provides direct access to Kilmarnock, Glasgow City Centre and Ayr.

Excellent rail links are provided with regular daily services to and from Glasgow Central Station with an average travel time of approximately 40 minutes.  Prestwick International Airport is also located nearby just 1 mile north of the subjects.

  • 1,014 - 1,014 Sq M
  • 10,920 - 10,920 Sq Ft
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Class 1 Consent of the Town and Country Planning (Scotland) Act 1997.

The subjects are let to B&M Retail Ltd on a straight 10 year lease from 9th April 2018.  The lease is subject to an upward only open-market review on 9th April 2023 subject to a maximum 10% uplift to £99,000 per annum.  B&M were granted 6months rent-free from the date of entry followed by 24 months at half-rent.