FOR SALE BY ONLINE AUCTION WEDNESDAY 26TH OF FEBRUARY 2025 AT 9AM - ***GREAT INVESTMENT OPPORTUNITY AT 2A CENTRAL AVENUE, KILMARNOCK***HIGH YIELDING RETAIL PROPERTY CURRENTLY OPERATING AS FEENEY'S DELI***RENTAL INCOME IS £4,800 PER ANNUM (12% YIELD BASED ON GUIDE PRICE)***
***2A CENTRAL AVENUE***
***SIZE***- AREA OF 31.73 SQ M (342 SQ FT)
***2A Central Avenue is let on a 10 year FRI lease that commenced in May 2024 at a rent of £4,800 per annum (12% yield based on guide price). On the 5th anniversary of the lease there is a lease break option and the rent is subject to an open market rent review.
***INVESTMENT HIGHLIGHTS*** - This property offers a secure income stream with a long-term lease in place, making it an attractive proposition for investors seeking a low-risk addition to their portfolio. The established operation of Feeney's Deli ensures continued patronage, and the property's strategic location within Kilmarnock's commercial landscape underscores its investment potential.
The subjects comprise a cafe within a single storey building of masonry construction which sits under a flat roof. The property is accessed via a single aluminium framed and glazed door. Internally, the cafe benefits from a commercial extraction canopy and is fitted out with the necessary fixtures and fittings required
to operate as a cafe. Staff welfare facilities are to the rear with a waiting area for customers to the front.
The ceilings incorporate fluorescent strip lighting. The walls are finished in plaster/paint with splash backs at various locations. The flooring is covered with commercial laminate. There is no gas supply to the property and space heating is provided electrically. Ample free parking is available to the front of the
property.
***NEARBY RECENT RESIDENTIAL PROPERTY SALES***
- 55 Margaret Parker Avenue, Kilmarnock, KA1 2NR - SOLD Nov'24 - £190,000
- 3 Calder Place, Kilmarnock, KA1 3QL - SOLD Nov'24 - £140,000
- 2 Broomhill Road West, Kilmarnock - SOLD Nov'24 - £120,000
***PRIME LOCATION***The property is located to the south of Shortlees Crescent immediately at its junction with Central Avenue, in the Shortlees area of Kilmarnock. The situation of the subjects benefit from being at the centre of a densely populated residential area. The main arterial road (Ayr Road), which passes through the centre of Kilmarnock takes less than one minutes’ drive to reach. Nearby occupiers include Shortlees Post Office, Cod Father and Kayani News***Strategically situated in a vibrant area of Kilmarnock, the property benefits from a steady flow of local clientele and offers convenient access to nearby amenities. The established tenancy and long lease term make this an attractive proposition for investors seeking a stable and profitable addition to their portfolio.***
***Kilmarnock was ranked in the top 10 places to live in Scotland***
***Kilmarnock is situated in East Ayrshire and serves as the main administrative centre of the Council. The town sits approximately 23 miles south west of Glasgow, 15 miles north east of Ayr and can be accessed by the main arterial route of the M77 motorway linking both Glasgow City Centre & Prestwick International Airport with the local areas making Kilmarnock a popular commuter district***
***The town has a population of roughly 46,970 with a strong tenant base. With the nearby Kilmarnock campus of Ayrshire College and the University of the West of Scotland in the neighbouring town of Ayr, there will be plenty of students looking for accommodation.***
***The town's heritage is proudly displayed in landmarks such as the majestic Dean Castle, while the local cultural scene is rich, offering experiences that rival those of larger cities. The town is also graced with verdant spaces like Kay Park, which provide idyllic settings for leisure and family activities. For those seeking a location with charm, a strong sense of community, and a vibrant spirit, Kilmarnock is an excellent choice.***
GUIDE PRICE - £40,000
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* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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