Commercial property for sale in Burns Statue Square, Ayr KA7

Offers over £315,000
Commercial property for sale
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Property description

Union Arcade is a detached two storey property with a single storey extension containing four shops on its ground floor and an 8 bedroom HMO on the first floor.

The shops are individually rated, which offer the occupiers 100% rates relief.

The first floor consists of two ‘flats’, one providing four individual rooms and the other, five rooms, each ‘flat’ with shared bathrooms and kitchens.

Please note that a single shop unit on the ground floor of the building is held outwith our clients ownership.

The four shops are fully let at present producing a combined rent of £14,840pa. Further details are noted on the attached brochure.

The HMO is fully let at present on AST agreements at rates of £240 and £325 per month, producing an annual income of £26,100.

The total gross income is £40,940 per annum.

Offers over £315,000 are invited, which is a net yield of 12.6%. The price is quoted exclusive of VAT although we would envisage a sale transacting as a togc.

EPC available upon request.

Each party to be responsible for their own costs incurred.

LocationUnion Arcade is located just off Burns Statue Square, an historic square and a focal point within Ayr Town Centre acting as the entry point to the main shopping area from the south of the town, close to Ayr railway station, the business district and a host of licensed/leisure venues including an Odeon cinema.

The surrounding area is subject to regeneration including the development of a new leisure centre nearby and consultation on a new transport hub, which will increase footfall in the area.

There is parking nearby on Burns Statue Square and Kyle Street, a short walk from the property. A new flatted development is proposed in front of the property.

Property info

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For more information about this property, please contact
DM Hall LLP, KA7 on +44 1292 373981 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by DM Hall LLP, and do not constitute property particulars. Please contact DM Hall LLP for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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