Retail premises for sale in Titchfield Street, Kilmarnock KA1

The subjects comprise a ground floor retail unit within a three storey traditional red sandstone building. The roof is pitched and clad in tile. There are offices on the upper floors.

Externally, the shop has a timber glazed frontage under a non-illuminated fascia board and is accessed via a common recessed single pedestrian door which leads into the sales area. Internally, there is open plan retail space which is “L” shaped and incorporates a small office/room. Welfare facilities are provided to the rear of the shop. The floor is covered in laminate and the walls are of plaster/paint. The ceiling incorporates recessed LED spot lighting. There is no gas supply to the property and space heating is provided electrically.

Tenancy
The property is let on a 3 year lease that commenced in October 2023. The passing rent is £6,250 per annum. There are no break options within the lease.

Offers
Offers over £60,000 are invited for our clients’ heritable interest (Scottish equivalent to English Freehold) subject to the lease agreement in place. Based on a rental income of £6,250 per annum, a purchase at this level would reflect a net initial yield of 10.4%.