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2 Miller Rd 2,945 sq ft Office Unit Offered at £225,000 in Ayr KA7 2AY
Investment Highlights
- Prominent town centre location
- Office investment
- Includes car park
Executive Summary
The subjects are located in a prominent edge of town centre location at the junction of Miller Road and Killoch Place. The area is one of established commercial use including office, retail and Class 2 occupiers. Ayr is the principal settlement in the South Ayrshire Council area with a resident population of around 46,800. The subjects comprise the upper two floors of a substantial three storey property formed in stone and brick with pitched roof clad in slate and including three car parking spaces within a shared car park to the rear.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Freehold |
| Net Initial Yield | 12.44% |
| Sale Type | Investment |
| Net Initial Yield | 12.44% |
| Tenure | Freehold |
Description
The subjects comprise the first and second floors of the building with access provided via an elevator and staircase. The first floor has a general office, three private office, store room. tea prep area, and wc facilities. The second floor has a general office and two private offices.
Sale Notes
Details of the current leases are as follows:
First Floor:
Vacant
Second Floor – (Suite 1):
Let to Crucible Developments (Scotland) Ltd for a period of 5 years from March 2017 the current passing rental is £9,750 per annum.
Second Floor (Suite 2):
Let to Gilbert Andrew from May 2018 on a short term licence at a rental of £3,000 per annum.
First Floor:
Vacant
Second Floor – (Suite 1):
Let to Crucible Developments (Scotland) Ltd for a period of 5 years from March 2017 the current passing rental is £9,750 per annum.
Second Floor (Suite 2):
Let to Gilbert Andrew from May 2018 on a short term licence at a rental of £3,000 per annum.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit 1st & 2nd Floor | 2,945 sq ft | Office | £225,000 (£76.40/sq ft) | £28,000 |
Unit 1st & 2nd Floor
| Unit Size |
| 2,945 sq ft |
| Unit Use |
| Office |
| Price |
| £225,000 (£76.40/sq ft) |
| NOI |
| £28,000 |
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Unit 1st & 2nd Floor
| Unit Size | 2,945 sq ft |
| Unit Use | Office |
| Price | £225,000 (£76.40/sq ft) |
| NOI | £28,000 |
| Sale Type | Investment |
| Net Initial Yield | 12.44% |
| Tenure | Freehold |
| Description | |
| The subjects comprise the first and second floors of the building with access provided via an elevator and staircase. The first floor has a general office, three private office, store room. tea prep area, and wc facilities. The second floor has a general office and two private offices.</li></ul> | |
| Sale Notes | |
| Details of the current leases are as follows:<br> First Floor:<br> Vacant<br> Second Floor – (Suite 1):<br> Let to Crucible Developments (Scotland) Ltd for a period of 5 years from March 2017 the current passing rental is £9,750 per annum.<br> Second Floor (Suite 2):<br> Let to Gilbert Andrew from May 2018 on a short term licence at a rental of £3,000 per annum.</li></ul> |
Property Facts Sale Pending
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 3,945 sq ft | Typical Floor Size | 1,315 sq ft |
| Property Type | Office (Unit) | Year Built | 1936 |
| Costar Property Class | C | Total Plot Size | 0.11 ac |
| Floors | 3 |
| Total Property Size | 3,945 sq ft |
| Property Type | Office (Unit) |
| Costar Property Class | C |
| Floors | 3 |
| Typical Floor Size | 1,315 sq ft |
| Year Built | 1936 |
| Total Plot Size | 0.11 ac |
Amenities
- Kitchen
- Storage Space
- Demised WC facilities
- Partitioned Offices
1 1
Major Tenant Information
| TENANT | sq ft Occupied | LEASE END DATE |
|---|---|---|
| Ayshire Womens Hub CIC |
1,634 sq ft
|
September 2027
|
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2 Miller Rd
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