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93-97 Portland St 702 sq ft Retail Unit Offered at £130,000 in Troon KA10 6QU
Investment Highlights
- Take Away Unit
- Expiry October 2035 (With Option To Extend)
- Fixed Increase in 2027 to £13,000p.a.
- Held on F.R.I Lease on Personal Name
- Passing £12,000p.a.
- Price: £120,000
Executive Summary
The property comprises a building of traditional construction arranged over two floors with retail accommodation on the ground floor and residential above.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Freehold |
| Net Initial Yield | 9.23% |
| Sale Type | Investment |
| Net Initial Yield | 9.23% |
| Tenure | Freehold |
Description
The ground floor commercial space is fitted as a chinese take away, with customer servery to the front, partitioned pitching within the middle of the = property and rear stores, w.c and prep area within a single storey extension to the rear.
The property has been extensively renovated by the tenant.
The property has been extensively renovated by the tenant.
Sale Notes
The property is held on a full repairing and insuring head lease on a personal name expiring 30th October 2035, with a tenants break option on 31st October 2030. The tenant has an option to extend the lease for a further 10years. The current passing rent is £12,000p.a. with a fixed increase to £13,000p.a. from 31st October 2027. There are rent review cycles every 5th year (next October 2030). The landlord holds a deposit of £1,500.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit 93 | 702 sq ft | Retail | £130,000 (£185.19/sq ft) | £12,000 |
Unit 93
| Unit Size |
| 702 sq ft |
| Unit Use |
| Retail |
| Price |
| £130,000 (£185.19/sq ft) |
| NOI |
| £12,000 |
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Unit 93
| Unit Size | 702 sq ft |
| Unit Use | Retail |
| Price | £130,000 (£185.19/sq ft) |
| NOI | £12,000 |
| Sale Type | Investment |
| Net Initial Yield | 9.23% |
| Tenure | Freehold |
| Description | |
| The ground floor commercial space is fitted as a chinese take away, with customer servery to the front, partitioned pitching within the middle of the = property and rear stores, w.c and prep area within a single storey extension to the rear.<br> <br> The property has been extensively renovated by the tenant.</li></ul> | |
| Sale Notes | |
| The property is held on a full repairing and insuring head lease on a personal name expiring 30th October 2035, with a tenants break option on 31st October 2030. The tenant has an option to extend the lease for a further 10years. The current passing rent is £12,000p.a. with a fixed increase to £13,000p.a. from 31st October 2027. There are rent review cycles every 5th year (next October 2030). The landlord holds a deposit of £1,500.</li></ul> |
Property Facts
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 | 1,170 sq ft | Floors | 3 |
| Property Type | Retail (Unit) | Typical Floor Size | 1,170 sq ft |
| Property Subtype | Shopfront Retail / Residential | Year Built | 1900 |
| Costar Property Class | C | Total Plot Size | 0.05 ac |
| Total Property Size | 1,170 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | C |
| Floors | 3 |
| Typical Floor Size | 1,170 sq ft |
| Year Built | 1900 |
| Total Plot Size | 0.05 ac |
Amenities
- Storage Space
1 1
Nearby Major Retailers
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93-97 Portland St
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