Heathfield Road, Ayr, KA8 9TB

B&Q - Ayr

Asset description

Ayr is one of Scotland’s largest towns and the principal retail centre for the southwest of Scotland.
Located approximately 30 miles southwest of Glasgow and 12 miles southwest of Kilmarnock, Ayr has a catchment population of more than 180,000 people.
The property occupies a prominent and easily accessible position on Heathfield Road (B743), 1.5 miles northeast of Ayr town centre.
Modern retail warehouse unit, extending to 42,056 sq ft, with an external garden centre, service yard, and forecourt parking area accommodating approximately 240 cars.
Total site area of approximately 4.39 acres (1.78 hectares), reflecting a very low site coverage of approximately 22%.
Sits within a significant retail cluster that includes Heathfield Retail Park, providing a combined 142,000 sq ft of retail warehousing and an Asda superstore spanning a further 74,600 sq ft.
Neighbouring occupiers include Travis Perkins, Screwfix, Toolstation, The Range, and an M&S Foodhall.
Excellent transport links include direct road connections to Glasgow and close proximity to Ayr Railway Station.

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Asking price

CA$12,233,000

Investment strategy

Core

Remaining lease term

15.2 years

Building area gross

3,907 sm

Occupancy

100%

EPC

Grade B

Fully let to B&Q Limited on FRI terms, expiring 31st January 2040, providing a term certain of 15.2 years.
B&Q is the UK’s leading home improvement and garden living retailer, serving more than 20 million customers per annum.
Highly committed tenant in occupation since 1997, having recently regeared and extended their lease, adding two further 10-year options to extend from expiry.
Passing rent of £520,000 per annum, equating to £12.36 per sq ft.
The rent is subject to upwards only open market rent reviews on 01/02/2030 and 01/02/2035 respectively, capped at 2.5% compounded increase per annum.
Heritable Interest.
EPC B (27).
We are instructed to seek offers in excess of £6,950,000 (Six Million, Nine Hundred and Fifty Thousand Pounds Sterling) exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.02% allowing for standard purchasers costs based on LBTT.