Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Convenient North Ayrshire location
- Immediate rental income from day one
- Potential for future rent increase
- Global operation tenant in situ
- Fantastic commercial investment opportunity
New to auction is this fantastic tenanted commercial investment property in Irvine, North Ayrshire. Omne House is a modern two storey pavilion office unit within Riverside Business Park and extends to a total floor area of approximately 1700 sq. m (18,300 sq. ft). The accommodation comprises open plan office spaces on ground and first floor levels, with plant rooms on the ground floor. The offices are home to the European Divisional Support Centre of a worldwide lift truck operation, and the company has recently agreed to a Minute of Variation of Lease effective for 5 years from 28 July 2023 with a break option for the tenant in year 3. The passing rental, effective from 28th July 2023, offers immediate income and rental yield of 10.7% (at Guide Price), and the Minute allows for a rent review in July 2026 to further enhance the rental yield being achieved. The currently published Rateable Value is £108,000. The quality of current tenant, allied with immediate rental income, makes this an excellent addition to an existing commercial portfolio, and we expect strong levels of demand. Early expression of interest is strongly recommended. This property is elected for VAT at prevailing rate.
Irvine, in North Ayrshire, is one of Scotland’s New Towns. The High Street is central to the town’s retailing area which offers a wide range of retail and leisure options, with both primary and secondary schooling readily available. Glasgow is around 40 minutes’ drive, and Irvine train station provides a regular rail service to Ayr, Glasgow and further afield.
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