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2 Miller Rd 2,945 SF Office Condo Unit Offered at $299,788 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.
PROPERTY FACTS Sale Pending
| Total Building Size | 3,945 SF | Typical Floor Size | 1,315 SF |
| Property Type | Office (Condo) | Year Built | 1936 |
| Building Class | C | Lot Size | 0.11 AC |
| Floors | 3 |
| Total Building Size | 3,945 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 3 |
| Typical Floor Size | 1,315 SF |
| Year Built | 1936 |
| Lot Size | 0.11 AC |
AMENITIES
- Kitchen
- Storage Space
- Demised WC facilities
- Partitioned Offices
1 UNIT AVAILABLE
Unit 1st & 2nd Floor
| Unit Size | 2,945 SF | Sale Type | Investment |
| Price | $299,788 | Tenure | Freehold |
| Price Per SF | $101.80 | Cap Rate | 12.44% |
| Condo Use | Office | NOI | $37,306.97 |
| Unit Size | 2,945 SF |
| Price | $299,788 |
| Price Per SF | $101.80 |
| Condo Use | Office |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 12.44% |
| NOI | $37,306.97 |
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.
MAJOR TENANT INFORMATION
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Ayshire Womens Hub CIC |
1,634 SF
|
September 2027
|
Presented by
2 Miller Rd
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