SHEPHERD Chartered Surveyors is offering a car showroom investment opportunity in Kirkcaldy, Fife.
Prominently positioned on Caxton Place within Mitchelston Estate, the main commercial location within Kirkcaldy, a ten-minute drive from the town centre, the 16,460 sq ft modern showroom and workshop is let to Specialist Cars (Aberdeen) with a guarantee from John Clark (Holdings) on a Full Repairing and Insuring lease running until January 2026 on a passing rent of £117,500 per annum.
The property comprises a detached showroom facility, which benefits from full height glazing, with associated service and body workshop, with office accommodation contained within the showroom.
Externally, there is a service yard and car parking to the side and rear elevations whilst, to the front, there is a substantial surfaced area for external car sales display.
Neighbouring occupiers include a number of similar car dealerships, including Arnold Clark, Peter Vardy and Brenwood Motor Company.
Jonathan Reid, commercial surveyor at Shepherd’s Kirkcaldy office, said: “We are instructed to seek offers in excess of £1.75 million. A purchase at this level would reflect a net initial yield of 6.35 per cent after allowing for purchaser’s costs of 5.8 per cent.
“Initial enquiry levels have been positive and we expect to set a closing date for offers in the next few weeks.”
For further information please contact Jonathan Reid, Shepherd tel 01592 205442
Issued on behalf of Shepherd by Liquorice Media tel 0141 561 4018 www.liquorice-media.com
Date 19th July 2011.
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