Britton Property.
Now Sold
1-3 Portland Street, Troon KA10 6AA.
Attractive Hot Food Investment – VAT Free Let to DP Realty Ltd t/a Dominos
20 year lease from 24th July 2023 Rent: £25,000 pa rising to £28,000 pa
FRI lease with photographic SOC
Offers over £375,000 are invited
Viewing strictly by appointment with BRITTON PROPERTY
Andrew Britton
T. 07990 505 421
E. andrew@brittonproperty.co.uk
Troon is an affluent coastal town in South Ayrshire and is situated on the west coast of Scotland, about 8 miles north of Ayr and 3 miles north west of Prestwick.
Troon has a population in excess of 14,750 with a further catchment from Ayr and Prestwick. The subject premises are located on Portland Street, the main commercial street within Troon town centre.
The premises occupy a prominent location on the corner of Portland Street and Templehill. Nearby occupiers on Portland St include Savers, Cancer Research, WH Smith, Poundland and Greggs.
The premises comprise the ground floor of a 2 storey building with a private car park at the rear. The premises have been extensively refurbished and fitted out to Dominos high quality specification.
The ground floor extends to the following approximate areas: Ground Floor: 1,431 sq ft / 133 sqm.
Let to DP Realty Ltd on a 20 year FRI lease commencing on 24th July 2023 with tenant break option between the 10th and 11th anniversaries. The tenant has the option to extend the lease for a further 20 years. The passing rent is £25,000pa rising to £28,000pa in years 6-10. There are rent reviews on the 10th and 15th anniversaries to OMV.
Dominos Pizza is an internationally recognised brand, trading in excess of 1,200 units across the UK. DP Realty Ltd (company no. 2882513) reported net assets of £5,671,000 for the financial year end 2022.
Offers in excess of £375,000 are invited. The vendor will top the rent up to £28,000pa. A purchase at this level would reflect an attractive net yield of 7.20%.
On application
Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
Britton Property is a niche, independent retail and leisure consultancy, providing professional and bespoke advice to clients.