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COMMERCIAL

Bridgegate Square, Bridgegate, Irvine KA12 8BQ

Guide Price
£350,000
SDL Property Auctions, Nationwide
PROPERTY TYPE
Commercial Property

Key features

  • Retail investment
  • Total area 2707.13 sq. m. (29,139 sq. ft.).
  • One of three units let. Rent £15,600 per annum
  • Includes vacant forum shopping centre and nightclub
  • EPC Ratings: G, G and G

Property description

This property remains available and open to offers following the auction on 19 October 2021.
Please contact the auctioneers on for further details.
On behalf of Shepherd Commercial - Ayr

Former Forum Centre together with a Nightclub and Social Club premises

The subjects comprise the former Forum Centre together with a Nightclub and Social Club premises all set within a substantial property formed over two main levels although with lower ground floor storage space. The building is formed around a structural frame with a combination of brick and profile metal sheet finish to walls with profile metal sheet roof. Total area 2707.13 sq. m. (29,139 sq. ft.).

Former Forum Centre A large regular shaped area which was previously sub-divided into approximately 46 separate trading units together with staff and customer toilet facilities, management offices and storage space. Gross internal area 1838.69 sq. m. (19,791 sq. ft.).
Nightclub he Nightclub premises are located at lower ground level accessed via an entrance adjacent to the Forum Centre. The main accommodation includes the dance floor area, adjacent bar and servery together with w.c. facilities and cellarage.
The unit has not traded for a period of time and requires a degree of internal upgrading and redecoration. Gross internal area 252.62 sq. m. (2,719 sq. ft.)
Social Club Premisis Social Club Premises
The Irvine Celtic Supporters Club occupy the premises accessed from Low Green Road the unit is finished to a high standard internally comprising bar area, function room together with private meeting room and associated w.c. and office facilities plus cellarage. The property is well appointed throughout. Gross internal area 615.82 sq. m. (6,629 sq. ft.).
Location: The subjects are located off Bridgegate Square with secondary access from Low Green Road in Irvine town centre.
The town’s prime retailing area, the Rivergate Shopping Centre is adjacent as is the pedestrianised Bridgegate.
Irvine is the principal settlement in the North Ayrshire Council area with a resident population of around 33,600.
Lease Information: One of the units is currently let being the Social Club which is occupied by the Irvine No 1 Celtic Supporters Club with the lease running for a period of 25 years from 23rd December 1999 at a current passing rental of £15,600 p.a.
Investment Considerations: Scope to re-gear Social Club lease
Significant town centre redevelopment opportunity
Potential to generate significant additional rental income from two vacant properties
Prime retailing area
Current Guide price reflects low capital rate of £12.00 per sq. ft.
Note: The buyers fee on this lot is 2.4% including VAT subject to a minimum of £1,600 including VAT.

Tenure: See Legal Pack

EPC Rating: G, G and G

Terms:
Viewings:
To book a viewing, please contact Shepherd Commercial Property Auctions to arrange.
Auction Method:
This auction is for property located in Scotland; therefore, any sale will be governed by applicable Scottish law.
This property is being sold by Shepherd Commercial Property Auctions, facilitated by SDL Property Auctions as auctioneer.
The auction for this property will take place as an "Auction Event" behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- the bidding registration process is detailed below. The auction can be watched in real-time on the auction date through SDL Property Auctions' website on their home page.
The auction date applicable for the property is displayed under the property details section of this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to the Shepherd Buyers Terms (Scotland) which are available to view on SDL Property Auctions' website.

Auction Type - Unconditional Sale
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the legal pack state otherwise.

Auction Fees
The following non-refundable fees apply:
Buyer's Fee- payable on exchange of contracts. This is listed within the property details.
The Buyer's Fee does not contribute to the purchase price.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the legal pack. You must read the Special Conditions carefully before bidding. Any additional fees are included at the seller's discretion and will be in addition to any standard fees payable. The auctioneer has limited control over the content of the Special Conditions of Sale.

Deposit
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.

Payment Method:
Applicable fees must be paid immediately after a winning bid has been placed. Payment by cash or cheque will not be accepted. Prior to the auction, you will receive an email from the auctioneer to register your card details with third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by a representative of the auctioneer to make payment. If you cannot be contacted within 24 hours after the auction ends, the auctioneer reserves the right to charge your card.

Legal Pack
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The legal pack can be viewed via SDL Property Auctions website by searching for the property. Once on the property details page, find the Lot Information section, where there is a sub-heading "Legal pack". Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.

Articles of Roup
The Articles of Roup are the general terms of sale for properties sold at auction in Scotland that will govern this transaction. They are available to view on SDL Property Auctions website.
The Auction Conditions listed on the auctioneer's website do not apply to properties sold under any of the Scottish sale methods.

Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of the standard Shepherd Buyers Terms (Scotland). The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.

Registration Process:
To register to bid on the property, visit the SDL Property Auctions website and submit your remote bid. The lot number can be found against the Lot Details of the property. Prospective bidders must register no later than 12pm the day before the auction date. If you register after the cut-off, it cannot be guaranteed that your registration will be processed.

Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price, is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Brochures

Bridgegate Square, Irvine (1) T202109241059.pdf

Bridgegate Square, Bridgegate, Irvine KA12 8BQ

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Irvine Station0.3 miles
  • Kilwinning Station3.3 miles
  • Stevenston Station3.5 miles

About the agent

SDL Property Auctions, Nationwide

9 Regan Way, Chilwell, Nottingham, NG9 6RZ

SDL Property Auctions is the UK’s most successful live streamed auctioneer, selling hundreds of lots every month in our National Property Auctions and daily Timed Auctions.

At SDL Property Auctions we pride ourselves on being national auctioneers with a personal service, delighting our customers with great results every single month.

We sell a wide range of residential and commercial properties for both private individuals and corporate clients ranging from investment properties,

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Notes

These notes are private, only you can see them.

Disclaimer - Property reference 31924. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by SDL Property Auctions, Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call SDL Property Auctions, Nationwide on 03452 220197.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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