Description
The property will comprise a new build single storey retail terrace extending in total to 4,200 sq ft (GIA). The building is of steel frame construction beneath a mono pitched roof with brick elevations.
Externally the whole site extends to 0.85 acres and there is pedestrian and vehicular access from Turnpike Way, with parking spaces for 30 vehicles.
The property was granted planning consent in April 2025 (ref: 24/00527/PP).
Practical completion of the development is scheduled to take place in October 2026. A full suite of warranties will be available to the purchaser.
Ground Floor GIA
Unit 2 -111.5 m² (1,200 ft²)
Unit 3 - 92.9 m² (1,000 ft²)
Unit 4 - 69.7 m² (750 ft²)
Unit 5 - 116.3 m²(1,250 ft²)
Total - 390.2 m² (4,200 ft²)
Tenancy details available upon request. The terrace is fully pre-let to Indigo Sun, Speed Queen Launderette, a Pharmacy and a a Barbers, producing a combined rent of £106,250 per annum on a mix of 10 and 15 year, FRI leases.
We are instructed to seek an offer of £ 1,330,000 (one million three hundred and thirty three thousand pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive Net Initial Yield of 7.54% after allowing for purchasers costs of 6.41%.
The property is VAT registered therefore VAT will be payable on the purchase price unless the transaction is instead treated by way of a Transfer of a Going Concern (TOGC).
EPCs will be available upon completion of construction.
Location
Irvine is a coastal town and is the administrative centre of the North Ayrshire region on the West Coast of Scotland, overlooking Irvine Bay and is part of the larger historic county of Ayrshire.
Irvine lies around 26 miles (42km) southwest of Glasgow and is a popular commuting town, lying at the convergence of the A78, A71 and the A736, just north of Montgomerie Park, with a drive time of around 50 minutes to the City Centre.
Irvine railway station, only 4 miles (6km) southwest of the development, has fast and frequent rail services to Glasgow and Ayr.
Irvine has a growing population with over 34,000 persons with the population within a 2mile (3km) radius of the development estimated at around 20,000 persons.
Montgomerie Park, Irvine is a modern residential area and a large housing development located on the north-east side of Irvine. It is one of the town’s newer neighbourhoods and has been developed since the 2000s.
The area consists primarily of family housing, including a mix of private homes and affordable housing, built by developers such as Bellway and in partnership with North Ayrshire Council and housing associations with a growing population currently estimated at around 2,400 persons.
Montgomerie Park has been planned as a self-contained community, with landscaped streets, open green spaces, sustainable drainage ponds, and local amenities nearby.
Montgomerie Park is well connected, with road access via Long Drive and the A736, and lies within 10 minutes’ drive from Irvine town centre, making it popular with families and commuters, including those travelling to Glasgow. It has also been designated as part of a Simplified Planning Zone, allowing for continued residential growth and future development.
