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Riverway Retail Park, Riverway, Irvine KA12 8AG – Irvine

Retail to let 137,930 sq ft

Cushman & Wakefield
Full address
Riverway Retail Park, Riverway, Irvine, North Ayrshire KA12 8AG – Irvine
Contact details

020 *** ****

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Property type
Shop, retail unit to rent
Rent
Features
Car park, Train transport
Size
137,930 sq ft
Tenure
Freehold
NIY (%)
7.5
Brochure
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Irvine is located in North Ayrshire, Scotland, approximately 52km (32 miles) south west of Glasgow, 14km (9 miles) west of Kilmarnock and 24km (15 miles) north of Ayr.
• Riverway Retail Park is situated to the south west of Irvine town centre, adjacent to the Rivergate Shopping Centre and the town's train station.
• The subject property comprises a purpose built retail warehouse park, extending to 12,814 sq m (137,930 sq ft), configured in a west facing linear terrace with four Class 3 stand alone units arranged around forecourt parking for approximately 630 vehicles.
• The park provides well specified and configured floorspace with eaves heights comfortably able to accommodate mezzanine floors as demonstrated by those in a number of the units. Additionally, the park has seen significant external works recently with a number of fascia rebrands, the phased resurfacing of the car park and improved landscaping.
• Let to 12 occupational tenants including M&S Foodhall, Sports Direct, Homebase, Currys, Home Bargains, Costa Coffee, KFC and Frankie & Benny's. The scheme has a contracted current income of £1,759,369 per annum.
• The scheme provides an average weighted unexpired term of approximately 7 years.
• Recent activity on the scheme includes lettings to Tapi and Costa Coffee, however there remain significant asset management opportunities providing the ability to drive short term and long term performance.
• Multiple offers have been received for both vacant units and further information in relation to this interest is available upon request.
Offers are sought in the region of £25,105,000 (Twenty-Five Million, One Hundred and Five Thousand Pounds) subject to formal missives and exclusive of VAT, for the Freehold interest in this property. A purchase at this level would reflect a Net Initial Yield of 7.50% base on purchaser's costs of 6.25% and a day 1 income of £2,000,605 pa.

This shop, retail unit to rent is located in Irvine.

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