• Let to Arthur J Gallagher Insurance Brokers Ltd – Net worth £61M

• New 15 year FRI lease from September 2017

• Fully refurbished highly specified building

• Initial rent £71,423 per annum with fixed uplift in Year 5 to £79,994 per annum

• Offers in excess of £850,000, subject to contract

• Attractive net initial yield of 7.99%

The subject property is located on the east side of High Street, a short distance north of its intersection with Bridgegate & Bank Street, within the heart of Irvine town centre.

Irvine Town Centre has and continues to benefit from significant investment mainly from North Ayrshire Council and Irvine Bay Regeneration. The subject property is located 100 yards north of the award winning £2.2M Bridgegate public realm project as well as Bridgegate House, an £8.5M office refurbishment and home to North Ayrshire Council’s Customer Centre. Heading south-east beyond the Bridgegate is the “Portal”, a £20M culture, community and leisure centre built in 2017.

The subjects comprise a traditional mid-terraced building of stone construction with an extensive single storey flat roof extension at ground floor level. Externally the subjects have been fully refurbished, a new roof has been installed on the original section and the extension has been fully re-felted. 6 secure car parking spaces are found to the rear accessed via electric gates off a large public car park providing additional spaces.

Internally the accommodation provides open plan retail/office accommodation at ground level with additional well-fitted offices at first floor level and board room/meeting facilities on the second floor. New male and female toilet facilities along with kitchens have been installed at ground and second floor level.

The accommodation has been fully refurbished internally to a high standard by the landlord, to the tenant’s specification and includes new suspended ceiling grids with LG7 compliant lighting, comfort cooling, MVHR heating system and perimeter trunking.

Class 2 Consent of the Town and Country Planning (Scotland) Act 1997.

Heritable (Scottish equivalent of English freehold).

Arthur J Gallagher Insurance Brokers Ltd (SC 108909) has reported the following trading figures;

Arthur J Gallagher Insurance Brokers Ltd are a global insurance broker, risk management services and consulting firm operating in 34 countries worldwide. They have an extensive network of UK offices in more than 50 locations with in excess of 4,500 employees. The Irvine office opened approximately 29 years ago and we understand is one of the best performing local offices in the country with 45 employees.

For further information please visit www.ajg.com.

Our clients have elected to waive exemption for VAT and accordingly VAT will be payable on the purchase price, although we anticipate the sale will be dealt with by way of a TOGC.

1. Let to Arthur J Gallagher Insurance Brokers Ltd – Net worth £45.5M;

2. New 15 year FRI lease from September 2017;

3. Building has been completely refurbished with warranties and guarantees available;

4. Fixed 12% uplift at first rent review to £79,994 per annum;

5. Offers over £850,000, subject to contract;

6. Attractive net initial yield of 7.99% and reversionary yield of 8.95%.