Secure Retail Investment

39 King Street | Kilmarnock | KA1 1PT


subject to contract



  • Let to Ramsdens Financial Limited – Total Assets £24m

  • Lease until October 2022 – Over 5 years unexpired

  • 2017 break option not exercised – Tenant has been in occupation since 2012

  • Shop recently re-fitted by tenant

  • Offers in excess of £200,000, subject to contract

  • 9.26% net initial yield

39 King Street | |  |  | Kilmarnock | | KA1 1PT


Kilmarnock is the principal centre for East Ayrshire with a resident population of approximately 44,000. The town is located approximately 32 km (20 miles) south west of Glasgow and 24 km (15 miles) north east of Ayr.

The town benefits from good road communications and is served by the M77 Motorway approximately 6.4 km (4 miles) to the north-east. In addition, the town lies at the intersection of the A71 which runs from Edinburgh to Irvine, the A76 from Dumfries and the A77 from Stranraer to Glasgow. The town is connected to the national railway network with a fastest journey time to Glasgow Central of approximately 35 minutes. Glasgow International Airport is approximately 37 km (23 miles) to the north.


The property is situated on the west side of King Street within the heart of Kilmarnock town centre. King Street is the principal retail thoroughfare within the town, with a large section of the street being pedestrianised, supported by Burns Mall shopping centre. The property is located within the pedestrianised section alongside a number of national multiple retailers including Marks & Spencer, Boots, W H Smith, Superdrug, Specsavers, New Look, Card Factory and Vodaphone. The Town Centre is well-served by car parks with Sturrock Street car park directly opposite.

Stewart Amusements Ltd have agreed a new 5 year lease at 41 King Street (immediately next door to the subjects), with entry at the end of September 2017.

39 King Street | |  |  | Kilmarnock | | KA1 1PT
39 King Street | |  |  | Kilmarnock | | KA1 1PT


The property comprises a single storey mid-terraced building of brick construction with flat bitumen felt roof. The retail unit has a modern aluminium framed display frontage with recessed entrance and modern fascia.

Internally, the unit has recently been re-fitted by the tenant to their latest corporate style and comprises an open plan sales area with a counter and rear storage/staff area. The specification includes a suspended ceiling with fluorescent light and air conditioning / comfort cooling.


We are advised that the unit comprises the following floor area:

Ground Floor 42.36 sq m 456 sq ft
ITZA 39.86 sq m 429 sq ft


39 King Street | |  |  | Kilmarnock | | KA1 1PT
39 King Street | |  |  | Kilmarnock | | KA1 1PT


Heritable (Scottish equivalent of English freehold)


The property is let on a Full Repairing and Insuring lease to Ramsdens Financial Limited for 10 years from 15th October 2012 expiring on 14th October 2022. The tenant had an option to break the lease on 14th October 2017 which has not been exercised.

The passing rent is £19,000 per annum and there is a rent review on 14th October 2017.

The current passing rent reflects a Zone A of £44.29 per sq. ft.

39 King Street | |  |  | Kilmarnock | | KA1 1PT
39 King Street | |  |  | Kilmarnock | | KA1 1PT


Ramsdens Financial Limited has reported the following trading figures;

  31st March 2017 31st March 2016
Total Income £34,516,000 £29,978,000
Pre-Tax Profit £4,156,000 £3,403,000
Total Assets £24,390,000 £23,640,000

Established in 1987, Ramsdens has over 120 branches throughout Northern England, Scotland and Wales. As well as offering traditional pawn broking services, the successful introduction of buying gold, silver, mobile phones, tablets as well as the sale of foreign currency, jewellery and watches has seen Ramsdens develop into a recognised and trusted high street retailer. For further information please visit


The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

39 King Street | |  |  | Kilmarnock | | KA1 1PT
39 King Street | |  |  | Kilmarnock | | KA1 1PT


Our client is seeking offers in excess of £200,000 (Two hundred thousand pounds), subject to contract, reflecting a net initial yield of 9.26%, after allowing for standard purchaser’s costs of 2.55%.

Investment Considerations

  1. Opportunity to acquire a secure town centre retail investment;

  2. Let to the strong covenant of Ramsdens Financial Limited – Total Assets £24,390,000;

  3. 2017 break option not exercised demonstrating the tenants commitment to the property;

  4. The investment provides an ideal lot size for private investors and SIPP purchasers.

39 King Street | |  |  | Kilmarnock | | KA1 1PT

Contact Us

Singer Vielle   +44 (0) 207 935 7200
Graham Waddell +44 (0) 141 221 4545
Neil Singer +44 (0) 203 478 9120
Dale Henry +44 (0) 203 701 1356
Richard Wolfryd +44 (0) 203 701 1353
Faye Langoulant +44 (0) 203 478 9122
Louanne Malan +44 (0) 203 701 1386

Vendors Solicitor

Holmes MacKillop +44 (0) 141 226 4942
Kevin Thompson