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Burns Mall, Kilmarnock, KA1 1LT

Availability

For Sale

Price

£2,850,000

Description

Investment Opportunity - Dominant, Community Shopping Centre

Key Points

  • Kilmarnock is the largest town in East Ayrshire and serves as the administrative centre for the East Ayrshire Council.
  • Burns Mall is the dominant retail offer in Kilmarnock.
  • Large inward investment from East Ayrshire Council utilising £20m from UK Government’s Levelling Up Fund with exciting projects identified.
  • The centre comprises approximately 179,804 sq ft (16,704 sq m) of retail accommodation.
  • Anchored by JD Sports, Home Bargains and New Look with a number of popular national multiples present including Greggs, Boots, Shoe Zone, 3 Store, CEX and Farmfoods.
  • Long leasehold (circa 80.5 years unexpired).
  • WAULT of 1.92 years to expiry.
  • Current gross income of £877,914 pax (including turnover rents).
  • Affordable annual rents.
  • Various asset management opportunities to improve the NOI.
  • We are instructed to seek offers in excess of £2,850,000, reflecting an attractive net initial yield of 15% and low capital value of £15.85 psf.
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Get in Touch

See Bio
Patrick Over Partner

Patrick is a Partner in the Investment Department, having joined in September 2023. Prior to this Patrick worked at Green & Partners in London where he was a Partner in the Investment Department focusing on the high street, retail warehouse, leisure and supermarket sector.
Today, Patrick is directly involved in the acquisition, disposal and funding of a wide variety of assets, across the UK, working closely with a diverse selection of clients encompassing major UK institutions and pension funds, property investment and development companies, high ‘net worth’ investors and private equity groups.
Outside of work, Patrick has a keen interest in fitness, golf, rugby and skiing.

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Gregor Martin Partner

Gregor joined the business 11 years ago from Kenmore Property Group. He is a partner in the Investment team, where he advises on commercial property investment transactions throughout the UK, with particular emphasis on retail, office and industrial assets in Scotland. He acts on behalf of a variety of clients including private investors, property companies, banks and institutional funds.
You'll find Gregor out walking a lot, either with a dog or a set of golf clubs, if not both.
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Duart Keith Partner

Duart joined EYCO in 1995 having spent the previous 4 years based in Glasgow with James Barr & Son and Grimley JR Eve. He is a partner and heads up the Investment team. He advises on retail warehousing throughout the UK, as well as more local retail, business and office investment transactions.
Duart is a keen runner (often out with his dog), skier and rugby enthusiast.
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Ruari Hobkirk Graduate Surveyor

Ruari joined EYCO in 2022 as a Graduate Surveyor after graduating from Oxford Brookes University with a degree in Property Development and Planning. Ruari is on rotation but currently working in the Retail Agency team assisting on a range of High Street and Shopping Centre instructions. Outside of work Ruari has a keen interest in rugby, golf, and skiing.

Meet the team