13th May 2014 back to news

Booker Cash & Carry in Ayr sold by Graham + Sibbald

Ayr warehouse sale concluded
•    Booker Cash & Carry in Ayr sold by Graham + Sibbald
•    Sale price of £1,473,000 achieved

The property investment sale of the Booker Cash & Carry warehouse in Ayr was recently concluded by Graham + Sibbald on behalf of a private individual.

The property attracted significant interest from private investors, property companies and funds with UK wide requirements for strong covenant and yield.

Sandy Gilmour, Investment Specialist at Graham + Sibbald, commented: “This property was sold in less than three months.  We are delighted to achieve a price that is 19% above the asking level.  Care was taken to appropriately research the property, lease and background prior to sale, with local market assistance from Fraser Lang, our G+S Partner in Ayr, and pre-sale discussions with the solicitors acting for the vendor Wright Johnston MacKenzie & McNulty & Co.

“The strong covenant of Booker and the care and attention they show as tenants to the premises was a key factor in achieving the price.  We are grateful to the assistance provided throughout the campaign by Booker’s staff and estates team which can often be overlooked.

“We have further sales in the pipeline across Scotland, so interested parties should keep an eye on our website and call to register on our investor database.”

The large warehouse, approximately 40,229 sq ft, is of steel frame construction and is leased to Booker until 2021.  Booker Wholesale is the UK’s largest wholesale operator.

Graham + Sibbald acted as the selling agent and recently opened a new office in Ayr to complement the firm’s presence in Kilmarnock and bring the total number of offices to 14.

EY&CO and Andrew Reilly Associates were purchasing agents on behalf of a private investor.