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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

1,300sq ft Long Established Public House. Fully Refurbished Busy & Free of Tie Investment. VAT Free. Expiry: Feb 2033 Tenant In Situ Since 2015. Passing Rent: £12,000P/A. Fixed Increase to £15,000P/A

situated on the South side of Westmuir Street, opposite its junction with Back Causeway within the Parkhead area of Glasgow.

The area is one which is densely populated with the benefit of a variety of commercial retailers along with office & professional businesses.

The property forms a mid terrace ground floor public house set within a larger 4 storey tenemental development surmounted by a pitched roof.

The property has been renovated by the tenant recently to incorporate new flooring, perimeter bench seats along with loose tables and chairs.

The property forms a mid terrace ground floor public house set within a larger 4 storey tenemental development surmounted by a pitched roof. The property has been renovated by the tenant recently to incorporate new flooring, perimeter bench seats along with loose tables and chairs. A new beer garden has been installed with canopy, new tiles, bench seating and external heaters. A small office and cellar are situated to the rear of the main bar servery, with w.c’s accessed from the main bar area. The bar is free of tie, with the tenant operating a number of other units and long established within the trade. We understand that this location has a strong regular customer base which does not rely solely on intermittent football business. Area The property extend to the following floor area: 120.77sqm (1,300sq ft)

The subjects are situated on the South side of Westmuir Street, opposite its junction with Back Causeway within the Parkhead area of Glasgow. The area is one which is densely populated with the benefit of a variety of commercial retailers along with office & professional businesses. The area benefits from excellent public transport links with a plethora of bus stops on each roadside along with being close to the Parkhead Forge Shopping centre. Neighbouring occupiers include Public House, Parkhead Off Licence, Turnbull McCarron Solicitors & Parkhead Health Centre.

Full Address: 174 Westmuir Street, The Waiting Room, Parkhead, Glasgow, G31 5BS

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 5th Feb 2033
Rent: £12,000 per year / £1,000 per month
Yield: 12% (approx)
Tenant: Private Individual
Notes: Tenant: Personal Name (in-situ since 2015) Expiry: 5th Feb 2033 Passing Rent: £12,000per annum Fixed Increase to £15,000per annum Rent History: The tenant has an excellent track record of rent payments, including during lockdown.

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Pricing Information & Bidding

Opening Bid: £98,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.

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Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £1,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Buy Now Price = £115,000

Please use our BUY NOW form to secure this property now. Once you submit the form we will send you an invoice and payment details so you can make the necessary deposit payment to proceed with the purchase.

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Auction Details

Date & Time: 16 May 2024, 10am-3pm
Type: Timed Online Auction

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