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Description

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

BUSY BOOKMAKER INVESTMENT 1,562 sq ft Ladbrokes sold with tenant in situ and passing rent of £16,100pa FRI Ground Floor Established Trading Unit with lease expiring in 2030 & upwards review in 2025.

Full repairing and insuring terms at a current rent of £16,100 per annum subject to upward only review in March 2020. There is no Schedule of Condition restricting the tenants repairing obligations.

Currently leased to Ganton House Investments Limited, trading as Ladbrokes. Fantastic Commercial Investment with instant revenue and strong tenant.

The premises comprise the ground floor of a three storey traditional tenement style building along with several single storey rear extensions.

Located in a prominent position close to the corner of Gallowgate and Main Streets, close to the centre of the town, the promenade, and the harbour.

Property The premises comprise the ground floor of a three storey traditional tenement style building along with several single storey rear extensions. The upper floors of the building are in residential use. Externally the property has the tenants standard frontage of a full height aluminium framed display window with recessed single entrance door all being surmounted by an externally illuminated fascia board. Internally the property is fitted out in standard ‘Ladbrokes’ style, with a large public area with televisions and gaming machines, a counter and staff area to the rear and customer toilets. The areas which form the rear extension are used for storage. Area We understand that the dimensions and accommodation are as follows: Ground - 145.14 m2 (1,562 sq.ft.) (NIA)

The property is located in a prominent position close to the corner of Gallowgate and Main Streets, close to the centre of the town, the promenade, and the harbour. Surrounding occupiers include Co-op; Costa; and other local and national traders, although the majority of traders are in the licensed and leisure sectors, including the world-famous Nardini’s Ice Cream Parlor and many others Largs, population circa 12,000, is itself a busy seaside town located approximately 30 miles south-west of Glasgow on the main A78 Clyde Coast route. Historically a holiday destination for the industrial West of Scotland towns, it is still geared largely to tourism. The town is served by the Glasgow suburban rail network, and is the terminal for the ferries to Great Cumbrae island.

Full Address: 8 Gallowgate Street, Let Ladbrokes, Largs, Ayrshire, KA30 8AA

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2030
Rent: £16,100 per year / £1,342 per month
Yield: 9% (approx)
Tenant: Company
Notes: The property is currently leased to Ganton House Investments Limited, trading as Ladbrokes, for a term extended to expire on 24th March 2030 on full repairing and insuring terms at a current rent of £16,100 per annum subject to upward only review in March 2020 and 2025. There is a tenant break option as at March 2025 on giving not less than six months prior written notice. There is no Schedule of Condition restricting the tenants repairing obligations.

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Pricing Information & Bidding

Opening Bid: £187,000

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).

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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 = £220,000

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Auction Details

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

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