Lot 1l

Guide Price: £106,500 - Bid Now

89-91 High Street, Kellys Bar, Dundee, DD2 3AT


Key Features:

Iconic WELL ESTABLISHED Investment CORNER SITE LET AT low rent £11,440 PER ANNUM - New 5 Years FRI Lease EXTENSION (established public house property + function suite for OVER 25 YEARS) NEW LEASE from 15 October 2016 until 14th October 2021 Personal name of tenant (established public house) over 2 FLOORS ***WALK IN CONDITION***


  • Kelly’s Bar is subject to a new lease for 5 YEARS *been a well established pub for over 25 years* NEW LEASE from October 2016. ***TRADED AS A PROFITABLE PUB FOR OVER 25 YEARS*** New lease in personal name of tenant at £11,440 per annum Oct 2016 to Oct 2021 **Long term re-development potential as CORNER BUILDING*** Low rent. ALL RENT MADE ON TIME AND PAID TIME-OUSLY.
  • Super trading location at corner site close to Betfred, LLYODS Pharmacy, Baynes the Bakers, William Hill, Greggs. ***TENANT PERSONALLY LIABLE FOR RENT /LEASE OBLIGATIONS.*** The lease is on tenants full repairing and insuring terms. Prominent CORNER site WELL FITTED OUT.
  • ***HASSLE FREE INVESTMENT*** Attractive lounge bar/function suite. TRADED AS A PUBLIC HOUSE FOR OVER 25 YEARS. ESTABLISHED Corner Site and excellent trading spot. Service delivery is directly to the rear of the premises.
  • NEW ENTRY - Prime Let Pub Investment

Description:

Iconic WELL ESTABLISHED Investment CORNER SITE LET AT low rent £11,440 PER ANNUM - New 5 Years FRI Lease EXTENSION (established public house property + function suite for OVER 25 YEARS) NEW LEASE from 15 October 2016 until 14th October 2021 Personal name of tenant (established public house) over 2 FLOORS ***WALK IN CONDITION*** Kelly’s Bar is subject to a new lease for 5 YEARS *been a well established pub for over 25 years* NEW LEASE from October 2016. ***TRADED AS A PROFITABLE PUBLIC HOUSE FOR OVER 25 YEARS*** new lease in personal name of tenant at £11,440 per annum Oct 2016 to Oct 2021 **Long term re-development potential as CORNER BUILDING*** Low rent. ALL RENT MADE ON TIME AND PAID TIME-OUSLY. The lease is for a term of 5 years and the tenant has an option to extend for a further 5 years. The tenant is a private individual. ***TENANT PERSONALLY LIABLE FOR RENT /LEASE OBLIGATIONS.*** The lease is on tenants full repairing and insuring terms. Prominent CORNER site WELL FITTED OUT. ***HASSLE FREE INVESTMENT*** Attractive lounge bar/function suite with fixed back seating and loose timber tables and chairs. The premises have been painted externally. Service delivery is directly to the rear of the premises. IDEAL LONG TERM HASSLE FREE INVESTMENT LET AT LOW RENT FREE OF TIE RENTAL POTENTIAL £14-£15,000 PER ANNUM (long term rental growth potential). Super investment opportunity and long term could be split to multiple units with upper floors INCLUDED IN THE SALE. Glasgow 80 minutes and Edinburgh only 36 miles. --Super condition.-- IDEAL HASSLE FREE INVESTMENT PURCHASE.

Location:


Kelly’s bar is situated within the core commercial centre of Lochee, a suburb of Dundee city centre junction of Burnside Street and High Street. Surrounding occupiers include Farmfoods, Lidl and Betfred. Seating is provided for approximately 30 person from loose timber tables and chairs, supplemented by high bar stools. Ladies, gents and accessible toilet. Stores approximately 30 persons. There is a pool table and timber bar servery. ***IDEAL INVESTMENT OPPORTUNITY.*** FRI LEASE TENANT PAYS ALL BILLS AND established operator.

Rateable Value:


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Ownership & Occupation:


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 5 yEARS
Rent £11,440 per year / £953 per month
Yield 10.7% (at guide price)
Tenant Private Individual
Notes: CORNER SITE LET AT low rent £11,440 PER ANNUM - New 5 Years FRI Lease EXTENSION

Guide Price: £106,500 - Bid Now


Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set no more than 10% above or below the advertised guide price.

Bid Now Explained:


You may submit an offer now on any of our live properties for the sellers 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.











Internal Open Viewings:


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime:


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.


















Offer Now:

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person:

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live:

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy: (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form







  • Auction Date:

    13 June 2018


  • Start Time:

    7.00pm


  • Auction Location:

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions:


View a Map & Directions to the Auction Venue.
Glasgow Radisson | Edinburgh Marriott


Registration:

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs:

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits:

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method:

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.