***SUPER RENTAL RETURN*** WELL LET Established public house investment 3,494 sq ft (324 sq metres) on busy main thoroughfare. 5 MINUTES TO GLASGOW CITY CENTRE Next to PEUGEOT ASHFIELD STADIUM home to the Glasgow Tigers Speedway Team. *** Let on FRI basis till 2028 rent £52,000 per annum. *** VAT FREE PROPERTY *** PARKING AT THE FRONT FOR 6/7 CARS SUPER 15% INVESTMENT RETURN
- £52,000 PER ANNUM RENTAL ON FRI LEASE (Tenant pays rates/insurance/all bills). Benefits from an alcohol licence (premises licence) which will be transferred to new owner. Use class orders: A4 Drinking Establishments. Well established public house on busy main thoroughfare. Within 10 minutes to Strathclyde Uni and City Centre (popular student area).
- SUPER SIZE. Benefits from good transport links. Popular and well maintained public house and function suite. Let on FRI basis till 2028 rent £52,000 per annum. *** Net initial yield 15%. *** Potential long tern development site subject to consents.
- Gala Bingo and Farmfoods are located a short distance to the west and the Peugeot Ashfield Stadium, the home of Ashfield Juniors Football Club and Glasgow Tigers Speedway Team is immediately adjacent. The area is well served by public transport.
- NEW ENTRY - Established Public House within 10 minutes to STRATHCLYDE University / Glasgow City Centre super M8 Motorway access and benefit of PREMISES LICENCE IN PLACE.
Description:SUPER SIZE. Benefits from good transport links. Popular and well maintained public house and function suite. Let on FRI basis till 2028 rent £52,000 per annum. *** Net initial yield 15%. *** Potential long tern development site subject to consents. The subjects comprise a detached single storey building constructed of brick and having, in the main, a pitched concrete tiled roof. The property has an entrance lobby which provides access to the 2 main areas, the public bar and also a function suite. Separate male, female and disabled toilet facilities are entered from the lobby. There is additional ancillary accommodation including a kitchen, office, cellars/stores plus there are further toilets within the function suite. There is an enclosed external area/beer garden accessed from the public bar and there is also space at the front of the property for customer car parking. *** VAT FREE PROPERTY *** Description Sq.m. Sq.ft. Public Bar 135.40 1,457 Function Suite 143.01 1,539 Kitchen 16.61 178 Public Bar Cellar 11.44 123 Function Suite Cellar 8.26 89 Office 10.02 108 The current rent is £52,000 per annum VAT NOT APPLICABLE. Upward only rent reviews are at 3 yearly intervals.
The subjects are situated on the south side of Hawthorn Street a short distance west of Filnas Street. Hawthorn Street runs between Balmore Road to the west and Springburn Road to the east. The surrounding area is predominantly residential in nature but the property is opposite a small parade of shops serving the local community and which contains a convenience store, newsagents, hot food units and a bookmakers. Gala Bingo and Farmfoods are located a short distance to the west and the Peugeot Ashfield Stadium, the home of Ashfield Juniors Football Club and Glasgow Tigers Speedway Team is immediately adjacent. The area is well served by public transport with regular bus services on Hawthorn Street going to and from the city centre. Ashfield Station is within a 5 minute walking distance from which there are regular services to/from Glasgow Queen Street Station with a 6 minute journey time.
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Ownership & Occupation:
Freehold- Outright ownership of the property and land on which it stands.
Tenanted- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.
|Type of Agreement||Full Repairing & Insuring (FRI)|
|Rent||£52,000 per year / £4,333 per month|
|Yield||18.0% (at guide price)|
|Notes:||The property is let out on a 15 year full repairing and insuring lease from 16th December 2013 until 15th December 2028.|
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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.
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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...
20 March 2018
Glasgow Radisson Hotel
301 Argyle Street, G2 8DL