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Lot 1e

Guide Price: £199,000 - Bid Now

10 Kirkton Street, Kirkton Inn, Carluke, ML8 4AB


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Key Features:

PRIME Let Carluke Town Centre Public House & Restaurant LET @ £24,500 PER ANNUM to Magdalene Bars Limited from 1 May 2018 until 30 April 2038 (FULL PERSONAL GUARNATEES IN PLACE FROM 2 INDIDUALS PERSONALLY) - SUPER SIZED BUILDING - 3,595 SQUARE FEET - 334 SQ METRES. ***20 YEAR FRI LEASE TILL 2038***CIRCA 11% PER ANNUM RENTAL RETURN.


  • SUPER PROMINENT SITE - 'The Kirkton Inn’ occupies a prominent roadside position BUSY MAIN ROAD, facing BANK OF SCOTLAND, adjacent Take-aways, Ladbrokes and HIGH STREET - a main thoroughfare forming part of the A73 running through Carluke Town Centre. LARGE, terraced public house, restaurant and function property contained over two floors (3,596 sq feet). Has a well presented beer garden to the rear. Excellent return.
  • FRI COMMERCIAL LEASE FOR 20 YEARS to MAGDALENE BARS LTD from 1 May 2018 to 30 April 2038 at £24,500 per annum rent paid quarterly in advance. 5 Yearly rent reviews upwards only. FULL PERSONAL GUARANTEES from SCOTT BRUNEL and Isaharie ISKANDAR guaranteeing the lease. LOW RENTAL POTENTIAL FOR RENTAL GROWTH.
  • Ground Floor: Lounge BAR WELL FITTED OUT/BENEFITS FROM A FITTED RESTAURANT ALSO, snug lounge, beer cellar, male, female and disabled toilets and stores. First Floor: Function suite, kitchen, ladies and gents toilets. FLOOR AREA We calculate the Gross Internal floor area to extend to 334 sq.m (3,595 sq.ft) approx.
  • Carluke has a population of 13,500 persons and is located within South Lanarkshire, 25 miles south east of Glasgow and 7 miles south of Hamilton. The town lies 5 miles east of junction 7 of M74 and the town is well served by public transport links, with regular rail services to Glasgow and surrounding Lanarkshire towns.


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.
Rateable Value

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Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 20 Years
Rent £24,500 per year / £2,042 per month
Yield 12.3% (at guide price)
Tenant Private Individual
Notes: LET @ £24,500 PER ANNUM to Magdalene Bars Limited from 1 May 2018 until 30 April 2038 (FULL PERSONAL GUARNATEES IN PLACE FROM 2 INDIDUALS PERSONALLY)

Further Details:

PRIME Let Carluke Town Centre Public House & Restaurant LET @ £24,500 PER ANNUM to Magdalene Bars Limited from 1 May 2018 until 30 April 2038 (FULL PERSONAL GUARNATEES IN PLACE FROM 2 INDIDUALS PERSONALLY) - SUPER SIZED BUILDING - 3,595 SQUARE FEET - 334 SQ METRES. ***20 YEAR FRI LEASE TILL 2038***CIRCA 11% PER ANNUM RENTAL RETURN. SUPER PROMINENT SITE - 'The Kirkton Inn’ occupies a prominent roadside position BUSY MAIN ROAD, facing BANK OF SCOTLAND, adjacent Take-aways, Ladbrokes and HIGH STREET - a main thoroughfare forming part of the A73 running through Carluke Town Centre. LARGE, terraced public house, restaurant and function property contained over two floors (3,596 sq feet). Has a well presented beer garden to the rear. Excellent return. Ground Floor: Lounge BAR WELL FITTED OUT/BENEFITS FROM A FITTED RESTAURANT ALSO, snug lounge, beer cellar, male, female and disabled toilets and stores. First Floor: Function suite, kitchen, ladies and gents toilets. FLOOR AREA We calculate the Gross Internal floor area to extend to 334 sq.m (3,595 sq.ft) approx. FRI COMMERCIAL LEASE FOR 20 YEARS to MAGDALENE BARS LTD from 1 May 2018 to 30 April 2038 at £24,500 per annum rent paid quarterly in advance. 5 Yearly rent reviews upwards only. FULL PERSONAL GUARANTEES from SCOTT BRUNEL and Isaharie ISKANDAR guaranteeing the lease. LOW RENTAL POTENTIAL FOR RENTAL GROWTH.

Guide Price: £199,000 - Bid Now


What is a Guide Price...

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.

Map & Location:


Excellent main road location - facing bank, adjacent take-aways bookmakers and with a catchment population of 25,000 people very busy public house with RESTUARANT AND BEER GARDEN also. Carluke has a population of 13,500 persons and is located within South Lanarkshire, 25 miles south east of Glasgow and 7 miles south of Hamilton. The town lies 5 miles east of junction 7 of M74 and the town is well served by public transport links, with regular rail services to Glasgow and surrounding Lanarkshire towns.

Viewings:


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.

Auction Details:



  • Auction Date...

    22 October 2018


  • Start Time...

    7.00pm


  • Auction Location...

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions...

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.

How To Bid:


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