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Description

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

INCOME PRODUCING RESTAURANT INVESTMENT with settled long-term tenant and extremely well-established business paying £39,000 per annum (inclusive of VAT) in the popular Harbour area of Wick, Highlands.

Large 2 storey detached restaurant (approx 4,321sqft) in FANTASTIC TRADING POSITION close to popular harbour on the outskirts of busy town centre fitted out to a high standard by current occupiers.

IMPRESSIVE RETURN ON INVESTMENT with annual passing rent of £39,000 per annum (£3,250pcm- including VAT) making this an ideal short and long-term investment in popular town in Scotland's Highlands.

Perfect position for restaurant approximately 50 yards from large free car park, 250 yards from the train station and offering stunning views across Wick Bay to the North Sea.

Wick is the main administrative hub for the area and has a resident population of approx 7,000 people and occupies and enviable position on the North Coast 500 tourist route. MASSIVE TOURIST PULL.

INCOME PRODUCING RESTAURANT INVESTMENT with settled long-term tenant and extremely well-established business paying £39,000 per annum (inclusive of VAT) in the popular Harbour area of Wick, Highlands. Large 2 storey detached restaurant (approx 4,321sqft) in FANTASTIC TRADING POSITION close to popular harbour on the outskirts of busy town centre fitted out to a high standard by current occupiers. IMPRESSIVE RETURN ON INVESTMENT with annual passing rent of £39,000 per annum (£3,250pcm- including VAT) making this an ideal short and long-term investment in popular town in Scotland's Highlands. Perfect position for restaurant approximately 50 yards from large free car park, 250 yards from the train station and offering stunning views across Wick Bay to the North Sea. Wick is the main administrative hub for the area and has a resident population of approx 7,000 people and occupies and enviable position on the North Coast 500 tourist route. MASSIVE TOURIST PULL.

Wick is the main hub of Caithness providing administrative and community facilities including a general hospital, swimming pool, retail parks and Highland Council offices. The vibrant town centre hosts a diverse selection of traditional and contemporary shops, cafes, bars and restaurants. There are a number of primary schools within the area as well as a secondary school. A number of leisure activities are on offer for all ages varying from walks, history and culture, golfing and boat tours. The surrounding Caithness countryside is spectacular and diverse offering a range of inland and coastal pursuits and plenty of local wildlife. As such the area is extremely popular amongst tourists and those travelling towards the Islands further north. The town is also located on the lucrative NC500 Route. The harbour is a commercial port with an extensive marina complex with a developing leisure boat facility. Situated on the A99-A9, Wick is ideally linked between John O'Groats and Inverness and features rail links to the north and 103 miles south towards Inverness and beyond. Wick airport also offers a number of scheduled UK flights daily.

Full Address: 2 The Shore, Restaurant Investment, Wick, KW1 4LU

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Sept 2024
Rent: £39,000 per year / £3,250 per month
Yield: 18% (approx)
Tenant: Company
Notes:

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Pricing Information & Bidding

Opening Bid: £213,000

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)

STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

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Auction Details

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

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