Description
3,920 Sq Ft Established Public House sold tenanted with FRI Lease at £30,000 pa until at least Sept 2028. VAT Free Investment. Comprising ground and basement levels of a prominent single storey unit.
Prime trading position on Shettleston Road. Nearby occupiers include Shettleston and Tollcross Credit Union, Subway, Well Pharmacy, Ladbrokes and Dunlops Auto Shop.
Net Internal Area: Ground Floor = £2,013 sq ft - Basement Floor = 1,906 sq ft. Total combined £3,920 sq ft (364 sq m)
Area well serviced by public transport links with Shettleston Railway Station located a short walk as well as many bus services operating regularly.
Internally comprising a large open plan traditional public bar with a large island bar/servery in the centre of the room. Seating is positioned around the walls with fixed banquet seating booths and loose tables and chairs. There are also 4 separate snug areas. Ancillary areas include male and female toilets, kitchen and a large basement cellar with ancillary storage areas. VAT FREE PROPERTY. Not elected for vat.
The pub lies on the north side of Shettleston Road between its junction with McNair Street and Fenella Street within the bustling Shettleston area of Glasgows East End. Approximately 4 miles east of the City Centre. This is a densely populated residential and commercial area. Nearby occupiers include Shettleston and Tollcross Credit Union, Subway, Well Pharmacy, Ladbrokes and Dunlops Auto Shop.
Full Address: 1169 Shettleston Rd, The Portland Arms, Glasgow, G32 7PE
Show MoreTenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)Length: 2028
Rent: £30,000 per year / £2,500 per month
Yield: 13% (approx)
Tenant: Company
Notes: Tenant is Shettleston 2021 Ltd. Term of lease from 6th Sept 2021 until 6th Sept 2028. Full repairing and insuring lease with £30k pa being paid (£600 per week)
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Pricing Information & Bidding
Guide Price: £262,000
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- 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
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Buy Now Price = £275,000
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Auction Details
Type: Deadline for Offers
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