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Description
1,300 Sq.Ft Long Established Public House. Fully Refurbished. Free of Tie Investment. VAT Free. Expiry: Feb 2033 Tenant In Situ Since 2015. Passing Rent: £12,000 P/A. Fixed Increase to £15,000 P/A.
Situated on the South side of Westmuir Street, opposite its junction with Back Causeway within the Parkhead area of Glasgow.
The area is one which is densely populated with the benefit of a variety of commercial retailers along with office & professional businesses.
The property forms a mid terrace ground floor public house set within a larger 4 storey tenemental development surmounted by a pitched roof.
The property has been renovated by the tenant recently to incorporate new flooring, perimeter bench seats along with loose tables and chairs.
The property forms a mid terrace ground floor public house set within a larger 4 storey tenemental development surmounted by a pitched roof. The property has been renovated by the tenant recently to incorporate new flooring, perimeter bench seats along with loose tables and chairs. A new beer garden has been installed with canopy, new tiles, bench seating and external heaters. A small office and cellar are situated to the rear of the main bar servery, with w.c’s accessed from the main bar area. The bar is free of tie, with the tenant operating a number of other units and long established within the trade. We understand that this location has a strong regular customer base which does not rely solely on intermittent football business. Area The property extend to the following floor area: 120.77sqm (1,300sq ft)
Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)Length: 5th Feb 2033
Rent: £12,000 per year / £1,000 per month
Yield: 20% (approx)
Tenant: Private Individual
Notes: Tenant: Personal Name (in-situ since 2015) Expiry: 5th Feb 2033 Passing Rent: £12,000per annum Fixed Increase to £15,000per annum Rent History: The tenant has an excellent track record of rent payments, including during lockdown.
Maps & Location
Map Street View SatelliteThe subjects are situated on the South side of Westmuir Street, opposite its junction with Back Causeway within the Parkhead area of Glasgow. The area is one which is densely populated with the benefit of a variety of commercial retailers along with office & professional businesses. The area benefits from excellent public transport links with a plethora of bus stops on each roadside along with being close to the Parkhead Forge Shopping centre. Neighbouring occupiers include Public House, Parkhead Off Licence, Turnbull McCarron Solicitors & Parkhead Health Centre.
Document Downloads
Pricing Information & Bidding
Opening Bid: £59,000
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Terms & Conditions of Sale
- 10% Deposit (Minimum £3,000)
- Standard Completion (Unless specified differently in any Special Conditions of Sale)
- Buyers Fee = 3% of Sale Price (Minimum £4,000 + vat)
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General Terms & Conditions of Sale
Lot Specific Terms - 174Westmuir St, Public House, Glasgow