Tenanted Commercial LOT 116

24 St John Street, Coatbridge, ML5 3EJ
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Description

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

TENANTED INVESTMENT OPPORTUNITY*** Public House currently LET on FRI LEASE until 11th January 2034 at £20,000 PER ANNUM located within BUSY Coatbridge TOWN CENTRE.

SUBSTANTIAL ground floor public house. The property has been extended over the years with 2 extensions including conservatory style extension leading to the outdoor garden. Licensed Premises.

VAT FREE INVESTMENT*** Unit extends to approx. 2,171sq ft (201.7sqm). Nearby occupiers include Asda, Semichem, RBS, Subway and Boots pharmacy.

EXCELLENT TRADING LOCATION*** Situated on the east side of St John Street between its junctions with Muiryhall Street and Main Street within Coatbridge town centre.

Coatbridge is situated approximately 9 miles east of Glasgow City Centre with a population of c44,000 and a catchment population of approximately 570,000 within a 20 minute drive time.

TENANTED INVESTMENT OPPORTUNITY*** Public House currently LET on FRI LEASE until 11th January 2034 at £20,000 PER ANNUM located within BUSY Coatbridge TOWN CENTRE.SUBSTANTIAL ground floor public house. The property has been extended over the years with 2 extensions including conservatory style extension leading to the outdoor garden. Licensed Premises. Internally the property is well presented with an open plan seating area at the entrance with a corridor leading to the main bar centrally located within the property along with open plan dance floor, dj booth, w.c facilities, cellar, stores and office. The property is held on a full repairing and insuring head lease on the following terms; Tenant: 24SJS Ltd Expiry: 11th January 2034 Rent: £20,000p.a. From 12th January 2027: £23,000p.a. From 12th January 2030: £26,000p.a. VAT FREE INVESTMENT*** Unit extends to approx. 2,171sq ft (201.7sqm). Nearby occupiers include Asda, Semichem, RBS, Subway and Boots pharmacy. EXCELLENT TRADING LOCATION*** Situated on the east side of St John Street between its junctions with Muiryhall Street and Main Street within Coatbridge town centre.

Coatbridge is situated approximately 9 miles east of Glasgow City Centre with a population of c44,000 and a catchment population of approximately 570,000 within a 20 minute drive time.

Full Address: 24 St John Street, Coatbridge, ML5 3EJ

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: until 11th
Rent: £20,000 per year / £1,667 per month
Yield: 13% (approx)
Tenant: Private Individual
Notes:

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Pricing Information & Bidding

Opening Bid: £154,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Offer Now... You may submit an offer now on this property for the owner 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.

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SPECIAL Terms of Sale

  • 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

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Buy Now Price = £190,000

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Auction Details

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

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