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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
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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
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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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