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Description

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

Prominent Public House Investment in Corner Location. Centre Of Residential Area. Trading For Over 30yrs New F.R.I Lease Expiry: March 2032 Passing Rent: £24,000p.a Rent Review Every 5yrs Upwards Only

RENT PAID UP TO DATE The property is located on Maryhill Road which is one of the key routes in and out of Glasgow city centre, characterised by retail, commercial and business premises.

The site is highly accessible and footway provision in the area is excellent with footways present on both sides of Maryhill Road.

In terms of public transport, the proposal site is located within an area of ‘High Accessibility’ with bus stops located immediately adjacent.

The property itself forms the ground floor within a split level, tenemental development surmounted by a pitched roof.

The site is highly accessible and footway provision in the area is excellent with footways present on both sides of Maryhill Road which benefit from street lighting and dropped kerbs at crossings. In terms of public transport, the proposal site is located within an area of ‘High Accessibility’ with bus stops located immediately adjacent to the proposal site on both sides of Maryhill Road. Continuous footways and safe crossing facilities are already available to access these stops. The nearest rail station to the site is Maryhill train station which is located approximately 300 metres to the west with regular rail services into Glasgow City Centre and other local destinations, including Kelvindale, Anniesland and Summerston. The property itself forms the ground floor within a split level, tenemental development surmounted by a pitched roof. Benefitting from multiple points of access, the property offers separate bar and lounge internally with w.c’s (male, female and disabled), office, cellar, and tea prep area. The space has been refurbished and upgraded by the tenant with new LED lighting, linoleum and laminated timber flooring along with painted and decorated throughout. Lease Summary The property is held on a new full repairing and insuring head lease on the following terms; Tenant: Ellaa Ltd Term: 31st March 2023 - 30th March 2032 Rent: £24,000p.a (monthly in advance) Rent Review: 5th year - Upwards only O.M.V There is an inventory of fixtures and fittings of assets belonging to the landlord.

The property is located on Maryhill Road which is one of the key routes in and out of Glasgow city centre, characterised by retail, commercial and business premises, together with tenemental residential properties. In terms of architecture, the area surrounding the proposal site is extremely diverse, comprising buildings of varying scales, styles and finishes.

Full Address: 1968-1972 Maryhill Road, North Kelvindale, Glasgow West End, G20 0EF

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 10 Years (2032 Expiry)
Rent: £24,000 per year / £2,000 per month
Yield: 12% (approx)
Tenant: Company
Notes: Tenant: Ellaa Ltd Term: 31st March 2023 - 30th March 2032 Rent: £24,000p.a (monthly in advance) Rent Review: 5th year - Upwards only O.M.V RENT PAID UP TO DATE

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Pricing Information & Bidding

Opening Bid: £198,000

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 £2,750 for on time settlement

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

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Auction Details

Date & Time: 05 December 2024, 10am-3pm
Type: Timed Online Auction

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