NEW DEADLINE for OFFERS - 13th December 2019 at 5pm - Submit Offer Now >>

Lot 4a

10 Portland Street, Tinto Restaurant, Troon, KA10 6EA

Guide Price: £275,000

Tenanted Freehold Commercial Offer Now Available


GO TO...  Map  Viewings  Auction Details   How To Bid

Key Features:

READY LET PRIME TOWN CENTRE LICENCED RESTAURANT. Let on 10 year FRI lease to Beau Restaurants trading as Tinto Spanish Tapas with immediate rental income of £25,000 per annum. **VAT FREE PROPERTY**


  • The popular Tinto occupies a prominent position on Portland Street, the main thoroughfare within Troon Town Centre with prime trading position within the affluent costal town. EXTREMELY HIGH FOOTFALL
  • **EXTREMELY WELL-ESTABLISHED TENANT** Tinto Spanish Tapas have 6 successful units located across the West of Scotland. Full FRI lease until 2029 with FIXED RENT INCREASE to £27,000 in 2023.
  • **VAT FREE INVESTMENT** Deposit of £5,750 held by landlord. With personal guarantee on lease. PRIME CORNER TRADING POSTION with attractive glass frontage. Comprises main bar/ restaurant area (1,604 sq.ft), kitchen, toilets and cellar.
  • Troon is an affluent costal town with a population of around 15,000. National retailers in the immediate vicinity include William Hill, Ladbrokes, Farmfoods, Spar, Morrisons ad Poundland with a number of local boutiques.


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.
Rateable Value

Search Council Records

- Click the above link to search the latest records for this postcode.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 10 years
Rent £25,000 per year / £2,083 per month
Yield 9.1% (at guide price)
Tenant Company
Notes: April 2019- April 2029 FRI. Personal guarantee

Full Details:

READY LET Prime TOWN CENTRE LICENCED RESTAURANT. Let on 10 year FRI lease to Beau Restaurants trading as Tinto Spanish Tapas with immediate rental income of £25,000 per annum. **VAT FREE PROPERTY** Tinto occupies a prominent position on Portland Street, the main thoroughfare within Troon Town Centre with prime trading position within the affluent costal town. EXTREMELY HIGH FOOTFALL **EXTREMELY WELL-ESTABLISHED TENANT** Tinto Spanish Tapas have 6 successful units located across the West of Scotland. Full FRI lease until 2029 with FIXED RENT INCREASE to £27,000 in 2023. **VAT FREE INVESTMENT** Deposit of £5,750 held by landlord. PRIME CORNER TRADING POSTION with attractive glass frontage. Comprises main bar/ restaurant area with fixed seating, kitchen, toilets and large cellar. National retailers in the immediate vicinity include William Hill, Ladbrokes, Farmfoods, Spar, Morrisons ad Poundland with a number of local boutiques.

Guide Price: £275,000 - Offer Now


What is a Guide Price...

Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Unless specified all properties are subject to a Reserve (minimum acceptable price) which we expect will be set no more than 10% above or below the advertised guide.

Offer Now Explained...

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.

Map & Location:


Troon is an affluent area within South Ayrshire and has a population of around 15,000 persons. The A78 provides access north to Irvine (4 miles) and south to Ayr (8 miles), with the nearby A/M77 providing road access north to Kilmarnock (15 miles) and Glasgow (30 miles).

Viewings:


Internal Open Viewings...


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime...


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.

Auction Details:



  • Auction Date...

    04 February 2020


  • Start Time...

    7.00pm


  • Auction Location...

  • Glasgow Radisson

  • 301 Argyle Street, G2 8DL


View Map & Directions to the GLASGOW RADISSON >>


Registration...

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs...

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits...

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method...

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.

How To Bid:


Offer Now...

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person...

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live...

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...
Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy... (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form