Tenanted Commercial LOT 61

24 John Street, Coatbridge, ML5 3EJ
BIDDING OPENS in...
Map   Street View   Satellite

Description

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

2,171sq ft Licensed Premises in excellent Town Centre Location. V.A.T. Free Investment with F.R.I Lease until 2024 with Passing Rent: £20,000p.a. * Fixed Increases To: £26,000p.a.

The tenant operates multiple venues across the central belt of Scotland including licensed venues in Greenock, multiple sites in Glasgow City and Lanarkshire.

The property is situated on the east side of St John Street between its junctions with Muiryhall Street and Main Street within Coatbridge town centre.

The property has been extended over the years with 2 extensions including conservatory style extension leading to the outdoor garden.

The property is held on a full repairing and insuring head lease

The property comprises a substantial ground floor former public house. The property has been extended over the years with 2 extensions including conservatory style extension leading to the outdoor garden. 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. 201.7sqm (2,171sq ft) NAV/RV £11,600 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. The tenant operates multiple venues across the central belt of Scotland including licensed venues in Greenock, multiple sites in Glasgow City and Lanarkshire.

The property is 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. Neighbouring occupiers include Funky Monkeys nursery, Drumpark School, Boots, VPZ and Subway.

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

Show More

Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2034
Rent: £20,000 per year / £1,667 per month
Yield: 13% (approx)
Tenant: Private Individual
Notes: 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.

Document Downloads

  Legal Pack (Pending)

 * Click the above 'Pending' document link to log your request and we will notify you once available.

Pricing Information & Bidding

Opening Bid: £149,000

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).

How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.

View Live Online Auction

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.

Submit Offer Now

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.

Payment Calculator

Please use our PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.

Payment Calculator

Buy Now Price = £175,000

Please use our BUY NOW form to secure this property now. Once you submit the form we will send you an invoice and payment details so you can make the necessary deposit payment to proceed with the purchase.

BUY NOW for £175,000 - CLICK HERE

Auction Details

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

View Full Auction Catalogue

Similar Properties


Lot 98
£293,000 OPENING BID
  • PRIME LET BOOTS INVESTMENT*** 2,925sq.ft. over Ground & 1st Floors. Highly visible commer...
Lot 69
£333,000 OPENING BID
  • 3,737 SQUARE FEET RESTAUARANT / CAFE NERO Prime GLASGOW City Centre Location Opposite Gla...