Map & Location

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Special Terms of Sale

• Buyers Fee (?) 2% of Sale Price (Minimum of £3250 +vat)

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.

Description

• Status: Available
• Type: Commercial

• Ownership: Freehold
• Occupation: Tenanted

• Rateable Value: Search

Iconic Town Centre Public House & Upper Floor Apartment’s. Full Building Held on F.R.I Lease Expiring January 2033. Passing Rent: £27,000p.a. rising to £33,000. Formerly Occupied By Robert Burns.

The property is situated on the east side of High Street, north of its junction with Bank Street on a highly visible and busy position within the Ayrshire town of Irvine.

The property forms a substantial 3 storey public house with manager accommodation above. The property has been extended to the rear to form 2 further separate letting apartments

Tenant: Pint of Fun Ltd Expiry: 24th January 2033 Passing Rent: £27,000p.a From Jan 2027-Jan 2030 £30,000p.a From Jan 2030 - Jan 2033 £33,000p.a

The tenant operates multiple sites across central Scotland and is an established operator.

Irvine lies 30 miles south west of Glasgow, 15 miles north of Ayr and is the principle town in North Ayrshire with a population of over 34,000 persons and a catchment of over 135,000 persons. The town lies at the convergence of the A78, A737, A767, and A71 road routes providing road access to Greenock, Ayr, Kilmarnock and Glasgow. Prestwick Airport is located 7 miles south of the town.

Full Address: 162 High Street, Full Building Portfolio, Irvine, Ayrshire, KA21 8AN

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2033
Rent: £27,000 per year / £2,250 per month
Yield: 14% (approx)
Tenant: Company
Notes: Tenant: Pint of Fun Ltd Expiry: 24th January 2033 Passing Rent: £27,000p.a From Jan 2027-Jan 2030 £30,000p.a From Jan 2030 - Jan 2033 £33,000p.a

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Pricing Information & Bidding

Opening Bid: £199,000

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 = 2% 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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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.

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Auction Details

Date & Time: 28 November 2024, 10am-3pm
Type: Timed Online Auction

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