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Description

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

***SUPER SIZED Licenced public house with residential apartments available with full vacant possession***Incredible development opportunity***

***Internally the property offers an open plan diner with central servery along with male, female and disabled w.c facilities with large cellar and ancillary storage within the basement***

The first floor accessed from Bank Lane to the rear which offers 2 residential apartments one with 2 bedrooms, lounge and kitchen, the other as a studio apartment. Open plan lounge / kitchen / bed.

***Potential combined annual rental of circa £32,000. £25,000 on the commercial area. £7000 on the 2 residential apartments. This would give a massive potential yield of 21%***

The Square in is a vibrant, central part of this historic town, combining local amenities, cultural heritage, and community life. It’s an essential stop for visitors and a cherished area for residents

***SUPER SIZED Licenced public house with residential apartments available with full vacant possession***Incredible development opportunity*** ***Internally the property offers an open plan diner with central servery along with male, female and disabled w.c facilities with large cellar and ancillary storage within the basement*** ***The first floor accessed from Bank Lane to the rear which offers 2 residential apartments one with 2 bedrooms, lounge and kitchen, the other as a studio apartment. Open plan lounge / kitchen / bed*** ***Potential combined annual rental of circa £32,000. £25,000 on the commercial area. £7000 on the 2 residential apartments. This would give a massive potential yield of 21%*** ***The Square in is a vibrant, central part of this historic town, combining local amenities, cultural heritage, and community life. It’s an essential stop for visitors and a cherished area for residents***

The Square in Cumnock, East Ayrshire, serves as a central focal point in this historic market town. It is a hub of activity, combining local amenities, historical landmarks, and community spirit. Cumnock itself is known for its rich heritage, ties to the mining industry, and its role as a key town in Ayrshire. The Square is home to a variety of local businesses and essential services, including: Independent retailers, such as clothing shops, florists, and gift stores. Convenience stores, including bakeries and small grocery shops. Service-based businesses like banks, estate agents, and pharmacies. Larger shopping options are available at Ayr Road Retail Park and nearby towns, but The Square retains its charm with local, community-focused stores. Cumnock is well-connected by road, with A76 providing easy access to Ayr, Kilmarnock, and Dumfries. Regular bus services link Cumnock with nearby towns and cities. Although there is no train station in Cumnock, Auchinleck railway station is a short drive away, offering connections to the national rail network.

Full Address: 23 The Square, Mixed Use Portfolio, Cumnock, Ayrshire, KA18 1AU

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Map & Location

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Special Terms of Sale

  • Buyers Fee (?) 3% of Sale Price (Minimum of £2500 +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.

Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 10 Years
Rent: £18,000 per year / £1,500 per month
Yield: 17% (approx)
Tenant: Private Individual
Notes: Held on F.R.I. Lease Tenant: Istanbul Grill Cumnock Ltd Expiry: 19th June 2034 Passing Rent: £18,000per annum Rent Review & Tenant Break: 20th June 2029

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Pricing Information & Bidding

Opening Bid: £107,000

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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 3% of Sale Price (Minimum £2,500 + vat)

STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

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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: 03 April 2025, 10am-3pm
Type: Timed Online Auction

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