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Description

This property is offered for sale as an Investment sale Asking Price: Offers over £ 260,000 Last verified 6 August 2008 The owner is seeking offers over £260,000 in respect of their heritable interest. A purchase at this level would represent an attractive net initial yield of 8.82% based on purchaser’s costs of 4.75%. The marketing agent understands that no VAT is payable on the transaction. Tenancy Details - The subjects are let to Nicholas Fox and John Fox for a period of three years from 9 October 2006. The current rent passing is £24,000 per annum, payable monthly in advance. There is a joint repairing obligation in respect of the upkeep and maintenance of the building and there is also a rolling six month tenant’s break option incorporated within the lease documentation. Investment Considerations - Given the flexible lease arrangement, there is opportunity for an investor/purchaser to acquire the premises and, upon expiry of the lease, trade from the establishment. Alternatively, there may be the opportunity to re-structure the lease with the existing tenants to improve the security of income. Further details are available upon application to the marketing agents.

Comments
The subjects comprise a traditional public house premises arranged over the ground and basement floors, formed within a tenement property, being three storeys and attic in height and constructed of solid sandstone, having a pitched and slated roof. The subjects have been extended to the rear by means of a single storey brick extension, being rendered and having a flat roof overlaid in felt.
Internally, the subjects are fitted out to a modern standard and comprise public bar, lounge bar/function suite, male and female toilet accommodation and, at basement level, beer cellar/ancillary storage.
The subjects are formed to the north of Main Street within West Kilbride. Main Street comprises the main retail centre within the village, which is characterised by a mix of properties including local retail facilities, hot food units and other licensed operators.
West Kilbride itself is located within South Ayrshire, a short distance north of the town of Ardrossan and immediately adjacent to Seamill. The town is accessed via the A78 which forms the main coastal route between Prestwick to the south and Greenock to the north.

Property Parts
Ground Floor 2,093 Sq Feet
Basement 1,201 Sq Feet
Total Area 3,294 Sq Feet

Features
Multi-storey Layout
Licensed

Notice
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