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For Sale£165,000.00

Public House Investment For Sale: Extensive Public House & Duplex Apartment

Office, Residential, Flat, Retail - High Street, Pubs/Bars/Clubs, Offices, Retail, Licensed & Leisure
Property type: Office, Residential, Flat, Retail - High Street, Pubs/Bars/Clubs, Offices, Retail, Licensed & Leisure
Tenure: Investment Opportunity, For Sale Freehold
Price: £165,000.00
Location: 22 High Street, TD1 1SE
Let to "BuddyM Pubs Ltd"
Lease Expiry: 18th Feb 2023
Passing Rent: £15,600p.a.x.
Rent Payable Weekly
£165,000(+V.A.T.)

Location
The subjects are located in Galashiels, one of the main towns within the Scottish Borders with a resident population of 12,500. Situated on the North side of High Street, the subjects frontage faces South permitting a great deal of natural light to enter the premises.
Neighbouring occupiers include Iceland, Clydesdale Bank, Trinity Parish Church and Royal Mail sorting office.

Subjects
The subjects comprise a prominent corner position 3 no. stories with public house and residential dwelling of traditional construction surmounted by a pitched slate roof.
The subjects benefit from return frontage from High Street and Sime Place with access from both sides. Internally the subjects have been renovated by the tenant by way of painted and decorated throughout with the property's general interior condition being in good order. Lighting is provided by way of wall mounted lamps and ceiling mounted halogen spot lights. The servers is of a timber nature being in a semi-circular design wrapping toward both entrance doors from High Street. The bar also benefits from an open plan area to the rear which currently holds the pool table however may be utilised for other entertainment. Male and female toilets are provided at ground floor with access to the basement via a single timber staircase.

The partial basement houses the kitchen facility which is fully fitted with range cooker, extraction canopy, dish washer, sink, fridges dual fryers and stainless steel prep tables. The partial basement also leads to the cellar and further storage area, small office and dry cellar with delivery access via Sime Place.

The residential dwelling is accessed via Sime Place through a single timber door leading directly to a single timber staircase with partial return opening to the main hallway with extensive kitchen, lounge, dining room, bathroom, storage cupboards and 2 No. bedrooms. The apartment has been refurbished by the tenant and is currently utilised as their dwelling. The 2nd floor is accessed via a single staircase from the hallway opening into a converted attic space with vellum windows to the North, West and East of the roof space which has been converted to form 3 no. single bedrooms, storage cupboard and shower room.

NAV/RV
The subjects have been assessed and entered onto the valuation roll with the following NAV/RV;

£25,200

Tenancy
Tenant: BuddyM Pubs Ltd
Term: 19/2/2018 - 18/2/2023 - The tenant has been in occupancy for several years prior to committing to a formal lease.
Break Option: 3rd Anniversary
Type Of Lease: Full Repairing and Insuring
Rent: £15,600per annum

Proposal
Our client is offering their freehold interest in the subjects for a price of £165,000 (+V.A.T.) The transaction could be treated as a ToGC

EPC
Available on request

Viewing
Strictly by appointment only via the sole marketing agent
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