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For SalePOA

KIRKCALDY INVESTMENT FOR SALE: PRIME MUSIC VENUE

Residential, Retail - High Street, Leisure Property, Pubs/Bars/Clubs, Restaurant/Cafes, Retail, Licensed & Leisure
Property type: Residential, Retail - High Street, Leisure Property, Pubs/Bars/Clubs, Restaurant/Cafes, Retail, Licensed & Leisure
Tenure: Investment Opportunity, For Sale Freehold
Price: POA
Location: 395 High Street, KY1 2SG
PROMINENT TOWN CENTRE LOCATION
MAIN THOROUGHFARE
EXTENSIVELY REFURBISHED
POPULAR MUSIC VENUE
LET ON F.R.I. LEASE
Kirkcaldy Beers Ltd
Passing Rent: £18,000p.a.x.
Offers Over £175,000

Location

The subjects are situated on the North West side of High Street at its junction with Dunnikier Road within a densely populated residential area of Kirkcaldy, parking is provided by way of free public car park accessed adjacent on Dunnikier Road.

The subjects are centrally located within Kirkcaldy, which is the main regional centre for the surrounding area and has a resident population of c.50,000 approximately 25 miles North of Edinburgh on the East coast of Scotland within the Kingdom of Fife.

Fife is situated between the Firth of Tay and the Firth of Forth with inland boundaries to Perth and Kinross along with Clackmannanshire. Fife has the third largest population in Scotland, with a resident population of c.360,000 and comprises 3 principle towns, Dunfermline, Kirkcaldy & Glenrothes.

Subjects

The subjects comprise a ground floor public house within a larger 3 storey traditionally built structure overlaid by a pitched tile roof, benefitting from advertising onto the Esplanade & Coal Wynd. Internally the subjects have been extensively refurbished by the tenant to include new flooring throughout, painting and decorating, refurbished bar area with creation of a live music suite along with renovated beer garden area to the rear.

The subjects offer main bar servery , lounge area which doubles as a live music venue with stage along with well appointed kitchen, refurbished male and female w.c. facilities.

Investment

The subjects are let by way of full repairing and insuring head lease on the following terms;

Tenant: Kirkcaldy Beers Ltd
Expiry: 6th May 2028
Passing Rent: £18,000p.a.x.
Rent Review: 5th Anniversary
Personal Guarantee: A personal guarantee is held by the sole director of the ltd company.
Deposit: A deposit of £3,500 is held by the landlord until the 5th anniversary of the lease.

Proposal

Our client is offering their freehold interest in the subjects for offers in excess of £175,000

E.P.C.

Available on request

V.A.T.

The subjects have been elected for V.A.T. The transaction would be treated as a Transfer Of a Going Concern (ToGC). Further information available on request

Legal

Each party shall bear their own legal costs incurred in the transaction

Documentation

Copies of lease and deposit agreement available on request

Further Info

Available via the marketing agent
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