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Agent's details

The Fifie, 54 High Street

For sale: POA|556 Sq Ft

Property details

FOR SALEPOA
SIZE556 Sq Ft
ADDRESSThe Fifie, 54 High Street, Newport-On-Tay, DD6 8AD
TENUREFor Sale Freehold
POSTED ON12th October 2023

Description

Key Points

  • Well established with excellent local reputation
  • Very profitable business
  • Quality fixtures & fittings throughout
  • Prominent trading position
  • 100% rates relief to qualifying occupiers
  • Long term lease with tenant only breaks
  • Sale of trading business by way of assest sale or sale of shares in The Fifie (Newport on Tay) Limited
  • Summary

    Opportunity to purchase a modern hot food takeaway leasehold business trading as a traditional fish and chip shop

    Description

    The subjects comprise a attractive retail unit located in a prominent corner position within a popular and well established parade of 10 commercial units.

    The unit is arranged over lower and upper ground floor levels and provides an immaculately presented modern hot food takeaway unit which is fitted to a very high standard to compliment the current business.

    Internally, the premises provide a large serving area to the front and kitchen/food preparation area and WC to the rear.

    There is on-street free car parking to the front and rear of the premises.

    Location

    The subjects are located within Newport-on-Tay which has a population of 4,200 persons and is positioned on the southern bank of the Tay Estuary within the region of Fife some 5 km from Dundee City Centre. It is reached from Dundee by means of the Tay Road Bridge.

    Newport has a small but busy retailing area on the High Street and the subjects themselves are located in a very prominent position at the corner of High Street and Cupar Road. As such, the shop benefit from good levels of visibility from all directions.

    The subjects are located in a mixed residential/commercial location with surrounding properties including Scotmid Co-operative, Spar, an optometrist, grocery, delicatessen and vets practice as well as other local retailers and professional services.

    Accommodation

    We have measured the premises in accordance with the RICS Code of Measuring Practice (6th Edition) as follows:

    Ground - 51.6 sq.m. (556 sq.ft.)

    Business Description

    The business is well established traditional fish and chip shop with leasehold commercial property which trades as "The Fifie". The business has a strong trading record and excellent reputation throughout the surrounding area and has been successfully run by the present owner for over 20 years. The business currently offers a traditional fish and chips/supper menu to take away.

    The business is being offered either by way of an asset sale (including the leasehold interest in the premises, goodwill, fixtures and fittings including a modern frying range, full extraction system, chip machine, fridges and freezers etc full inventory is available on request) or by way of sale of 100% of the shares in The Fifie (Newport on Tay) Limited (being a company which operates the business).

    The business is currently open 16:30-21.15, 7 days a week.

    Lease Details

    The premises are let on full repairing and insuring terms at a rental of £17,500 expiring 13th February 2038 with tenant only break options on 13th February 2028 and 2033.

    Offers

    Offers are invited for the trading business and assets or the acquisition of The Fifie (Newport on Tay) Limited by way of a share purchase. Stock in trade to be purchased at an additional price at valuation on the date of entry.

    Business Rates

    The premises are currently entered in the Valuation Roll as follows:-

    Shop - £7,700

    Qualifying occupiers may benefit from 100% rates relief under the Small Business Bonus Scheme.

    Location

    marker
    Location: The Fifie, 54 High Street, Newport-On-Tay, DD6 8AD

    Dundee (1.6 miles)

    Broughty Ferry (3.3 miles)

    Invergowrie (4.7 miles)

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