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Agent's details

TOWN CENTRE LADBROKES INVESTMENT OVER 5 YEARS REMAINING

For sale: POA|1,422 Sq Ft|Mixed use, Retail - High Street, Other Property Types & Opportunities, Retail

Property details

FOR SALEPOA
SIZE1,422 Sq Ft
ADDRESSLadbrokes Ltd, 59-61 Montague Street, Rothesay, Isle of Bute, Argyll and Bute, PA20 0BU
TYPEMixed use, Retail - High Street, Other Property Types & Opportunities, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON2nd April 2024

Description

Town Centre Location
Held on F.R.I Lease To Ladbrokes
1,422sq ft
Expiry November 2029
No Breaks
V.A.T. Free
Passing Rent: £16,000per annum
Price: £159,000

Location

The property is situated on the south side of Montague Street close to its junction with Tower Street within Rothesay’s town centre.

The thriving island is a prime tourist destination renowned for outstanding landscapes, beautiful views and diverse activities. Bute benefits from high occupancy levels and visitors throughout the season.

An outstandingly beautiful and historic island, Bute is situated at the heart of the Firth of Clyde, off Scotland's stunning west coast. The island possesses areas of great scenic beauty and has been a popular holiday destination since Victorian times. Due to its proximity to the Gulf Stream, the island enjoys a particularly mild climate and it has become known as the "Madeira of Scotland". Rothesay is the main town on the island and has a population of approximately 5000 with an extensive range of amenities including primary and secondary schooling, shopping, a hospital, swimming pool, sports centre and three golf courses.

Regular ferries (Caledonian MacBrayne) operate from Rothesay to Wemyss Bay (35 mins) with Glasgow city centre and the international airport generally reached in about an hour from the ferry terminal. Wemyss Bay has a direct train link to the city centre. A second ferry from Rhubodach, in the north of the island, to Colintraive, allows easy access to Argyll and the West Highlands.
The Isle of Bute also offers wonderful hill and coastal walks, golfing, sea fishing and trout fishing.

Property

The property comprises a ground floor commercial space within a larger 3 storey mixed use development with the upper floors under separate ownership

Area

The property has been calculated to extend to the following floor area;

132.08sqm (1,422sq ft)

Lease Summary

The property is held on a new full respiring and insuring head lease on the following terms;

Tenant: Ladbrokes Betting & Gaming Ltd
Expiry: 16th November 2029
Passing Rent: £16,000p.a.
Further: For the year ended 31.12.2022 Ladbrokes Betting & Gaming Limited reported a turnover of £1.033 Billion Pre tax profits of £54.369 Million and a net worth of £1.153 Billion (Experian 29.02.2024)

Price

The property is available on a freehold basis for £159,000

V.A.T.

The property is not elected for V.A.T.

E.P.C

Available on request

Title

Available on request

Legal

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

Viewing

Whilst it is a good idea to visit a trading business that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business.

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.

Location

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Location: Ladbrokes Ltd, 59-61 Montague Street, Rothesay, Isle of Bute, Argyll and Bute, PA20 0BU

Wemyss Bay (7.1 miles)

Largs (7.9 miles)

Inverkip (8.7 miles)

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