Mixed Use
The ground floor bar and first floor kitchen and restaurant area have been let on a new 7 year lease at £1,350 per calendar month (16,200 per annum). The second floor flat is currently vacant however we would anticipate a rental income in the region of £425 per calendar month (5,100 per annum). The flat would require some minor improvement and upgrading. The third floor flat is in good condition and is currently let on an assured shorthold agreement producing £450 per calendar month (£5,400 per annum). We would anticipate when fully let a yearly income in the region of £26,000 to £27,000.
The property has a particularly attractive appearance, the public house comprises of a double fronted bar area, a side passage leading to the cellar, refitted wc’s and staircase leading to the first floor restaurant area with well-equipped fitted kitchen (note the contents of which are in the inventory included in the sale).
On the second and third floors are the two apartments which have private access from the rear of the property. These both have the same layout of fitted kitchen diner, living room, inner hallway providing access through to two genuine double bedrooms and bathroom.
Freehold. Part let/part vacant.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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