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52 Chestnuts Hotel, Racecourse Road, Ayr, KA7 2UZ

not specified / Leisure

For Sale - £1,100,000.00

Available - Last updated: 02 April 2020

The subjects comprise a detached two storey villa dating back to around 1870 with a range of one and two storey extensions all set within a large corner plot offering ample off-street car parking and landscaped garden areas.
The principal accommodation comprises the following:

Lounge Bar
Restaurant
Private Dining Area
Fourteen Bedrooms
Kitchen/Prep Area
Customer Toilet
External Store Rooms
Staff Accommodation
Mews Cottage

The property is well presented internally.
The property is held on a 20 year full repairing and insuring lease from October 2008 although with tenant's repairs obligations limited through a Schedule of Condition.
The passing rent is £86,800 per annum.
The majority of fixtures and fittings are owned by the landlord and an inventory is attached to the lease.
The tenant is Craig Homes Ltd and, whilst there is no history of rent arrears, the vendors are wiling to guarantee the rental for the remaining term of the lease.
Offers over £1,100,000 are invited equating to a net initial yield of 7.5% after purchaser's costs of 5.75%.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Chestnuts Hotel For Sale £1,100,000.00 NA

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Kevin Bell

Shepherd Commercial

01292 400049



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