Extensive Ground Floor Bar, with Function Suite & Beer Garden
Let on F.R.I Lease
Expiry 25th June 2023
Passing Rent: £15,000p.a.x.
£120,000 Representing a G.I.Y. of 12.5%
Location
The subjects are situated on the North side of Camperdown Road to the East of its junction with MacAlpine Road within the densely populated Camperdown area of Dundee.
Subjects
The subjects comprise a single storey public house with terrace to the front elevation and beer garden to the side. The subjects are surmounted by a flat roof overlaid by what we believe to be bituminous felt.
Internally the subjects form main public bar, kitchen, cellar, games room and self contained function suite. The subjects have been recently refurbished by the previous occupier by way of painting throughout and upgraded lighting. The main bar offer extensive servery of traditional construction with a mix of fixed and loose tables and chairs, with seating for approx 40. The subjects benefit from extensive kitchen suitable for bar meals or gastro-pub style dining, with opportunity for the adjacent games room to accommodate more patrons up to a further 25 persons.
The subjects also benefit from separate function suite with private servery, open plan dance floor and raised stage to accommodate c. 100 persons. The subjects benefit from extensive paved beer garden and front terrace.
NAV/RV
The subjects have been assessed and entered onto the valuation roll with the following NAV/RV
£21,200
Investment
Tenant: Dundee Pubs (Property) Ltd
Term: Expiry 25th June 2023 (c. 5years Remaining)
Type: Full Repairing & Insuring
Passing Rent: £15,000p.a.x
Proposal
Our client is offering their freehold interest in the subjects for £120,000 representing a Gross Initial Yield of 12.5%. The transaction will be treated as a T.o.G.C.
V.A.T
All prices and premiums quoted are exclusive of V.A.T.
E.P.C.
Available on request