ON THE INSTRUCTIONS OF ROSEMOUNT INNS LIMITED
Description
The Victoria Bar is arranged over the ground floor and basement of a traditional multi-storey stone constructed building, under pitched roofs, clad externally in slate.
The premises are accessed directly from the front, off Victoria Road, leading into the main trading areas. There is an attractive traditional frontage, with good quality signage.
Business Background
The premises were previously leased out and, therefore, we are not in receipt of accounting information. However, the premises, historically, have traded as a traditional bar, catering for the typical city centre clientele, as well as local repeat clientele from the surrounding densely populated areas. The premises have very much operated as a traditional local public house. We understand that revenue was in the region of £4,000 per week, although, in our opinion, this revenue could be increased under the hands of an experience hands-on operator.
Location
The Victoria Bar is situated in a prominent trading position on Victoria Road, which forms a continuation of the A929, one of the main arterial routes leading into Dundee City Centre. The premises lie a short walk from the core city centre and also benefit from being within a highly densely populated area.
This is an excellent opportunity for an experienced publican to acquire a fully fitted public house in good condition throughout, to cater for traditional town centre custom, as well as local repeat trade.
Accommodation
The accommodation internally is as follows:
Access
Double doorway, protected by a roller shutter, leading into the main bar area.
Bar
The bar is fitted with traditional decorations throughout and is in a walk-in condition. The bar area benefits from a high internal ceiling and good quality natural light from the windows to the front of the premises.
Seating is provided from a mix of pew style fitted seating, supplemented by loose timber tables and chairs. There is a timber floor and timber dado walls. The premises have an attractive bar servery and seating for approximately 45 persons.
Ancillary Accommodation
Ladies and gent’s customer toilets, accessible toilet, basement, stores and management office.
Terms
Lease Terms & Rental
The premises are being offered on the market at Rental Offers Over £18,000 per annum. There is a Nil Premium for the fixtures and fittings, although the fixtures and fittings will remain in the ownership of the Landlord. A rental deposit of £10,000 per annum and personal guarantee will be required from an incoming Tenant.
We envisage a lease term of at least 5 years, albeit this is negotiable. The Tenant will be tied to purchase draught and bottled beer from the Landlord, although an extremely high discount per barrel at £150 will be passed back to the Tenant. There is also a machine tie with a 50/50 split.
Specification
Rateable Value
The premises have a Rateable Value of £12,900.
Services
We understand that the property is connected to mains drainage, electricity and gas.
Premises Licence
There is a premises licence in place, regulated under the 2005 Licensing (Scotland) Act. The premises licence will be transferable to an incoming Tenant.
EPC
The property has an EPC rating of G.
Viewing & Further Information
Strictly no approaches to be made to the property direct. For further information please contact CDLH on 0141 331 0650.
Anti Money Laundering
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.