DESCRIPTION
Boat Brae is arranged within an attractive two storey building, under a part-pitched roof, clad in high-tec lead membrane. The premises benefit from architectural features, including ornate pillars to the front, as well as large, virtually, full height timber framed windows. To the rear is an external elevated seating area, with a stunning backdrop over the River Tay, Tay Bridges and Dundee City Centre.
THE OPPORTUNITY
Boat Brae was leased to our client as a shell and subsequently fully refurbished to a first class restaurant. The tenant has invested in excess of £250,000 on the refurbishment. Boat Brae provides a first class fully furnished and fitted restaurant in a superb location. The quality of the fit-out is superb, providing an incoming tenant with a “walk-in” licensed opportunity. This is a first class opportunity for either an experienced licensed operator or chef couple, to acquire a property in a first class location.
Location
Newport-On-Tay, with a population of circa 8,000 persons, is a large town lying on the banks of the River Tay, a short distance from Dundee City Centre, via the Tay Road Bridge.
The town has become an affluent suburb of Dundee due to its close proximity to the city centre (5 minute drive time) and its scenic riverside setting. It is also a short drive (12 miles) to St Andrews, the home of golf.
Any licensed business will not only be able to draw from the immediate population of the town, but also the large population of Dundee, estimated in the region of 150,000. Dundee also boasts the renowned V&A Dundee, and the proposed Eden Project Dundee.
Specifically, Boat Brae Bar and Restaurant is situated in an excellent trading position within the centre of Newport-On-Tay. The premises lie on the main arterial route leading through the town and benefit from a highly attractive frontage, directly to the main road.
Customer access is gained directly from the street at the front of the building. The main entrance leads to the bar and a second entrance to Upper Seating Area 1. Both are wheelchair accessible.
Accommodation
ACCOMMODATION SPECIFICS
Internally, the accommodation is as follows:
Bar
The main bar is accessed directly from the front of the premises. There is an attractive timber framed bar servery with marble top situated to the rear. There is a mix of fixed and loose back seating for approximately 40 persons, supplemented by 10 high stools. The bar has been attractively decorated and includes features such as a real fire stove, wood panelled walls and excellent natural light from virtually full height windows.
Upper Seating Area 1
Upper Seating Area 1 is situated to one end of the premises, and accessed directly from the bar area. This area has superb natural light, with virtually full height windows, both to the front and rear. The rear has highly attractive scenic views. There is seating for approximately 20 persons.
Upper Seating Area 2
Upper Seating Area 2 is a mezzanine area, formed above the main bar. It is accessed via a attractive timber staircase from seating Area 1. Seating comprises a mix of loose tables and chairs and booth seating. The servery at one end of the restaurant connects directly to the open kitchen. There is seating for approximately 60 persons.
Kitchen
The commercial kitchen is part open to the upper restaurant. It is fitted with good quality catering equipment.
External Seating Area
There is a highly attractive elevated external seating area, situated directly to the rear of the bar area. This area has been constructed in a steel frame, with decking and glass panels. There is seating for approximately 50 persons, and has attractive views over the River Tay, Tay Bridges, Dundee and the surrounding landscape.
SERVICE AREAS
Service areas include a washroom/store, 2 accessible toilets, ladies’ toilets, gents’ toilets, office, beer cellar and stores.
Terms
THE LEASE
The premises are held on a lease agreement. The lease is due to expire in 2044 (20 years remaining). In addition, there is a right to extend the lease by a further period of 15 years, extending the term to 35 years unexpired. The current rental is £30,500 per annum.
PRICE
Boat Brae has been placed on the market at premium offers over £95,000 for the benefit of the leasehold interest, to include all fixtures and fittings. The premium value is not only for the trading inventory but for the fact that the premises have been fitted in a first class walk-in condition, including all flooring, heating, electrical provision, lighting, fitted kitchen and external areas.
Specification
RATEABLE VALUE
The premises have a Rateable Value of £30,000, effective from 1st April 2023.:
SERVICES
We understand that the premises are connected to all mains services, including gas, drainage and electricity. Heating is provided from under floor heating, supplemented by a real fire stove within the main bar area. At the rear of the property, the restaurant benefits from full electric blinds to reduce sun glare.
PREMISES LICENCE
There is a premises licence in place, regulated under the 2005 Licensing (Scotland) Act.
EPC
The property has an EPC rating of E
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 conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.