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Established Leashold Restaurant Business, 11 Crails Lane, st Andrews, KY16 9NR

1,259 Sq Ft / Leisure / Restaurants / Cafes

For Sale - £75,000.00

Available - Last updated: 23 July 2019

The subjects comprise two, 2 storey mid terraced former dwelling houses which have been amalgamated to form the current property with restaurant space on the ground floor and overflow restaurant space, customer toilets and kitchen on the first floor.

The main walls are of solid stone construction whilst the roof over was pitched and overlaid in tiles.

The premises can accommodate up to 60 covers.

Location

The university town of St Andrews is situated on the north east coast of Fife approximately 25 km (15 miles) south of Dundee, 56 km (35 miles) east of Perth and circa 80 km (50 miles) north east of Edinburgh.

The town has a resident population of some 25,000 persons which is boosted by an influx of approximately 8,000 students during term time.

Additionally, St Andrews is known throughout the world as the Home of Golf and is an important historic town which ensures a healthy flow of tourists all year long.

The subjects front Crails Lane a pedestrian thoroughfare running between Market Street and South Street within the centre of the town.

Accommodation

Ground Floor - Reception and Bar with Dining Areas - 55.26 sq m  (595 sq ft)

First Floor - Additional Dining Area, Preparation Area, Kitchen and Toilet Facilities - 61.71 sq m  (664 sq ft)

Total - 116.97 sq m  (1,259 sq ft) 

Terms

RATEABLE VALUE - The subjects have been assessed for rating purposes at a Rateable Value of £31,200.

The unified business rate for the 2019/2020 financial year is 49p.

LEASE DETAILS - Our client has a lease agreement over the property until 2nd March 2033 at an annual rent of £54,800 per annum.

Further details on request.

BUSINESS - Our client has successfully operated from the premises for over 10 years and is now seeking to dispose of his leasehold interest for personal reasons.

TERMS - Our client is seeking offers in the region of £75,000 for their leasehold interest.

VAT - Prices are quoted exclusive of VAT (if applicable).

ENERGY PERFORMANCE CERTIFICATE - Awaiting further details.

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 and 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.  

Specification

  • Rare opportunity to acquire established leasehold restaurant business, within central St Andrews.
  • Currently trading as ‘New Dynasty’.
  • Lease expiry 2nd March 2033.
  • Price £75,000

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale £75,000.00 NA

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Contact agents

Jonathan Reid

Shepherd Commercial

01738 590065



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