Well-let retail investment, 8 Gallowgate Street, Largs, KA30 8AA

Attractive small bookmaker investment

Location

The property is located in a prominent position close to the corner of Gallowgate and Main Streets, close to the centre of the town, the promenade, and the harbour.

Surrounding occupiers include Co-op; Costa; and other local and national traders, although the majority of  traders are in the licensed and leisure sectors, including the world-famous Nardini’s Ice Cream Parlor and many others

Largs, population circa 12,000, is itself a busy seaside town located approximately 30 miles south-west of Glasgow on the main A78 Clyde Coast route.  Historically a holiday destination for the industrial West of Scotland towns, it is still geared largely to tourism.  The town is served by the Glasgow suburban rail network, and is the terminal for the ferries to Great Cumbrae island.

Accommodation

The premises comprise  the ground floor of a three storey traditional tenement style building along with several single storey rear extensions.  The upper floors of the building are in residential use. 

Externally the property has the tenants standard frontage of a full height aluminium framed display window with recessed single entrance door  all being surmounted by an externally illuminated fascia board.

Internally the property is fitted out in standard ‘Ladbrokes’ style, with a large public area with televisions and gaming machines, a counter and staff area to the rear and customer toilets.  The areas which form the rear extension are used for storage.

We understand that the dimensions and accommodation are as follows:

Ground                  -               145.14 m² (1,562 sq.ft.) (NIA)

Terms

The property is currently leased to Ganton House Investments Limited, trading as Ladbrokes, for a term extended to expire on  24^th March 2030 on full repairing and insuring terms  at a current rent of £16,100 per annum subject to upward only review in March 2020 and 2025.

There is a tenant break option as at March 2025 on giving not less than six months prior written notice.   There is no Schedule of Condition restricting the tenants repairing obligations.