FREEHOLD LEISURE INVESTMENT FOR SALE – TILLICOULTRY

For Sale
  • OFFERS OVER £150,000
  • 1,584 FT2
  • LEASED UNTIL 2036 WITH NO BREAK OPTION
  • POPULAR HILL WALKING AND TOURIST DESTINATION
  • 6% INITIAL YIELD
  • RENT REVIEW EVERY THREE YEARS TO MARKET RENT WITH MINIMUM 2% ANNUAL INCREASE

LOCATION

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Tillicoultry is a town in Clackmannanshire, Scotland. Tillicoultry is usually referred to as Tilly by the locals. One of the Hillfoots Villages on the A91, which runs from Stirling to St. Andrews, Tillicoultry is situated at the southern base of the Ochil Hills, which provide a spectacular backdrop.

There are a variety of shops and restaurants within Tillicoultry as well as Sterling Mills Outlet Shopping Village which provides occupiers such as Nike, Home Bargains, Mountain Warehouse and Sterling Furniture Warehouse.

The subjects are located on the northern side of Glassford Square at its junctions with Lower Mill Street.

DESCRIPTION

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The subjects comprise a public house within a two storey building of stone construction with a rendered finish surmounted by a pitched and slated roof.

Internally the ground floor offers bar area together with two further seating areas, storage, cellar and male w.c. The first floor provides lounge/seating area, kitchen and female w.c.

LEASE DETAILS

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The property is currently leased at £13,000 per annum to an established operator on a 15 year lease with no break options. The landlord holds a three month deposit of £3,250 with the rent being paid yearly in advance.  There will be a rent review every three years with a minimum annual increase of 2% or to market rent whichever is greater.

First rent review will be April 2024 increasing to a minimum £13,796 per annum.

PROPOSAL

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Offers over £150,000 are invited for the Heritable interest.

FLOOR AREAS

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From sizes taken during our inspection we calculate the subject property, measured in accordance with the RICS Code of Measurement Practice (second edition, January 2018) to extend to the following approximate gross internal area (GIA):

147.24m2/1,584ft2

PLANNING

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All queries in relation to redevelopment/ reconfiguration of the subjects should be addressed to Clackmannashire Council Planning Department.

CLOSING DATE

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A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent.  We reserve the right to let the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the lease of the property.

VAT

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All prices, premiums and rents quoted are exclusive of VAT.

RATING

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Rateable value £14,000.

EPC

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A copy of the EPC will be available upon request.

PUBLICATION DATE 10/05/2022

Price:Offers over £150,000
Address:Woolpack Inn, Glassford Square
City:Tillicoultry
Postcode:FK13 6AU
Floors:2
Square Feet:1,584
Parking:Nearby
Property Type:Freehold Leisure Investment
Lot size:1,584 sqft
Tagged Features:

Location Map