The subjects are formed to the south of Young Street, at its junction with Caledonia Road and a short distance from Glasgow Street, which forms one of the main thoroughfares within the town.  The surrounding area is generally characterised by reasonable quality residential accommodation with other commercial occupiers located to close by.

Ardrossan itself is one of the principal towns within Ayrshire with the main access to the town being the A78 which is formed between Greenock to north and Prestwick to the south.

The subjects comprise part of the ground floor of a traditional two-storey cornered tenement building, constructed of solid sandstone and having a pitched and slated roof.  The subjects have a traditional public house frontage incorporating timber framed single glazed windows, with the main feature entranceway being at the corner of the building.
 
Internally, the subjects are fitted out to a good overall standard and have been laid out to form public bar, lounge bar / function suite, male and female toilet accommodation, kitchen, disabled toilet and office, with in addition, cellarage at basement level.

We understand that the subjects operate under a full public house  licence and current opening hours are as follows:

Mon – Wed:      11am – 12 midnight
Thu-Sat:  11am – 1am
Sun:                  12.30pm – 12 midnight

We have been provided with turnover figures as well as barrellages in respect of the property.  The subjects operate successfully under the current licence holder with trading figures being in line with market expectations. Trading information can be made available to interested parties, upon written request via the Sole Selling Agent.

The subjects were let for an initial period of 3 years from 4 January 2005.  We understand that this has subsequently been extended for a further 3 years until January 2011. The current rent passing is £28,000 per annum, payable monthly in advance.  There is a joint repairing obligation in respect of the upkeep and maintenance of the building and there is also a rolling 6-month tenant’s break option incorporated within the lease documentation.

Given the flexible lease arrangement, there is the opportunity for an investor / purchaser to acquire the premises and, on expiry of the existing lease, operate the establishment.

Alternatively, there is the opportunity to restructure the lease with the existing tenant to improve the security of income.