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For Sale – Pub with Investment Income and Development Opportunities, Saltcoats

4-8, Raise Street, Saltcoats, KA21 5JU
For Sale, £315,000
Type: Purchase

Summary

  • • Central position in Saltcoats Town Centre
  • Detached building next to Saltcoats railway station
  • No 4 - takeaway (ex-chip shop) producing rent of £7,800pa
  • No 6 - upper floor development opportunity to convert in to two flats
  • No 8 - long established, family-owned pub with excellent growth potential
  • Land – rear land suitable as a car park, yard, or, for future development
  • Consideration given to sub-division of various parts
  • Price – offers over £315,000 are invited

Location

Raise Street is a mixed commercial and residential location within Saltcoats Town Centre, occupying a prominent position next to the north platform of Saltcoats railway station.

Saltcoats is located within the North Ayrshire region around 33 miles southwest of Glasgow and forms part of the ‘Three Towns’ are alongside Stevenston and Ardrossan, which have a combined population around 35,000 persons.

Description

4-8 Raise Street, is an end of terraced building of traditional construction, contained over two floors and containing the following:

4 Raise Street

A single fronted shop with a modern pvc frontage, historically traded as a ‘fish and chip’ shop and now occupied as a hot food takeaway. The shop is leased at present on a rolling annual basis, with a passing rent of £7,800 per annum.

6 Raise Street (First Floor)

The first floor has been stripped back to a shell internally awaiting future development. Previous planning was obtained under reference 06/00293/PP for its conversion into two, two-bedroom flats, each contained over first and attic floor levels. The planning has since lapsed.

8 Raise Street (Victoria Bar)

The ‘Victoria Bar’, is a self-contained public house premises, contained over the ground floor with a traditional bar area a raised lounge with open fire towards the rear, having cellar accommodation built below it. The building extends into a single storey projection, containing toilets. There is an external smoking/seating area.

Car Park/Yard

4-8 Raise Street has a car park/yard to its side and rear, with gated entry and finished in hardcore surfacing with boundaries to the railway, a public car park and housing. The site has potential for a variety of uses and possibly residential development, subject to obtaining the necessary Local Authority consents.

The ‘Victoria Bar’ is long established in Saltcoats Town Centre, having traded since 1965 and operated by the Montgomery family since then. It is a traditional wet sales pub, open seven days between 1130am and 11pm although licensed until 1am Monday to Saturday and 1230am on a Sunday. Trading figures can be made available to genuinely interested parties.

The property extends to the following gross internal floor areas:

4 Raise Street (shop) 20 sqm (215 sqft)
6 Raise Street (First floor) 90 sqm (969 sqft)
8 Raise Street (pub) 100 sqm (1,076 sqft)
Total: 210 sqm (2,260 sqft)

The land/yard to the side and rear extends to 710 sqm (0.18 acres), or thereby.

4 Raise Street has a rateable value of £1,850 whilst 6 Raise Street is valued at £7,500. Both properties qualify for 100% rates relief, subject to occupier status.

Offers over £315,000 are invited for our client’s heritable interest in the property to include the fixtures, fittings and goodwill of the pub business.

Consideration may be given to sub-division of the property and sales on an individual basis.

EPCs available upon request.

Each party to be responsible for their own legal costs incurred.

Downloads

Site Plan: Download
Brochure: Download

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Contact Details

Branch: Ayr
Telephone: 01292 286974
Email: Anthony.zdanowicz@dmhall.co.uk
Agent Bio: View here
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