Entirely let to tenant trading as Shimla Indian Restaurant
Let for 15 years from September 2018 (no breaks)
Includes one bed flat separately accessed from Market Street
Tenant in occupation for at least 9 years
Nearby occupiers include Tesco, Howdens, Jewson and Nationwide Crash Repair
VAT-free investment
Lot 61
Auction 11th July 2019
Rent £8,840 per Annum Exclusive
Status Sold
Price £90,000
Sector Restaurant
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
14 miles north of Dundee
27 miles north of St Andrews
70 miles north of Edinburgh
Roads
A90, A92, M90
Rail
Dundee Train Station
Air
Edinburgh Airport
Situation
Forfar is a historic market town located 14 miles north of Dundee and is the county town and administrative centre of Angus. The property is located on the west side of North Street, in a prominent corner position at its junction with Market Street and Carseview Road, about 0.5 miles north-east of the Town Centre. Nearby occupiers include Tesco, Howdens, Jewson and a Nationwide Crash Repair Centre.
Tenure
Heritable. Scottish Equivalent of English Freehold.
Location
Miles
14 miles north of Dundee
27 miles north of St Andrews
70 miles north of Edinburgh
Roads
A90, A92, M90
Rail
Dundee Train Station
Air
Edinburgh Airport
Situation
Forfar is a historic market town located 14 miles north of Dundee and is the county town and administrative centre of Angus. The property is located on the west side of North Street, in a prominent corner position at its junction with Market Street and Carseview Road, about 0.5 miles north-east of the Town Centre. Nearby occupiers include Tesco, Howdens, Jewson and a Nationwide Crash Repair Centre.
Tenure
Heritable. Scottish Equivalent of English Freehold.
Description
The property comprises a restaurant arranged on the ground floor with ancillary accommodation at basement level. The property benefits from having a one-bedroom flat at ground floor, accessed from Market Street. The property forms part of a larger building.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a restaurant arranged on the ground floor with ancillary accommodation at basement level. The property benefits from having a one-bedroom flat at ground floor, accessed from Market Street. The property forms part of a larger building.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Basement
Restaurant Residential Ancillary
121.01 sq m One Bedroom Flat 48.75 sq m
(1,303 sq ft)
(525 sq ft)
T. MAHMOOD t/a Shimla Indian Restaurant
15 years from 23/11/2018 until 22/11/2033 on a full repairing and insuring lease
