Bloomgate, Lanark, Lanarkshire, ML11

Town Centre Location
Large Building
Public House / Restaurant & Letting Rooms
Held On F.R.I Lease
Expiry: February 2035
Passing Rent: £36,000p.a.
Price: £325,000

Location

The property is situated on the south side of Broomgate at its junction with High Street within the town centre of Lanark west of its junction with Wellgate within the main retail parade of Lanark's town centre. Lanark is a busy market town located approximately 20 miles south east of Glasgow and 30 miles south west of Edinburgh. The town has a resident population of c.10,000 with a further catchment of 55,000 persons.

Property

Originally constructed in 1790, The Clydesdale Inn acted as a tavern and guest house for travellers heading to and from Glasgow. Today the Clydesdale Inn has been extended with a single storey function hall to the rear along with the existing structure offering large restaurant / dining area, kitchen, bar and snug area. The property is also undergoing renovations to the upper floors to reinstate the original letting rooms to provide further amenities to the town.

Lease Summary

The property is held on a full repairing and insuring head lease on the following terms;

Tenant: Pint of Lanark Ltd
Expiry: 13th February 2035
Review: February 2030
Passing Rent: £36,000p.a.

Price

The property is available on a freehold basis for £325,000

V.A.T

We have been advised the transaction will not be subject to V.A.T

Legal

Each party shall bear their own legal costs incurred in the transaction

Viewing

Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time