The subjects comprise traditional licensed premises arranged over the ground floor within an end terraced two storey building which dates originally from circa 1864. There is a substantial flat arranged over the pub and within an extension to the rear although, due to site contours, it is accessed via ground level from Princes Street. Arranged to provide a lounge, dining room, kitchen and bathroom in the original building, the rear extension contains three double bedrooms one of which has an en suite shower room. The current owners utilise the flat for office/storage accommodation associated with an alternative business interest. As such the extensive nature of the accommodation offers potential for alternative uses other than residential. Internally, the public house retains many original features and is a traditional “local”. A horseshoe bar servery is centrally located and perimeter wall seating is installed. To the rear, and with the benefit of a separate external access, is the lounge bar which is utilised for private functions. It has been utilised for dining in the past as a modern catering kitchen has been installed in the recent past. Completing the accommodation are male and female toilet facilities, a beer cellar and ancillary stores.
Location
The subjects are located on the West side of Barnton Street, immediately to the North of the junction with Princes Street, on the Northern periphery of Stirling town centre. Stirling is situated approximately 30 miles Northeast of Glasgow on the M9 motorway whilst Edinburgh is circa 35 miles Southeast.
Terms
THE BUSINESS
The current owners have operated the business for over seven years and is being sold due to other business interests. Income is derived from wet sales only and the pub has a good reputation for beer/lager and indeed has won the “Best Bar None” Award the last four years, promoting responsible management and operation of licensed premises. Attracting an older clientele, the bar is also linked with various clubs in addition to the local football team. Name plaques of regulars past and present are a feature within the public bar and the business is well supported locally. Regular live music events are held and there is a weekly quiz night. A catering kitchen has been installed and could be utilised for the provision of food. We are advised weekly sales are in the region of £3,000, net of VAT and further information is available upon request.
PRICE
Our client may consider an outright sale and offers are invited for the property, goodwill, fixtures and fittings, with stock available over and above at valuation. Fixed Price : £195,000
LEASE TERMS
Flexible terms are available under a traditional lease for a period open to negotiation which will incorporate rent reviews at regular intervals. The lease will incorporate a purchase agreement with the landlord in relation to draft and bottled beers. The proposed rental is £16,000 per annum, net of VAT and as would be expected under the terms of a traditional lease, the incoming tenant will be required to demonstrate their ability to fulfil their obligations under the lease, in particular financial obligations, and references/deposits will be requested at an early stage, without exception.
Specification
- Prominent corner position, close to town centre
- Genuine potential for hands on operator to develop business
- Scope for food sales
- Extensive, self contained owner’s flat, currently providing office/storage accommodation
- To let/may sell
- Offers invited