Page 12 - Shepherd Commercial Auctions - Catalogue 04/05/2023

Lot 7 Airlie Arms 10 Dundonald Street, Dundee, DD3 7PW Licensed Trade Investment Opportunity
Features
• Prominent corner location in city centre location • Rental income of £10,000 per annum
• FRI lease with personal guarantor
• Fully Furnished Pub
Accommodation
The subjects comprise a popular local public house investment in Dundee. The pub which trades as “Airlie Arms’ is well positioned in close proximity to both Dundee Football Grounds and has an established client base locally having traded successfully for a number of years.
The subjects will be sold as a fully furnished pub (Tables, chairs, fixed seating included). The subjects extend to approx. 171.50 sq. m. (1,846 sq. ft).
Location
Dundee, Scotland's fourth largest City with a resident population of circa 150,000 persons (National Records of Scotland), is located on the East coast of Scotland approximately mid-way between Aberdeen (circa 105 kilometres (65 miles) to the north) and Edinburgh (circa 96 kilometres (60 miles) to the south).
The city benefits from excellent transport links, with daily flights to London (City Airport) and Belfast (from 2020) and rail links into London (Kings Cross).
The subjects are located on the corner of Dundonald Street and Clepington Street approximately 1.5 km north of Dundee City Centre.
Tenancy
The pub is currently let until December 2029 with an outstanding rent review as of December 2022 still to be settled. The current passing rent is £10,000 per annum,
The landlord is also entitled to a 50% share of machine income. A barrelage income is also generated by the current landlord and could potentially be earned by the purchaser assuming they also have connections to the supplier. The purchaser should satisfy themselves whether a barrelage income could be generated by reference to the terms of the lease.
*Guide Price £88,000 (plus fees if applicable)
12 * Please see Buyer’s Terms for definition of guide price and auction fees
Auction Type
Unconditional Sale - The buyers fee is 2.4% inc VAT (2% plus VAT) subject to a minimum of £2,400 inc. VAT (£2,000 plus VAT).