This property is no longer on the market
Restaurant
Property description & features
- Tenure: Freehold
- Substantial 205sqm Restaurant Premises with 2 Bedroom Flat Above
- Restaurant Previously Let at £18,000pa - Flat Currently Tenanted at £7,500pa
- Incredible Investment Opportunity
FOR SALE BY ONLINE AUCTION 18TH APRIL 2024 AT 9.00AM. Fantastic opportunity to purchase substantial restaurant premises (circa 205.8sqm) with 2 bedroom flat above. Located in town centre location close to ferry terminal. Amazing opportunity for someone to take on and enhance this business opportunity.
Online Property Auctions Scotland are delighted to present this fantastic development opportunity. An extremely attractive opportunity to purchase this substantial restaurant business with full 2 bedroom flat above.
The restaurant is offered with vacant possession. The flat is offered with a tenant paying £625 pm / £7500 pa. The flat can be sold with vacant possession also if required.
205sqm restaurant with adequate space for 60+ covers. Spacious, fully equipped commercial kitchen and alcohol licence. The restaurant alone had been previously let at £18,000 pa. Potential total rental income over of over £25,000 per annum.
This is an ideal purchase for the investor with a potential joint yield of 16% on guide price. The premises may also lend themselves to residential development (STPP) Occupying a wonderful position overlooking Dunoon's East Bay yet close to Dunoon Town Centre. Within easy reach of the Ferry terminal to Gourock and adjacent to Morrison's supermarket.
The restaurant comprises waiting area with comfortable seating and takeaway area, large dining area, very large commercial kitchen which comes fully equipped and ready to go. Male, female and disabled W.Cs. In addition, there is generous storage. There is an enclosed outside seating area which could be developed and offers outside dining or drinks option. Double glazing and gas central heating is in place.
The restaurant is in good order throughout but is waiting for the new owner to grab the opportunity and reinvent this fantastic space.
The sale also includes a full 2 bedroom flat above the restaurant. This comprises, lounge, kitchen, bathroom and 2 well-sized double bedrooms. The flat benefits from double glazing and gas central heating and enjoys open views over the bay. The flat can be offered either with or without tenant in place. The flat is currently returning £625pm / £7500. This gives flexibility for the investor or owner operator.
Dunoon is the main town on the Cowal peninsula, with a population of roughly 8,000 making it one of the largest towns in Argyll and Bute, second only to Helensburgh. The town has no shortage of amenities and tourist attractions, including the Cowal Highland Gathering which boasts an attendance of roughly 23,000 people during late august every year. There is also the Castle House Museum built in the 1800s and the Dunoon Castle Ruins, dating back to the 13th century.
There are also great local attractions year round for those who permanently reside in Dunoon, with a cinema only a short walk away from the property, as well as the swimming pool and leisure centre both recently refurbished.
There is also easy access to central Scotland via the ferry route from Dunoon's picturesque promenade, only half a mile from the cottage, which provides travel to Gourock.
To view legal documents for all properties, and to register for our online auctions please visit our website.
Purchases are subject to a Buyer's Premium. There may also be additional fees on certain properties. Please refer to the Articles of Roup/ Special Conditions in the Legal pack to confirm. All prices quoted are exclusive of VAT.
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 241941. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Online Property Auctions - Glasgow.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 31, 2024
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.