Public House 18 Glaisnock St 3,259 sq ft Retail Property Cumnock KA18 1BY £150,000 (£46.03/sq ft)

Offers in the region of £150,000 are invited for the Council’s heritable interest in this property.
The property comprises an attractive C listed sandstone building over 2 floors and attic under a pitched slate roof with a single storey extension to the rear. Work to install a new gable wall has recently been completed following the demolition of the adjacent property.
Internally, the ground floor is leased for use as a public house and comprises a large open plan bar area and separate ladies, gents and disabled toilets. There is a small basement cellar area as well as ground to the rear of the property which is used as a beer garden and service area.
The public house is subject to a full repairing and insuring (FRI) lease to Dagmar Inn Ltd until 16 July 2040 at a rental of £7,500 per annum for 2 years following a rent-free period of 6 months from the date of entry. At the end of this 30 month period, the landlord will receive a rental of £15,000 per annum with upwards only rent reviews to the market rent at 5 yearly intervals. The building is being sold subject to this lease.
There is planning consent in place for one flat on the first floor and another at attic level, which are accessed from a separate entrance at the side of the building. The previous owner has sub-divided the space to create 3 separate flats. The upper floors are in a shell condition and require significant work to bring them back into use.