Prime Portree Tenanted Commercial Investment

DESCRIPTION

1 Bosville Terrace is an attractive semi-detached commercial property extending to approximately 66 m² (710 sq ft), occupying a prominent trading position in the heart of Portree. Set in an elevated position with appealing views over the harbour, the property features a first-floor café/restaurant dining area.

Dating from around 1920, the building was converted from a residential to a restaurant in 2014. Recently the building has been modernised in and is well presented throughout, with practical service areas suited to its current café and restaurant use.

The property is offered for sale subject to an existing tenancy and is currently occupied by Rice & Noodles, a popular established restaurant, under a 12-year lease granted in 2020. This provides an incoming purchaser with the benefit of an established commercial tenant and immediate rental income. Further lease details are available on request.

REASON FOR SALE

The current owners who have owned and redeveloped the property since 2006, are selling this attractive commercial investment as part of a consolidation of their wider property portfolio.


TRADE

LEASE
The property is offered for sale subject to an existing 12-year Full Repairing and Insuring (FRI) lease, granted in 2020 which runs until 2032 at an annual rent of £30,000, with provision for an 8% rental uplift thus the current rental figure as of 2026 is £32,000.

The premises are currently occupied by Rice & Noodles, a popular established restaurant, providing an incoming purchaser with the benefit of an established commercial tenant and immediate rental income.

Full lease details are available from the selling agent.

LOCATION

The Isle of Skye is one of Scotland’s best-known tourist destinations, attracting visitors throughout the year for its scenery, outdoor activities and cultural attractions. Portree is the island’s largest settlement and principal commercial and tourism centre, providing a wide range of shops, cafés, restaurants, accommodation and visitor services. The town’s attractive natural harbour is a focal point for tourism, with fishing boats, pleasure craft and visiting cruise ships contributing to visitor activity.

As the main hub for those travelling around Skye, Portree benefits from a strong tourism economy and high levels of visitor footfall, supporting demand for well-located commercial premises. The property occupies a prominent central position within the town, making it well placed to benefit from both local and visitor trade.


THE PROPERTY

The property is a traditional stone-built, two-storey semi-detached building dating from the 1920s, with an attractive pitched natural slate roof. The exterior walls are harled and painted white, complemented by dormer windows with a wood-stained finish. All ground-floor windows are UPVC, while traditional cast-iron guttering adds to the character and period appearance of the property.

Ground floor
The street-level entrance opens into a welcoming reception area with a reception/small bar servery, from which a timber staircase leads to the first-floor open-plan dining area. Numerous windows provide excellent sea and harbour views, creating a bright and attractive dining environment.

Additional features include a striking slate feature wall and a rear-facing window overlooking the natural rock formations behind the property.

At ground-floor level, the customer facilities comprise a male WCs together with a separate accessible/female WC.

The kitchen is conveniently accessed from the reception area and is arranged in an L-shaped configuration, incorporating dedicated preparation, pot-wash and food service areas. The kitchen is modern, well equipped and benefits from a full commercial extraction system.

First Floor
The first-floor dining area provides approximately 28 covers and is attractively presented with a warm, contemporary Highland-style interior. The accommodation features timber dining tables, tartan-upholstered chairs and comfortable fixed leather banquette seating.

A striking slate-effect feature wall provides an attractive focal point, while the coombed ceilings, recessed lighting and extensive windows create a bright and characterful dining environment.

Timber balustrading surrounds the stairwell and complements the natural finishes throughout.

FINANCE AND LEGAL SERVICES

ASG Commercial Ltd is in touch with a variety of different lenders who can provide specialist finance. We will be delighted to discuss your financing requirements with you and make an appropriate introduction where appropriate. We also have many contacts in the legal profession who can assist in all legal matters arising.

SERVICES

The business benefits from mains electricity, water and drainage. Heating is provided by electric systems throughout the property, with LPG gas used for cooking. The property is fully double-glazed and complies with current fire safety requirements.

EPC RATING

This property has an Energy Performance Rating of G (148) reference number 2122-3352-4423-0000-3701.

TITLE NUMBER

The property has a title Number of INV5483.

PRICE

Offers over £350,000 are invited for the heritable property complete with trade contents, and lease granted in 2020 which runs until 2032.

OFFERS

All offers should be submitted in writing to ASG Commercial Ltd with whom purchasers should register their interest if they wish to be advised of a closing date, should one be set.

GROUNDS

The property occupies a distinctive site, with steeply rising ground to the rear.

To the side is an area of level ground incorporating bench seating and a purpose-built refreshment shack, which has previously been utilised for alfresco dining and the sale of ice creams and refreshments, providing useful additional outdoor trading space.

The property enjoys a central and prominent location within Portree, with a number of public car parks conveniently situated within easy walking distance.