Public House Investment

t/a The Portland Arms, 1169 Shettleston Road, Glasgow, G32 7NB

• Long established public house investment opportunity
• Same tenant for approximately 15 years
• Rental income £30,000 per annum excluding barrelage income
• Well performing ‘locals’ bar. 214 Barrels with draught beer tie
• Prominent trading position within heart of Glasgow’s east end
• Within busy residential & commercial area
• Ground floor 2,013 SqFt plus basement cellar/store 1,906 SqFt

LOCATION

The subjects benefit from a prominent trading position on Shettleston Road, a main arterial route forming part of the A89 that runs between Glasgow city centre and its eastern suburbs.

The subjects lie on the north side of Shettleston Road between its junctios with McNair Street and Fenella Street within the bustling Shettleston area within Glasgow’s East End, approximately 4 miles east of the city centre.

The subjects lie within a densely populated residential and commercial area and nearby occupiers include Shettleston & Tollcross Credit Union, Subway, Well pharmacy, Ladbrokes and Dunlop’s Auto Shop.

The area is well served by public transport links with Shettleston Railway Station located a short walk away as well as numerous bus services that operate on Shettleston Road.

THE PROPERTY/ DESCRIPTION

The subjects form ground floor and basement levels of this single storey terraced property under a combination of flat and pitched roof.

Internally, the subjects comprise a large open plan traditional public bar with a large island bar/servery in the centre of the room. Seating is positioned round the walls with fixed banquet seating booths and loose tables and chairs, and there are also 4 separate snug areas.

Ancillary areas include male and female toilets, kitchen and a large basement cellar with ancillary storage areas.

SIZE

We understand the subjects have a gross internal area as follows:

Ground Floor – 187.05 SqM (2,013 SqFt)

Basement – 177.10 SqM (1,906 SqFt)

Total – 364.15 SqM (3,920 SqFt)

LICENSES

The business trades with the benefit of a premises licence. 

BUSINESS RATES

The subjects are entered in the current valuation roll as having a rateable value of £27,300.

INVESTMENT SUMMARY

The property has been let out to the same tenant for the last 15 years approximately The property is held on a full repairing and insuring (FRI) head lease on the following terms:

Tenant: Shettleston 2021 Limited

Term:  New 7-year lease from 6^th September 2021

Passing Rent: £30,000 p.a.

There is also a draught beer tie with TCB which a new landlord could benefit from.  Current barrelage is 214 barrels.

A copy of the lease can be made available to interested parties.

The existing business is operated by the current tenant and is unaffected by the investment sale.

TENURE/PRICE

Freehold – Our clients are seeking offers over £275,000 for this investment property which provides a gross initial yield of circa 11% excluding any barrelage income which significantly increases the yield.