St Andrews, a historic town and tourist destination, is host to Scotland's oldest university which ranks among the top five in the UK; the town is however best known as the Home of Golf.
The resident population is around 17,000, this being greatly boosted by students and university staff and by both UK and international visitors throughout the year. In addition the town also serves an extensive catchment area in rural north- east Fife. There are good communication links by road to Edinburgh, Perth and Dundee with a mainline station nearby in Leuchars.
The subjects occupy a prominent position within the town centre off the south side of Alexandra Place opposite its junction with Hope Street in a well-established area with surrounding properties being a mix of traditional residential and other complimentary restaurants and licensed premises; the popular Students Union lies a short distance to the east.
Extensive Licensed Restaurant premises contained on the lower ground floor of an impressive three storey and attic end terrace building of traditional stone and slate.
The internal accommodation is arranged over one floor with the main restaurant, a separate private dining room together with the usual kitchen facilities and ancillary accommodation.
To the rear lies an extensive garden area with the total site extending to around 0.091 Ha (0.224 acres); this provides potential for further development or redevelopment, all subject to obtaining the necessary planning consents.
We estimate the gross internal floor area of the subjects to be around 190 sq m (2,045 sq ft) with the existing accommodation as follows:-
Reception/Waiting Area and Bar Servery, Main Restaurant (60 covers), Private Dining Room (15 covers), Kitchen with Wash-up area, Ladies and Gents Toilets, Rear Hall, Office, Staffroom/Toilet and Large Store.
We have consulted the Fife Assessors website (www.saa.gov.uk) and note that the premises are entered in the current Valuation Roll as follows:
Rateable Value: £26,800
The Uniform Business Rate in Scotland for the financial year 2016/17 is 48.4p in the pound. Under existing legislation a new occupier has the right to appeal against this assessment.
A quality restaurant of this type seldom comes to the market in St Andrews and the availability of these premises for sale offers an excellent opportunity to continue a similar business or alternatively create an entirely different style. While the subjects are not being offered for sale as an on-going business they are nonetheless available on a fully fitted and equipped basis to include furniture, fittings and equipment.
Each party will be responsible for their own legal costs incurred in connection with the transaction,
VAT: All prices/rates quoted are exclusive of VAT however our client reserves the right to charge VAT if applicable.