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Claremont House, 130 East Claremont Street, Edinburgh
£89,995 Offers over
Bedrooms
COMMERCIAL PREMISES - PUB WHICH IS OPEN AND TRADING The Black Bull Inn is currently trading from this commercial, 19th century property, traditionally constructed with stone and slate roof. It has two public areas; the lounge bar and the public bar. The cosy, atmospheric public bar, with fireplace, is traditionally furnished with bar gantry, pool table and dart board, whereas the bright lounge bar is mostly used for private parties, gatherings etc. Storeroom, ladies and gents WC, large cellar and garage completes the commercial accommodation. In addition, it benefits of having a large plot to the rear and side, which is used as a beer garden.The property presents itself with enhanced development potential, with the correct planning application and vision, this could be used for a plethora of commercial/residential ventures(STPP)....what would you do?!This is a unique opportunity to purchase a substantial commercial and residential property within the same footprint and we would strongly recommend that any interested parties carry out an early viewing.The Business The current owner has been in business for 26 years trading as a freehouse with the annual barrelage around 100 or thereabouts.The Black Bull Inn is a traditional pub enjoying a strong local clientele with much repeat trade. The Inn supports local football, domino and pool teams. The business is the ideal opportunity for a couple who are interested in the hospitality business, entertainment business or catering or the property could lend itself to a number of different opportunities!Full accounts are available upon request.Licences The Black Bull Inn benefits by having a Premises Licence with extensions permitting the following opening hours:Monday - Wednesday: 11am - 12 midnightThursday - Saturday: 11am - 1amSunday: 12.30pm - 12 midnight.Services Electric and water mains serviced with gas central heating throughout.Fire Risk AssessmentWe have assumed that a suitable and sufficient Fire Risk Assessment has been carried out. Under the Regulatory Reform (fire Safety) Order 2005 this assessment needs to be recorded in writing where there are five or more employees, the property is under enactment of a licence or where an alterations notice has been served.TenureFreehold ExtrasExtras will be fully discussed in detail at formal offer.THE FLATThe spacious three bedroom (first floor) flat points to the enduring appeal of a business owner or investor. The flat has been designed to maximise the natural available light, creating a modern ambience. Surprisingly, the room dimensions are generous and the quirky accommodation has been arranged to offer flexibility.The entrance to this first floor flat is through an entrance porch with a handy built in cupboard. The accommodation comprises: a welcoming hallway that leads to all apartments, a good sized square lounge to the front of the property offering flexibility in furniture configuration. The large kitchen has an array of wall and base units, gas hob and electric oven, with space for a breakfasting table. There are three, good-sized double bedrooms; the master with a built in cupboard. The bright shower room was recently renovated with a white suite. Double glazing and gas central heating ensure this is a warm and fuel efficient home to live in. Further storage is available in the loft.There is ample council owned parking to the rear of the property.
By appointment through McEwan Fraser Legal on 0141 404 5474
McEwan Fraser Legal are open 7 days a week: 8am - Midnight Monday to Friday & 9am - 10pm Saturday & Sunday to book your viewing appointment.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
Claremont House, 130 East Claremont Street, Edinburgh
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