Shepherd Chartered Surveyors is bringing to market prime hospitality premises in St Andrews let to T-Squared Social, an internationally recognised leisure and entertainment operator backed by Justin Timberlake and Tiger Woods, for sale as an investment opportunity.
The university town of St Andrews is situated on the northeast coast of Fife, 15 miles south of Dundee, 35 miles east of Perth and 50 miles northeast of Edinburgh. It is known throughout the world as the home of golf – it will host the British Open in 2027 – and is an important historic town which ensures a healthy flow of tourists all year long.
The hospitality premises are situated at the northern extent of North Street on the fringe of the main commercial centre and adjacent to the university campus. The surrounding area comprises a mix of retail, office, licensed and residential properties.
The 3,345 sq. ft. premises form part of the Category B Listed building formerly known as The New Picture House, understood to date from 1931 and now operated by T-Squared Social as a sports and entertainment venue.
Access is via a ground floor stairwell entrance from North Street with the principal accommodation located on the upper floors.
The accommodation comprises an open-plan restaurant and bar providing 70 covers, together with a bar and waiting area offering additional seating. The property also benefits from a fully fitted kitchen, storage areas, office accommodation, and WC facilities. Externally, there is a small outdoor seating area to the front elevation.
You Might Also Like:
The subjects are let to TS SA Property Holdings until 2049 with an option to extend to 2079 at an annual rent of £45,000 with five yearly upward only rent reviews starting from the 2029.
Jonathan Reid, partner at Shepherd, said: “We anticipate much interest in these hospitality premises from property investors seeking to expand their prime property portfolios.”
Offers over £650,000, representing a Net Initial Yield of 6.59%, are invited. The tenant has right of first refusal to purchase the opportunity. Interested parties should contact the sole selling agent on tel 01382 878005.
