Property Details

THE LEADBURN INN Peebles Road
Midlothian
Midlothian
, Howgate

£50,000 P.A.Premium Cost:£30,000

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PropertyDescription

LOCATION
Leadburn is a village which lies approximately 2 miles south west of Penicuik, 12 miles to the south of Edinburgh City Centre and 10 miles to the west of Peebles. The Leadburn Inn lies on the junction of the A701 Peebles Road and A703 Edinburgh to Moffat Road. This is an important and very busy junction for locals, commuters and tourists.

DESCRIPTION
The Leadburn Inn sits on the site of a former coaching Inn dating back to circa 1777. The Inn was completely re-built in the 1990s. The Inn sits in a prominent elevated site on the junction of the Edinburgh and Penicuik Roads. This is a destination restaurant bar where driving to and from the premises is an essential.

The accommodation is set over two levels with the entrance, bar/ restaurant, function suite and toilets over the ground floor with the owners accommodation on the upper floor.

The ground floor accommodation comprises a well fitted and laid out restaurant with bar area with magnificent views across the countryside. Ladies, gents and disabled toilet facilities are accessed from the entrance; a fully fitted commercial kitchen with preparation and storage areas and beer cellars.

The function suite is presently laid out as a soft play area for children who have a separate access as well as boys and girls toilet facilities.

The owners accommodation which has its own unique entrance comprises an extensive open plan living room/ dining room/ kitchen with panoramic views across the countryside; a mezzanine level which can be multi-functional; a master bedroom with dressing room and en-suite bathroom; an office; and separate utility room. There are three further bedrooms which can also be accessed from the rear of the building. At present the layout comprises a well-appointed triple room with en-suite facilities; a triple room, a separate bathroom; and a double bedroom with en-suite facilities.

The accommodation is ideal for owner occupation or for live-in staff quarters with a good standard of finishing and specification throughout.

Externally car parking is available to the front and side of the property for circa 50 cars.

THE RESTAURANT & BAR
The restaurant and bar areas are finished to a high standard to provide a convivial atmosphere and to encourage patrons to linger longer. The interior design and soft furnishings create an element of subdued elegance. At present the restaurant is laid for 80 covers. There are windows along the whole frontage of the restaurant creating a bright area allowing panoramic views across the countryside.

THE BUSINESS
The existing lease is due to expire in October 2018 with the outgoing tenants moving on. During their tenancy the business has been trading well generating a good reputation for good cuisine and beers. Due to its location and the need to drive to the Leadburn the business majors on food with alcohol being an addition.

This offers an outstanding opportunity for a professional hospitality operator to expand their existing business with the benefit of living accommodation on the premises.

TO LET/ FOR SALE
The Leadburn is available to lease or to purchase.

LEASE
Our clients are seeking a lease of 5 years or more on a full repairing and insuring basis.

RENT
At a rent of £50,000 per annum.

GOODWILL
There is a goodwill premium of £30,000 payable.

PRICE
Our client is seeking offers over £850,000 to acquire the freehold of the property.

RATEABLE VALUE
According to the Scottish Assessor?s Valuation Roll website (www.saa.gov.uk) the property has a Rateable Value of £34,000.

ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate is available on request.

LEGAL COSTS
Each party shall be responsible for their own legal costs.

ENTRY
Upon completion of a formal missive under Scots Law.

VIEWING AND FURTHER INFORMATION
By appointment through the sole selling agent, IME Property Ltd.

PropertyOverview

  • Property ID:P399
  • Postal Code: EH46 7BE
  • Status:For Rent, May Sell
  • Type: commercial
  • Class:7 (Hotels & Hostels)
  • Property Size:n/a sq ft
  • Price:£50,000
  • Premium Cost:£30,000

ExtraInformation

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Bill Adams

Bill Adams

If this property is of interest and you would like further details, or want to arrange a viewing, please contact our property agent on the following details.

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