Description

LOCATION

The Three Lums, named after the three universities in Aberdeen, The University of Aberdeen, Robert Gordon University, and the Northeast Scotland College, is located in the Mastrick and Northfield neighbourhood. This is a residential location, with a mix of housing types, including private houses, local authority, and former local authority areas. 

This is a highly accessible location, only a few miles west of the core Aberdeen city centre and ideal for a community bar/restaurant.

The Three Lums is adjacent to a community Co-Op, pharmacy and carry out facility. This is a busy community shopping facility and The Three Lums benefits from its own car park.

DESCRIPTION

The Three Lums is a purpose-built community bar. The building is a single-storey structure, with a flat mansard roof. There is a large, dedicated car park for approximately 20 cars.

ACCOMMODATION

We estimate the gross internal floor areas to be 449.12 sq. m. (4,833 sq. ft.).

The accommodation internally is as follows:

Access

Set to one side. There is an attractive timber bar servery,  There are two separate accesses from the front of the premises. One leads into the lounge bar and the other leads into the public bar.

Lounge Bar

Lounge bar with traditional decorations throughout. There is a mix of fixed back seating, supplemented by loose tables and chairs. A bar server is set to one side, and we would estimate total seating for approximately 60 persons.

Public Bar

With separate access. The public bar has traditional decorations and a mix of fixed back and loose seating.  The bar server is set to the rear.

Kitchen

A commercial kitchen is situated in a central location between the public and lounge bars.

Customer Toilets

Ladies and gent’s customer toilets, with dual access from both the public and lounge bars. Accessible toilet situated off the lounge bar.

Other/Services

Staff area with WC, stores, manager’s office and beer cellar.

EXTERNAL

Car Park

Dedicated car park with space for approximately 20 cars.

Beer Garden

There is a wide pavement to the front of the premises, which would be suitable for external seating.

SERVICES

We understand the property is connected to mains water, electricity, gas, and drainage. We understand that there is a gas fired central heating system.

RATEABLE VALUE

The subjects are entered in the valuation role with a current Rateable Value of £50,000 from 1st April 2023. A new occupier has the right to appeal the Rateable Value.

GROUND LEASE

The premises are held on ground lease until 14th May 2079 (approximately 55 years remain). There is a potential option for a tenant to extend the lease for a period of 20 years at expiry.

There are rent reviews at 5 yearly intervals, where the minimum and maximum rents are reviewed. The last review undertaken was in 2015, when the turnover was higher than the present turnover. The rent is reviewed to 7% of net of VAT sales. The current minimum rent (fixed in 2015) is £55,253 per annum. There is potential for a rent reduction at the rent review in 2025, dependent upon the level of sales being achieved at the rent review date.

THE BUSINESS AND OPPORTUNITY

The Three Lums is a local public house, operated under management by Mitchells and Butlers plc. The business is being marketed as a going concern, and certified turnover information will be provided, although profit and loss accounts are not provided.  

Current annual sales are £511,264 net of VAT, split approximately 87% wet and 13% food and ancillary.

An opportunity exists for an incoming tenant to take over the lease, potentially enhance turnover through local knowledge and local initiatives, to operate this popular public house at the heart of a community.

PREMIUM PRICE

Our clients are seeking offers over £50,000 for an assignation of their leasehold interest, to include all fixtures, fittings, furnishings, and equipment. Stock and trade will be additional and paid for at the date of entry.

EPC

A copy of the Energy Performance Certificate is available on request

ANTI MONEY LAUNDERING

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, came into force on the 26th June 2017. This now requires us to conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.

Floor Plans

• Floor Plans

  

  

Dataroom

There are no property datarooms available