A “coffee shop investment opportunity” in Oban has been put up for sale, with offers over £150,000 sought.
The property at the eastern end of Stafford Street, opposite Oban Distillery and near the town’s North Pier, is being marketed by Shepherd Chartered Surveyors.
Shepherd noted the property is being sold by its owner with the “existing coffee shop”, Julie’s, “remaining as the sitting tenant”.
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The property agent said: “Stafford Street enjoys a high level of pedestrian footfall and connects directly to George Street, which forms part of the main A85 through the town centre. There is a good selection of both local and national operators in the immediate vicinity.
“The attractive ground-floor unit currently operates as a coffee shop set within a wider three-storey attached building of traditional masonry construction with the upper floors in residential use.”
It added: “The café has two large windows fronting Stafford Street with accommodation providing a servery/counter area with kitchen to the rear, a seating area (23 covers), male and female toilets plus a small store.”
Shepherd noted that, to the front of the building, there is provision for further external seating, comprising 16 covers, under pull-out awnings.
It said: “Oban, ‘The Little Bay’ in Gaelic, is a well-established port town within [the] Argyll and Bute Council area and is one of Scotland’s most popular tourist destinations located on the coast of the Firth of Lorn with views out to the islands of Lismore and Kerrera, with the Isle of Mull beyond.”
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Linda Cameron, at Shepherd, said: “There is a short-term lease in place to an established local operator trading as Julie’s Coffee House. The current tenant has been in occupation since 2017. The current rental income is £12,000 per annum.”
She noted that the 500 sq ft property qualifies for 100% rates relief.
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Ms Cameron said: “Offers over £150,000 are invited for this VAT-free sale. This reflects an attractive net initial yield of 7.86%.”
Shepherd said: “Known as the Gateway to the Isles, Oban is Caledonian MacBrayne’s busiest ferry terminal serving the Western Isles.”
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