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117-121 North St - T-Squared Social 3,345 SF Retail Condo Unit Offered at $1,207,069 CAD in St Andrews KY16 9AD
Investment Highlights
- In close proximity to St Andrews university Campus
- Centrally located in St Andrews
Executive Summary
A former cinema of masonry construction which has been converted into a sports bar and lounge with sports simulators. The university town of St Andrews is situated on the north east coast of Fife approximately 25 km (15 miles) south of Dundee, 56 km (35 miles) east of Perth and circa 80 km (50 miles) north east of Edinburgh. The subject is situated at the northern extent of North Street which is located 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 FIND ON GOOGLE MAPS properties.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Tenure | Freehold |
| Cap Rate | 6.59% |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| Tenure | Freehold |
Description
The subjects 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. T-Squared Social is an internationally recognised leisure and entertainment operator backed by Justin Timberlake and Tiger Woods. 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 approximately 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.
Sale Notes
The subjects are let to TS SA PROPERTY HOLDINGS LIMITED on full repairing and insuring terms until 15th December 2049 with an option to extend to 2079. The annual rent is currently £45,000 with 5 yearly upward only rent reviews starting from the 16th December 2029. A copy of the lease can be provided to all interested parties.
The tenant has right of first refusal to purchase.
The tenant has right of first refusal to purchase.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 119 | 3,345 SF | Retail | $1,207,069 CAD ($360.86 CAD/SF) | $79,545.87 CAD |
Unit 119
| Unit Size |
| 3,345 SF |
| Condo Use |
| Retail |
| Price |
| $1,207,069 CAD ($360.86 CAD/SF) |
| NOI |
| $79,545.87 CAD |
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Unit 119
| Unit Size | 3,345 SF |
| Condo Use | Retail |
| Price | $1,207,069 CAD ($360.86 CAD/SF) |
| NOI | $79,545.87 CAD |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| Tenure | Freehold |
| Description | |
| The subjects 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. T-Squared Social is an internationally recognised leisure and entertainment operator backed by Justin Timberlake and Tiger Woods. 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 approximately 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.</li></ul> | |
| Sale Notes | |
| The subjects are let to TS SA PROPERTY HOLDINGS LIMITED on full repairing and insuring terms until 15th December 2049 with an option to extend to 2079. The annual rent is currently £45,000 with 5 yearly upward only rent reviews starting from the 16th December 2029. A copy of the lease can be provided to all interested parties.<br> <br> The tenant has right of first refusal to purchase.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 25,000 SF | Floors | 2 |
| Property Type | Retail (Condo) | Typical Floor Size | 12,500 SF |
| Property Subtype | Bar | Year Built | 1933 |
| Building Class | C | Lot Size | 0.69 AC |
| Total Building Size | 25,000 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Bar |
| Building Class | C |
| Floors | 2 |
| Typical Floor Size | 12,500 SF |
| Year Built | 1933 |
| Lot Size | 0.69 AC |
Amenities
- 24 Hour Access
- Mezzanine
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Nearby Major Retailers
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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117-121 North St - T-Squared Social
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