The Borestone Bar in St Ninians, Stirling, is now available for the asking price of £450k, together with a three bedroom flat on its first floor.
Coming to the market via Drysdale & Company, The Borestone is described as ‘an excellent investment opportunity’ in the shape of a traditional lock-up pub.
With both lounge and public bars, the property is well situated at the junction of Glasgow Road and Bannockburn Road, in a densely populated area with a retail parade immediately opposite, including a number of bookmakers, takeaway units, a pharmacy and a convenience store, offering steady footfall, coupled with what Drysdale described as ‘very limited’ competition from other hostelries.
It is currently let to an experienced operator, Bannockburn Pub Company, with a new four year lease signed in January 2022 (landlord only option to extend for a further five years) with the flat let to a third party.
As such, the property offers a total annual income of circa £63,000, with the asking price of £450k reflecting a gross yield of 14%.
“This is a fantastic opportunity for an investor to acquire The Borestone Bar, a popular community wet-led pub in a strong location,” said Stuart Drysdale of Drysdale & Company.
“Interested parties will be supplied with plenty of financial information on the performance of this established business, with the main details being the annual rental income of £30,900 (£24,000 pub and £575 p.c.m flat), with the landlord’s annual barrelage discount circa £32,000 (2022 MAT 285 draught barrels).”
