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Commercial property for sale

£25,000 Fixed price

Lerwick, Shetland Islands ZE1

Interested in this property? Call +44 131 268 9615 * or Request Details

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Property features

  • Leasehold
  • Fully refurbished
  • Strong trading history
  • Trading name not included

Property description

Reference - 45762

Description
Monterey Jacks, Lerwick, is a successful bar and restaurant venue that has traded successfully as a restaurant for 17 years. The property has recently undergone a fully refurbishment program at the start of 2017, and is now offered in true walk in condition. The current vendors are selling the lease, as the business and location no longer fit within their business plan.

Bruce and Co are delighted to offer to the market an excellent opportunity to purchase a well presented and successful business within the popular and busy Lerwick. We are advised the current lease can be renegotiated, with the option to purchase the freehold.

The trading name is not included, which is reflecting in the asking price

Situation
Lerwick is the main port of the Shetland Islands, Scotland, located more than 100 miles off the north coast of mainland Scotland on the east coast of the Shetland Mainland. Lerwick is about 210 miles north-northeast of Aberdeen, 230 miles west of Bergen in Norway and 230 miles south east of Tórshavn in the Faroe Islands.
Lerwick, Shetland's only burgh, has a population of about 7,500 residents and is the most northerly and most easterly town in Scotland. One of the uk's coastal weather stations is located at Lerwick. Lerwick is served by the Tingwall Airport located a few miles away and Sumburgh Airport that is further south and flies all year to some Scotland destinations.
Northlink Ferries operate a daily overnight ferry service between Lerwick and Aberdeen, regularly calling in to Kirkwall in the Orkney Islands.
The Shetland Islands Council operate a ro-ro ferry service to Out Skerries and Bressay from a terminal in the centre of the town

Lerwick is a busy fishing and ferry port. The harbour also services vessels supporting the offshore oil industry.

Building Internal
The property is a detached lock up unit set over two floors. The main entrance is from the front, which leads into a well presented and fully refurbished bar and restaurant.
The refurbishment included new wiring, new kitchen equipment, furniture and décor. The property benefits from a fully equipped commercial kitchen. We are also advised that works have already been agreed to install a new roof to the property in September 2017.
The main dining and bar area is located on the ground floor, with additional seating upstairs.
The premises can accommodate up to 80 persons comfortably and is well furnished with wooden tables, chairs and stools together with wooden flooring.
Ladies and Gents facilities are well located off public areas.

The business has built up and excellent reputation, trading throughout the year offering a wide range beers wines, cocktails and spirits, along with an extensive menu.
The business benefits from having a full pub classification licence, being licenced from days per week, and from 1200 on Sundays.
The business is currently operating 7 days per week from 1100-0000

Building External
The front of the property is straight to street. There is ample on street parking.

Services
We have been advised that all mains services are fitted.

Tenure
The property is held on the Scottish equivalent of leasehold. We are advised the current lease is for a rolling five years, with a monthly rental of £1300.
The building is to further benefit in October from new roof and new upper windows by landlord. You are also advised that the building too may be available for sale.

Accounts
Trading Figures will be made available after a formal viewing has taken place

Summary
The sale of Monterey Jacks, Lerwick offers a great opportunity to purchase a well established business. The business benefits from an excellent location. Viewing is highly recommended

Call to Action
Offers in the region of £25,000 are sought for the leasehold, fixtures, fittings. Stock in trade will be additional at valuation.

Viewing
Strictly by appointment through the sellers’ sole agents, Bruce & Company. Please remember when viewing that staff and locals may not be aware that the business is on the market and we would be grateful if you do not talk openly about the business while in the area.

What Zoopla users think of Lerwick

Overall rating:

  • currently 4 stars
Very good - 75% (10 ratings)

Ratings breakdown:

  • currently 4.5 stars
Community & safety
  • currently 3.5 stars
Entertainment & nightlife
  • currently 3.5 stars
Parks & recreation
  • currently 3 stars
Restaurants & shopping
  • currently 4.5 stars
Schools & public services
  • currently 3.5 stars
Transport & travel

Rate Lerwick:

Tell us what you think of this area by rating these categories.
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Community & safety
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Entertainment & nightlife
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Parks & recreation
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Restaurants & shopping
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Schools & public services
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Transport & travel
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5

Nearby transport

  • Lerwick/Tingwall Airport (3.7 miles)
  • Sumburgh Airport (19.8 miles)
  • Scatsta Airport (20.0 miles)
  • Lerwick Shetland Esplanade Ferry Terminal (0.1 miles)
  • Lerwick Shetland Hays Dock Ferry Terminal (0.4 miles)
  • Bressay Shetland Ferry Terminal (0.7 miles)

Nearby schools

View all schools in Shetland Islands
  • Bell's Brae Primary School (0.4 miles)
  • Bressay Primary School (0.9 miles)
  • Sound Primary School (1.5 miles)
  • Anderson High School (0.4 miles)
  • Kirkwall Grammar School (103.0 miles)
  • Stromness Academy (111.2 miles)
  • Scalloway Junior High School (4.6 miles)
  • Sandwick Junior High School (11.3 miles)
  • Aith Junior High School (12.2 miles)
Note: Distances are straight line measurements

Local info for Shetland Islands

About the neighbours in ZE1

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For more information about this property, please contact
Bruce & Company, EH12 on +44 131 268 9615 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Bruce & Company, and do not constitute property particulars. Please contact Bruce & Company for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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