Lucano’s, 31-33 Victoria Street, Kirkwall, Orkney

Offers Over £395,000Freehold

Brochure

Key Information

Tenure:Freehold
Council tax band:Not available
Broadband:up to 74Mbps
Mobile signal:*Based on indoor data coverage
EEO2Vodafone

Key Features

CONTACT KAREN TO DISCUSS IN MORE DEPTH
GREAT LOCAL REPUTATION
GROWTH FOR ADDITIONAL RESTAURANT SPACE OR RESIDENTIAL DEVELOPMENT OPPORTUNITY ALONGSIDE
OPTION TO LEASE WITH A VIEW TO BUYING THE BUSINESS
OPTION TO SPLIT THE PROPERTIES (BUSINESS MUST GO FIRST)
THRIVING BUSINESS OPPORTUNITY
TOURISM HOT SPOT WITH HEAVY FOOT FALL TRADE
TOWN CENTRE POSITIONING
VIEWING IS HIGHLY RECOMENDED

Description

Nestled in the heart of Kirkwall, 31-33 Victoria Street presents a rare opportunity to own a thriving Italian restaurant with a substantial development opportunity which is positioned alongside. This substantial property, brought to the market by K Allan Properties, boasts a prime location alongside the iconic St Magnus Cathedral, making it a hotspot for locals and tourists alike.

With a spacious interior that can comfortably seat 55-60 dining guests, this restaurant provides the perfect setting for culinary experiences and social gatherings. The fully equipped catering kitchen ensures that every dish is prepared to perfection, catering to the discerning tastes of patrons.

Beyond its current success, this property offers room for expansion or the potential to convert part of the space into a residential dwelling, providing a versatile investment opportunity. Whether you're looking to continue the legacy of this beloved restaurant or explore new possibilities, 31-33 Victoria Street is a property brimming with potential.

Don't miss out on the chance to own a piece of Kirkwall's vibrant culinary scene. Embrace the opportunity to own a restaurant in a prime location, where history meets modernity, and where the aroma of delicious Italian cuisine fills the air.

BUYER OPTIONS
The seller is open to discussions around options with regards to purchasing the business and properties. Please discuss this with Karen at K Allan Properties.

LOCATION
Orkney is positioned at the North of Scotland and has a thriving tourism economy, recognised as a desirable place to live and raise a family.

Fully equipped kitchen

- Bar area
- Coffee machine
- Walk in fridge and freezer
- Walk-in dry stores
- Customer and staff toilets
- Office and staff toilet on the first floor
- Presently open from 7.30 am - 9pm
- Adjoining 1stb and 2nd floor development opportunity

RATEABLE VALUE - £15,250

BEST ESTATE AGENT GUIDE
When you choose to work with us, you are officially working with one of the UK's Best Estate Agents. We received this award in 2023 for sales and are delighted to have been invited back to London for our award in November for 2024.

The very best agents are listed in The Best Estate Agent Guide – a website for sellers to help them choose who the best agents are in their area.

If you want to achieve the best results for your property sale, combined with receiving the best customer service, we would love to help.

VIEWINGS
By appointment only, arranged through K Allan Properties.
Call 01856 876377 or email info@kallanproperties.co.uk

OFFERS TO
K Allan Properties
Watergate
Kirkwall
KW15 1PD
info@kallanproperties.co.uk

DISCLAIMER
Whilst we endeavour to make these particulars accurate, they do not offer/form any part of a contract on offer and are not guaranteed.
Measurements are approximate. We have not tested electricity, gas or water services or any appliances.
Photographs may have been taken with a wide angle lens.

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Glaitness School
(0.33 miles)
Number of pupils: 199
Age Range: 5 - 12
Papdale Primary School
(0.4 miles)
Number of pupils: 444
Age Range: 5 - 12
Kirkwall Grammar School
(0.52 miles)
Number of pupils: 866
Age Range: 12 - 18
Shapinsay Community School
(4.25 miles)
Number of pupils: 19
Age Range: 5 - 12
Firth Primary School
(5.73 miles)
Number of pupils: 76
Age Range: 5 - 12
St Andrew's Primary School
(5.97 miles)
Number of pupils: 164
Age Range: 5 - 12
Orphir Community School
(7.11 miles)
Number of pupils: 33
Age Range: 5 - 12
Stenness Community School
(8.79 miles)
Number of pupils: 21
Age Range: 5 - 12
Burray Primary School
(9.37 miles)
Number of pupils: 50
Age Range: 5 - 12
Evie Primary School
(9.64 miles)
Number of pupils: 46
Age Range: 5 - 12

Property Calculators

Mortgage

Estimated Monthly Mortgage Payment:
ÂŁ2,078 /mo.25 Years, 5% Interest
Loan
ÂŁ355,500
Total Repay
ÂŁ623,465

Land & Buildings Transaction Tax (LBTT)

You’ll have to pay the LBTT of:
ÂŁ12,750
0% up to ÂŁ145,000
2% between ÂŁ145,000 and ÂŁ250,000
5% between ÂŁ250,000 and ÂŁ325,000
10% between ÂŁ325,000 and ÂŁ750,000
Your effective LBTT is 3.23%

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