ASG Commercial is delighted to bring to the market The Dive Centre property, which is available for sale as an investment property with a sitting tenant. This centre is an established business situated in one of the most remote and beautiful regions of Scotland which entices a great number of visitors to the area. The property enjoys an excellent trading location with views over the Sound of Mull where much of the activity of the centre takes place. Visitors appreciate the natural rugged scenery which offers numerous opportunities for exploration.
The property is leased out and provides the landlord a gross return on investment of 7.5% based upon the selling price. The property offers a reception office / dive shop, 12 en-suite bunk rooms and a large cafe. For the avoidance of doubt the Trading aspects, including fixtures and fittings / trading names and intellectual property rights of The Lochaline Dive Centre, o2 cafe, or Eat Sleep Dive Lochaline Ltd are not included in the sale as these are owned by the sitting tenant.
Lochaline Dive Centre was purchased by the vendor is 2005 and was developed until that business was sold and the property was leased in 2016. It is due to a desire to focus on other business activities that brings this investment sale to the market. All trading fixtures and fittings within the property belong to the tenant.
This investment sale offers a substantial property which is let on FRI terms and benefits from a superb elevated location. The property sits with sea views and has ample car parking. The subjects consists of a large office / dive shop which is a detached building and purpose built of timber frame, on a concrete base and pitched sheet metal profile roof. This building offers space to manage the day to day operation of the dive centre business and is also where the compressor is located.
The 12-bedroom bunkhouse is of timber framed construction with cement block panels forming the vertical cladding walls (Dorran system). The pitched roof is of corrugated mineral fibre sheet material (Onduline). The rooms can each accommodate 2 persons (24 in total) and are all fitted with modern en-suite shower rooms providing modest yet comfortable accommodation. Within the bunkhouse unit are a number of additional store rooms etc. The accommodation has areas of decking which offer guests the opportunity to sit out with views across the Sound of Mull.
The café sits adjacent to the accommodation and offers a large customer area which can comfortably sit up to 30 guests. This element of the business has an open-plan kitchen area which is well appointed, plus an area of decking under canvass covering. There is a store set to the side of the café.
The property benefits from mains electricity, water and drainage. The building is double glazed with oil-fired central heating.
This property has an Energy Performance Rating of ‘tbc’.
The rateable value of the property is £11,000 effective from 1st Apr 2017 and is eligible for 100% discount under the Small Business Bonus scheme for eligible applicants.
Offers over £240,000 are invited for the heritable property only. The Trading aspects, including fixtures and fittings / trading names and intellectual property rights of The Lochaline Dive Centre, o2 cafe, and Eat Sleep Dive Lochaline Ltd are not included in the sale.
The full details of this FRI lease can be obtained from ASG Commercial but the extant rent is £18,000, the lease is a 10-year contract which commenced in June 2016 with a 5-year break option in June 2021.
The charming village of Lochaline sits at the southern tip of the beautiful and tranquil Morvern peninsula which is noted as one of the most remote parts of North-West Scotland. It is well-known for the variety of bird life, flora and fauna. The area affords opportunities for fly fishing for salmon, trout and sea trout with shore fishing off the pier or local rocks. Lochaline Dive Centre offers quality services to divers coming to visit the world-renowned Sound of Mull which is home to some of the best wreck dives in the UK. Visitors may be interested in visiting the Carved Stones of Keil Church which stands high above the Sound of Mull, just one mile west of Lochaline. Although the present church is just over 100 years old, tradition has it that there has been a church somewhere on the site since the time of Saint Columba in the 6th Century. About 3 miles down the side of Loch Aline is the 14th-century ruins of Ardtornish Castle. A ferry operates regularly from Lochaline over to Fishnish on the Island of Mull; the pier is just a short walk from the centre. It is possible to undertake a day trip to the Island of Mull or visit the Isle of Iona with its historic Abbey. Visitors to Mull can see the stone circles at Loch Buie, view Duart Castle (stronghold of Clan MacLean), view the cliffs at Carsaig or stride along some amazing white sandy beaches. Boat trips are available from Mull to the island of Staffa with its unique rock formations, the perfect nesting place for puffins. The population of Lochaline is about 200 and it has a shop (post office and petrol station) and a restaurant. The nearest large centre of population is Fort William, 40 miles away.