T-Squared Social: Investment Opportunity in St Andrews' Iconic Venue
T-Squared Social, a venue in town, underwent a significant transformation last October, converting an A-listed cinema into a hybrid space offering food, live sports on big screens, sports simulators, and movie screenings. Singer Timberlake and golfer Woods are shareholders in Nexus Luxury Collection, the company behind T-Squared Social's expansion to Scotland. The property is now being marketed as an investment opportunity by Shepherd Chartered Surveyors, with the venue comprising a restaurant, bar, fully fitted kitchen, storage areas, and office space. The building is currently leased until 2049 with an option to extend to 2079, with an annual rent of £45,000.
The North Street venue, formerly known as the New Picture House, has a long history dating back nine decades. It offers an open-plan restaurant and bar with 70 covers, a bar and waiting area, and a small outdoor seating area. The property is currently leased to TS SA Property Holdings until 2049, with an option to extend the lease to 2079. The annual rent is £45,000, with five yearly upward-only rent reviews starting from 2029. The building is now on the market for offers over £650,000, with the tenant having the right of first refusal to purchase the opportunity.
Since its opening in St Andrews, T-Squared Social has received mixed reviews, with some customers praising the venue with five stars while others have criticized its prices and service. Despite the feedback, the business continues to operate as usual. Shepherd Chartered Surveyors anticipates significant interest in the hospitality premises from property investors looking to expand their prime property portfolios. The venue's unique offerings, including live sports, food, and entertainment, make it an attractive investment opportunity in the heart of town.