The subjects comprise a city centre restaurant arranged over the ground floor of two separate but adjoining 4 story and mid terrace traditional tenements. The frontage is formed in stone but timber clad and painted and incorporates large display windows providing good natural light to the restaurant.
Internally the property has been recently refurbished to a high standard and provides 50 covers. There is a fully fitted commercial kitchen to the rear of the property, an attractive bar, ancillary storage, private dining space and customer WC facilities.
Location
The subjects are situated on the south side of Morrison Street in Scotland’s capital City of Edinburgh. It is a recognised financial centre and home of the Scottish Parliament together with being a popular tourist destination, particularly during the busier summer months.
Morrison Street is a one-way thoroughfare which connects Lothian Road with Haymarket Terrace/West Maitland Street. It carries a substantial volume of traffic on a daily basis being one of the main arterial route routes out of the City Centre towards the West.
The area is mixed residential and commercial in nature and adjacent there are a number of other restaurants and public house properties in the vicinity and the Edinburgh International Conference Centre and various hotels are located a short distance from the premises. The Haymarket Edinburgh is an impressive £XXXm mixed-use development in the city centre, including hotels, retail space and offices which will bring further investment and buzz to the area.
Accommodation
The premises have been measured in accordance with RICS Code of Measuring Practice - 6th Edition. The gross internal floor areas have been calculated as being approximately as follows:
96.90 m² (1,043 ft²)
THE BUSINESS: This business is reluctantly being brought to the market as a result of retirement.
As previously mentioned, the restaurant occupies a great location within Edinburgh city centre with plenty of commercial and residential properties surrounding from which to draw custom. This will only improve in the coming years.
It is also in extremely good condition following a recent renovation and is easily manageable because of the layout. The current operation has gained a reputation for the very highest quality meat available and operates as a successful steakhouse.
This is reflected in the previous year’s accounts which can be provided to interested parties after viewing.
Terms
PRICE: Offers over £XXX are invited for the goodwill, fixtures and fittings of the business and the freehold interest of the commercial property.
TRADE INVENTORY: The trade inventory is not included in the asking price and is available through separate negotiations.
ASSESSMENT: We have consulted the Scottish Assessor’s website (www.saa.gov.uk) and note that the premises are entered in the current Valuation Roll as follows:- Rateable Value: £XXX
VAT: All figures quoted are exclusive of VAT if applicable.
ENTRY: Upon completion of legal arrangements.
ENERGY PERFORMANCE RATING: A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
LEGAL FEES: Each party will be responsible for paying their own legal costs incurred in this transaction.
Specification
- A great opportunity to acquire a long-established restaurant in Edinburgh’s City Centre.
- Located close to Haymarket and Edinburgh’s economic hub.
- 24 years of goodwill.
- Walk-in ready condition
- Offers over £XXX are invited.