Description
The Hielan Jessie is arranged over the ground floor of a characterful stone constructed building, which dates from 1771. There are residential flats situated above. The premises benefit from single storey extensions to the rear. There is a good quality frontage onto Gallowgate, which returns onto Claythorn Street, providing prominence to passing traffic and pedestrians and good natural light internally.
Historical Comment
The Hielan Jessie is one of the oldest public houses situated within Glasgow. The bar is named after Jessie Brown, whose husband fought for the 17th Highland Regiment in India in 1857. Jessie’s husband was killed in a battle. Jessie returned to Glasgow with limited means and opened the public house.
The pub was thereafter named the Hielan (abbreviation of Highland) Jessie.
The bar also includes original works by the famous Glasgow photographer, Oscar Marzaroli. These are to be included within the inventory for the benefit of a purchaser. More recently, the public house has been operated by the Gold family for over 35 years. The current owner, Mr Billy Gold, is now retiring and has decided to sell the premises and business.
Location
Location
The Hielan Jessie is situated in a prominent trading position on Gallowgate, at its junction with Claythorn Street. The premises are located directly opposite a Morrison’s superstore and lie only 10 minutes’ walk from High Street and the Merchant City. The immediate area has seen a significant investment, with a number of new bars and restaurants, including St Luke’s, together with the regeneration of the Barrowlands and the creation of BAAD (the Barrows Art & Design Centre). Work is also underway to create a new Gaelic school on the grounds of the former St James school, which is 150 yards from the premises.
Significant residential development is also being undertaken within the immediate vicinity. The new Calton Village, which will provide 254 new homes, is currently under construction. The former Meat Market is also being redeveloped and will create a further 252 homes. Both developments are within a 5 minute walk.
Accommodation
Accommodation
The accommodation is as follows:
Bar
Characterful traditional bar. There is a bar servery set to one side and a mix of fixed back and loose seating for approximately 60 persons.
Customer Toilets
Ladies and gent’s customer toilets situated to the rear.
Service Areas
Storage areas and large beer cellar.
Please follow this link to view the internal accommodation :
https://my.matterport.com/show/?m=YkHN1CpSZJw
Terms
Rateable Value
The premises have a Rateable Value of £24,900.
Premises Licence
There is a premises licence in place.
Price
The premises are being placed on the market at offers over £259,000 for the benefit of the heritable interest and business, including inventory but excluding any personal items of the current owner. The stock is additional and will be paid for at the date of entry.
EPC
The property has an EPC rating of G.
Specification
Services
The premises are connected to mains water, gas, electricity and drainage.
The Opportunity
The Hielan Jessie is a Glasgow institution. The business is generating a high level of revenue, with strong barrelage and would be ideal for either an owner/operator or a pub company to operate under a tenancy. The immediate surrounding area has benefited from significant investment and there are over 500 new homes currently being developed within 5 minutes’ walk. This is an excellent opportunity to purchase an existing business with growth potential.
The Business
The Hielan Jessie has operated as a public house for a number of years. Revenues pre-pandemic were in the region of £365,000 net of VAT. However, the recent monthly revenues of the business annualised to a revenue in the region of £400,000 net of VAT. In addition, the barrelage is strong. The current barrelage is estimated at approximately 280 barrels per annum. Full accounting information can be provided to seriously interested parties.
Anti Money Laundering
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase before the transaction can proceed.
Viewing & Further Information
Strictly no approaches to be made to the property direct. For further information please contact CDLH.