Immaculate Bar & Restaurant for Sale in Greenlaw, Scottish Borders, Ideal for Letting or Owner Stay
Greenlaw, Scottish Borders
- Status
FOR SALE
- Date Submitted:
06/07/22
- Advert ID
298335
- Reference
1471 / Rightbiz
- Call Agent:
- Freehold: £195,000
- Turnover: On request
- Net Profit: On request
Business Details
Immaculately presented Bar & Restaurant in Greenlaw, Scottish Borders. (ref 1471)
*** PRICE REDUCED ***
Immaculately presented Bar & Restaurant (70). First floor lounge/meeting room. Hugely impressive kitchen and dish-wash area. 6 rooms on first and second floor in “first fix condition”. Ideal letting bedrooms/owners accommodation. Same owner for the last 6 years. Currently leased out. Advised gross turnover circa £250,000 prior to leasing. Important building and back of house works carried out in fitout. Rates exempt.
The town of Greenlaw is located on the A697 in the heart of the Borders, near equidistant between Lauder and Coldstream. Coldstream marks the border between Scotland and England and lies 10 miles to the South. Edinburgh is 38 miles to the north and can be accessed within an hour.
The Borders enjoys a rail link to Edinburgh with the train terminus at Tweedbank, 17 miles west as well as a connection to the East Coast Main Line at nearby Reston, 17 mile east. Other centres located close by include Berwick upon Tweed (20 miles) and Galashiels (21 miles).
The town is home to circa 800 residents but this swells in the summer months with tourists and visitors. The town has a well-regarded caravan and holiday park with the stunning scenery of the Lammermuir hills all around. Greenlaw also boasts a village shop, butchers, pharmacy and primary school.
The Blackadder Bar and Restaurant is the only licensed establishment in Greenlaw, occupying a prime roadside trading position on the main road leading through the town. Historically, the business has been a very popular village business and remains trading strongly from food and wet sales.
The business has been in our clients hands since 2016 and underwent a significant refurbishment on ground and partial first floor before opening to trade in April 2017. Initially the business was run under management and traded impressively reporting a gross turnover circa £250,000 prior to Covid. In the recent past, our clients have let out the business on an informal lease on an initial passing rent of £15,000 per annum. The rent is due to rise to £18,000 per annum in due course.
The property is being offered on a freehold basis and vacant possession may be granted for purchasers wishing to run on a hands on basis.
FREEHOLD Guide price £195,000.
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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