Licensed Restaurant Lease Opportunity in Dundas Street, Edinburgh City Centre
City of Edinburgh, Edinburgh
- Status
FOR SALE
- Date Submitted:
09/07/22
- Advert ID
298574
- Leasehold: £100,000
- Turnover: N/A
- Net Profit: On request
Key Features
- Potential for Alternative Use
- Close to Local Amenities
- Nil Premium
- Fully Fitted
- Attractive Business
- Currently Closed
- Town Centre location
- New Lease
- Prime Location
Business Details
Licenced Restaurant for Lease in Dundas Street, city centre of Edinburgh
Licenced Restaurant for Sale.
Superb location with licence in the heart of Edinburgh’s city centre.
This Edinburgh New Town property currently functions as a Restaurant, but it has the potential and capacity to operate as a new business venture. The owner is open to potential new business ideas for the property.
Located in the highly desirable Dundas Street, right outside a Lothian bus stop, a five minute walk from Princes Street, the Tram, Bus and Railway Station, and Edinburgh’s tourist attractions such as Edinburgh Castle. The area has a very high footfall with residents and the many tourists visiting the city all year round.
The property is basement level with bin storage, kitchen and separate male and female toilets, bar and the main dining area that can be separated into two areas: the first is on immediate entry and the second room it leads into has an original stone wall of the Georgian architecture.
Interior décor and the property have been extremely well looked after by our clients allowing new owners to benefit from small capital expenditure to completely furnish, redesign and renovate from an already high-end internal fit-out.
The business is being offered on a leasehold basis with 10 years lease.
Premium -- NIL.
Property:
-
The subjects are held on the basis of a FRI lease and the annual rental.
-
Leasehold Rent: £2500/pm.
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50 – 55 covers restaurant.
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Class three consent and alcohol license.
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Three months deposit required £7500 and valid business references.
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Leasehold 10 years.
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NIL Premium.
Premises Details:
The prior tenants were running the property as El Paso Bar Mexican Restaurant. The business stopped trading as of June 2022 and has been running for last five years, prior to this it was running as, The Spice Pavilion Indian Restaurant, for seven years. In its current format it is strongly felt that the size, scope, and location of the operation would lend itself to a variety of different international cuisines.
Full trading information will be provided to seriously interested parties after formal viewings. (available on request).
Early viewing is highly recommended
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Stay Safe
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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