FOR SALE
10/10/23
600881
1603 / Rightbiz
*** MASSIVE PRICE REDUCTION ***
Rare free of tie leasehold opportunity. Great trading location close to new 390,000 sq. ft Haymarket mixed use development. Close to Haymarket train station as well as EICC and financial services district. Substantial premises over ground and basement level. Assignation of a 21 year lease agreed in 2019. Current rent £57,500 per annum. Capacity as per premises licence of 160 seated and 300 seating and standing. Rateable value £31,500 as per SAA. Generous premises licence with opening permitted to 1am 7 days per week. Exciting opportunity for a wide variety of licensed operators and different cuisines.
LEASEHOLD Offers over £49,000 SAV.
The business is positioned on the north side of Morrison Street, towards the western end close to Haymarket train station. Immersed in amongst a large business district circled by Festival Square to the North, Port Hamilton to the East and the Exchange to the South. This is an excellent trading location with the business surrounded by a real mix of offices, commercial and retail space, student housing as well as being close to Haymarket train station. The premises lies a short distance away from the brand-new Haymarket development.
Morrison Street connects Lothian Road and the financial services district of Edinburgh to Haymarket. This makes Morrison Street one of the busiest streets in Edinburgh, with footfall and custom 7 days a week with exceptionally high daily footfall Monday to Friday.
Our clients opened the premises as Froth & Flame in 2019, centred around a Woodfired food and beer offering. The business trades with an excellent menu offering a tasty wood fired meat and pizza offering as well as some of the best locally sourced craft beers and ales.
The business is currently run under management but would certainly suit a more hands on and direct management approach. The business trades well but there is significant turnover development for new operators.
At present the business is open 5 days a week (closed Sunday & Monday). The generous nature of the premises licence would not preclude more extensive opening times to take full advantage of the licensing hours permitted.
It is strongly felt that the premises would suit a wide variety of trading styles and international cuisines. It is also unusual in this particular location to have as sizeable floor plate like this offering 160 covers.
Offers over £49,000 are sought for the leasehold interest in the property and all fixtures & fittings pertaining thereto. Assignation of the 21 year lease agreed in 2019. The current rental is £57,500 per annum. The lease is free from any trade tie.
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.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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.
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.
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.'.
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.
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.
Be safe, use a Rightbiz Solicitor
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.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
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.
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.
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.
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.'.
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.
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.
Be safe, use a Rightbiz Solicitor
Get SolicitorThe data showed regarding this advert 'A superb free of tie bar and restaurant opportunity in Edinburgh (ref 1603) - 1603 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.