Prime Restaurant Lease Opportunity with Late-Night Licence in Edinburgh's West End
City of Edinburgh, Edinburgh
- Status
FOR SALE
- Date Submitted:
27/11/23
- Advert ID
603159
- Reference
1619 / Rightbiz
- Call Agent:
- Leasehold: Offers Invited
- Rent: £85,000
- Turnover: On request
- Net Profit: On request
Key Features
- Nil Premium
Business Details
A superb Restaurant opportunity in Edinburgh City centre (1619)
LEASEHOLD - NIL PREMIUM
An excellent high-profile opportunity. Well know West End trading location. Valuable 3am premises license. Well fitted Restaurant & Bar. Offered in turnkey condition. Free of tie trading opportunity. 85 – 90 Covers on ground floor. 18 covers in first floor private dining room. Outdoor trading area at the rear. Well equipped kitchen and service areas. Rent £85,0000 per annum. Would suit a variety of different trading styles/cuisines. Total GIA of 291.85.
IN LIEU OF NIL PREMIUM, THE LANDLORDS WILL ONLY CONSENT TO A NEW TENANT WHO ARE ABLE TO PROVIDE AND OUTLINE A SIGNIFICANT CAPEX PLAN FOR INTERNAL REFIT AND REBRANDING.
The premises occupy a prominent trading location in the heart of Edinburgh’s West End. The premises occupies a visible trading pitch on the southside of Shandwick Place, yards from the West End (Princes Street) tram stop. The West End still remains one of Edinburgh’s premier office destinations with nearby Melville Street, Charlotte Square and Exchange Crescent a hub for accountants, solicitors and finance houses. Shandwick Place is also very close to Lothian Road, Princes Street and the New Johnny Walker Experience – this is a new and very prominent Edinburgh tourist destination, slated to attract 1.5m annually. The location offers new owners a great trading pitch with an already busy level of footfall 7 days per week.
Main entry leads into a bright and welcoming restaurant premises. The ground floor trading area extends all the way to the rear and can cater for 90 covers easily. On the first floor of the property there is a private dining room/function space for 18 covers. This space doubles as a function room, private dining facility as well as corporate meeting space. Externally, there is a small, licensed patio area to the rear.
This is an excellent opportunity to acquire a new long-term lease on a very prominent trading pitch in the heart of Edinburgh’s popular west end. It is strongly felt that the subjects will lends itself well to a variety of different trading styles and cuisines.
The property operates with class 3 consent and trades with a 3am licence.
The property is available on a leasehold basis.
The lease is offered on a nil premium basis, however our clients are looking for a well established covenant to take on the new lease. The landlord expects new tenants to rebrand and spend liberally on a significant internal CAPEX. Any new tenants will have demonstrated their capability to operate the business and supply details of their financial status, in order that landlord consent is granted.
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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.
Be safe, use a Rightbiz Solicitor
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