Licensed bar and restaurant business for sale in the established Showcase Leisure Park

Location

Glasgow is Scotland’s largest city and is situated close to the west coast. There are four main motorways which run through the city putting it at the hub of Scotland’s road network.
 

The property is located approximately 8 miles (13 km) east of Glasgow city centre on the north side of the A8 (a continuation of the M8 motorway) in the Bargeddie area and in close proximity to the M73 Baillieston Interchange. 
 

The Showcase Leisure Park is established and located adjacent to the A8 at its junction with the A752. Nearby occupiers include Showcase Cinema de Lux Coatbridge, KFC, McDonald’s and Hollywood Bowl. 
 

Description

The subjects comprise a single storey detached licensed restaurant of masonry construction under a mansard type roof. There is a secure service yard to the rear and an external seating area to the front. The premises are fully licensed for external covers and there is ample car parking.

Internally, the restaurant, bar and ancillary accommodation is substantial and is fitted out to a high standard with extensive dining areas that can accommodate circa 150 covers. The kitchen is fitted out to a professional standard with extract ventilation and a range of stainless steel sink units, utility basins and fitments. A comprehensive range of floor and wall mounted style units are installed with appropriate worktops. Chill rooms, cellar, storage and staff welfare facilities are to the rear.

The Business

The Pictures Restaurant is a fully licensed Class 3 restaurant and bar which enjoys regular all year round trade from customers, such is the trading position. The business trades Wednesday to Sunday and is closed on Monday and Tuesday. 
 

The current operators have decided to sell the business due to a change in circumstance, thus creating an extremely desirable opportunity to acquire a thriving, profitable business on a truly turnkey leasehold basis. 

The operation prides itself on the personal touch and this would be vital for any new operator to have the same ethos and outlook. The bespoke service the current operators provide is reflective of the success of the business and in turn, the return custom. 

We have been advised that all fixtures and fittings are owned outright and included within the goodwill purchase price. 

Tenure

The lease is available by way of assignation, for the residual term of the lease, which expires in 2032. The current rent is £60,000 per annum. The rent is subject to an open market rent review in 2027 when there is also a lease break option. There may be the option to extend the lease, subject to approval.

Premium

Offers in the region of £35,000 are sought for our client’s leasehold interest in the property including the goodwill of the business, fixtures and fittings. Stock will be available at valuation.

Rateable Value

According to the Scottish Assessors Association, the subjects have a Rateable Value of £94,000 effective from 1st April 2023.