Fantastic Restaurant Opportunity within highly desirable & affluent suburb of Bearsden

Lucali

151/155 Milngavie Road, Bearsden, Glasgow, G61 3DY

·                  Rarely available restaurant opportunity

·                  Within the desirable & affluent suburb of Bearsden

·                  Designed & fitted to a high standard

·                  Circa 80 covers plus bar and pavement seating

·                  Surrounding operators include Bamboleo, Loop & Scoop, Romy’s, Rettie & Co

·                  Close to Hillfoot Station, Douglas Park Golf Club & Boclair House Hotel

·                  Strong levels of turnover & profitability

·                  Long established Italian restaurant but would also suit other cuisine styles

LOCATION

 The subjects benefit from a highly prominent trading position forming part of a strong retail & licensed parade which sits on Milngavie Road, within the affluent East Dunbartonshire suburb of Bearsden, approximately 5 miles northwest of Glasgow.

 Milngavie Road forms part of the A81, an extremely well-travelled road which runs from Glasgow, through the Trossachs, all the way to Callander, and therefore benefits from high levels of passing traffic from tourists and daytrippers.

 The subjects are situated within a busy commercial area and the parade features a good tenant mix comprising Bamboleo, Loop & Scoop, Romy’s fish & chips, The Aesthetic Club, Liggy’s Cake Co and Rettie & Co, ensuring good footfall throughout the day and evening.

 Other nearby amenities include Douglas Park Golf Club, Premier Inn and Boclair House Hotel.  The subjects benefit from good transport links with free on-street, car parking, and are also directly across from Hillfoot Railway Station.

 THE PROPERTY

 The subjects form part of a retail parade and comprise part ground floor and mezzanine levels of this single storey property under a pitched tiled roof with skylight windows.

 DESCRIPTION

 The subjects are accessed directly from Milngavie Road via an entrance vestibule positioned in the centre of the large display frontage with prominent signage above.  There is also a small pavement seating area which benefits from electric awnings and can accommodate approximately 30 customers.

 Internally, the premises were refurbished in 2024 and have been designed and fitted to an exacting standard, with no expense spared, with top quality finishings throughout, and are in walk in condition.

 The ground floor is home to a stunning bar area to the left-hand side, with a stylish, fully equipped bar/servery, and there is bar seating for circa 12 customers with high stools round the bar and window seating.

 The restaurant dining area is positioned to the right-hand side and the ground floor section can accommodate approximately 40 customers by way of a fixed comfy booth, fixed banquet seating and loose tables and chairs.

 A contemporary staircase leads up to the mezzanine level surrounded by glass balustrades overlooking the ground floor.  This area is currently set up to accommodate 34-covers but the table layout could be modified to add in an extra few covers if required.

 ANCILLARY AREAS

 ·                  Open plan commercial kitchen with feature pizza oven

·                  Male/Female/Disabled toilets & baby change

·                  Various ancillary storage areas

 THE BUSINESS

 The business has only been trading as Lucali since June 2024 however prior to this had traded as Raffaelle’s since 2015, so the business has been long established as a family-run, neighbourhood, Italian Restaurant.  It is only due to a change in direction in our client’s business interests that the decision has been made to sell the business.

 The business has a long track record of serving quality, freshly made Italian cuisine such as pizzas and pastas etc and enjoy a tremendous reputation and a loyal and regular customer base, with many locals and regulars, as well as benefitting from tourists, day-trippers, and people using the local amenities.

 Despite being a long-established Italian restaurant, the premises could easily be adapted to suit a different style of cuisine should a new owner wish to do so.

 TRADING NAME

 Due to our client’s other businesses, the trading name ‘Lucali’ is not included in the sale and a new owner will be required to rebrand the restaurant.

 TRADING INFORMATION

 Management accounts that we have been provided with for a 6-month period to 31st December 2024 shows a turnover of £354,951 net of vat, producing a gross profit of £270,365 (76%), and an adjusted net profit of circa £60,000

Further financial information can be provided to interested parties after formally viewing the business.

FIXTURES AND FITTINGS

We have been advised that all trade fixtures and fittings are owned outright and are free from any hire purchase or lease agreements.

BUSINESS RATES

The subjects are entered into the current valuation roll as having a rateable value of £41,000, and are eligible for the 40% rates relief announced in the recent budget.

LICENSES

The business trades with the benefit of a premises licence

TENURE

The subjects are held on a 20-year lease from 5th January 2024 with a current passing rental of £50,000 per annum, subject to 5-yearly rent reviews.  There are tenant only breaks in January 2034 and 2039.