ESTABLISHED RESTAURANT FOR SALE – CRIEFF

For Sale
  • Offers over £49,500 (leasehold)
  • Property Type:
  • Location:
  • Sq Ft: 1,155

• HIGHLY PROFITABLE BUSINESS IN PRIME TOWN CENTRE LOCATION

• FULLY EQUIPPED LICENSED RESTAURANT

• 45 COVERS

• LEASEHOLD SALE

• 1,155 SQ FT

• OFFERS OVER £49,500 (LEASEHOLD INTEREST)

• GOOD LEVELS OF NEARBY PARKING

LOCATION

Crieff is a market town in Perth and Kinross, Scotland. It lies on the A85 road between Perth and Crianlarich and also lies on the A822 between Greenloaning and Aberfeldy.

Crieff is the main town of Strathearn lying on the southern edge of the Scottish Highlands. It has been a holiday resort since Victorian times and is the second largest town in Perthshire with a population of almost 6000.

The town spills from the Knock, the wooded hill above, down to the River Earn. James Square with it’s fountain marks the centre of the town. There are a number of tourist attractions such as Glenturret Distillery (Scotland’s oldest) and hotels including the grand Victorian spa – the Crieff Hydro.

From a local context the property is on the northern side of West High Street between its junctions with Comrie Street and Academy Road. West High Street forms the main arterial road through Crieff and as such benefits from high levels of footfall and passing trade.

DESCRIPTION

The subjects form the ground floor of a traditional end terraced two storey property of brick construction. The property benefits from a large double bayed window frontage with timber glazed entrance door.

The restaurant provides seating area incorporating a mixture of traditional table and chairs and more relaxed seating providing 45 covers. The floor is of solid wooden construction whilst the walls are plastered and painted. The front serving area provides a bar with coffee machine, refrigeration and storage unit.

The kitchen area is fully equipped with stainless steel appliances, basins, extraction system and refrigeration. The floor is overlaid in a welded non slip vinyl covering.

There are separate male and female w.c’s provided together with additional storage room.

THE BUSINESS 

The business has been operated by the same owner for approximately 10 years and trades as “The Lounge.” The establishment forms a popular restaurant within Crieff Town Centre.

The business is for sale due to the current owners relocation. The business is currently performing very well but we believe that there is good scope to increase turnover and profit margins.

Currently, the business opens 5 days per week (Tuesday – Saturday) from 10am to 10pm.

The fit out is to a high and modern standard and is ready for immediate occupation.

The restaurant offers a menu that is well received with the local community. (Copy of menu provided in left image).

We are happy to discuss the accounting information with seriously interested parties.

FLOOR AREAS

From sizes taken from our inspection, we understand that the subject property measured in accordance with the RICS Property Measurement Professional Statement (First Edition, May 2015) incorporating the International Property Measurement Standards and the RICS Code of Measuring Practice to extend to the following approximate gross internal area (GIA):

Ground Floor (Café):        107.3m2/1,155ft2

PROPOSAL

Offers over £49,500 are sought for the leasehold interest and will include all inventory, trade fixtures and fittings and goodwill.

The passing rent is £18,000 p.a.

Heritable (freehold) interest available by separate negotiation.

PLANNING 

The subjects benefit from appropriate planning permission for their existing use as a restaurant. All queries in relation to planning permission and use class of the subjects should be addressed to Perth and Kinross Council Planning Department.

CLOSING DATE

A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent.  We reserve the right to sell the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale of the property.

VAT

Vat will be payable where applicable.

RATING

The Rateable Value of the property is £11,300. Please contact the local rating office for further information.

EPC

A copy of an EPC is available upon request

 

PUBLICATION DATE 03/05/2019

Price:Offers over £49,500 (leasehold)
Address:1-3 West High Street
City:Crieff
Postcode:PH7 4AU
Square Feet:1,155
Property Type:Established restaurant

Location Map