Licensed Restaurant & Takeaway Complex 2589

Leasehold £150,000

  • 1547
  • 1548
  • 1549
  • 1550

This is a superb opportunity to acquire the leasehold interest in an entire 3 storey licensed restaurant and function suite complex in the heart of Glasgow city centre.

Ground floor restaurant with 55 covers, first floor additional seating for a further 55 covers and additional kitchen, second floor function suite for 70 covers and own bar and toilets.

Full public house premises licence.

Long lease until 2032 but can be extended if required.

Business (excluding name), leasehold interest, equipment, fixtures & fittings for sale at offers over £150,000.

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Type of business
261-263 Hope Street is a fully licensed restaurant and function suite complex spanning all 3 floors of this city centre property. The leasehold interest in the whole property is offered for sale. Ideally located for the Royal Concert Hall, Pavilion Theatre, Theatre Royal and all the other nightlife and shopping that Glasgow’s Sauchiehall Street has to offer. The property has a full public house licence, full class 3 hot food consent and commercial extraction from both the ground and first floor kitchens/cooking areas. The main entrance is on the ground floor though there is a side entrance for access to the function suite. The ground floor restaurant area has space for 55 covers and extends to approximately 118m2 (1,246sqft). See 2nd photo down opposite. First and second floors are accessed either through the ground floor restaurant or by a separate entrance to the right of the main ground floor door. The first floor is currently a large bright spacious dining area with full commercial open kitchen and bar. It has space for over 55 covers. See 3rd photo down opposite. Second floor has a similar in layout to first floor and is used as a function room for private parties and can seat up to 70. See bottom photo opposite. First and second floors are of similar area to the ground floor. All floors have ladies and gents toilets.
Leasehold. Annual rent for the entire property is £64,000 of which the ground floor accounts for £44,000. The lease runs until 2032 but can be extended if required. The rateable value for ground floor is £28,500 and for the combined first and second floors is £29,750.
Financial information
The leasehold interest is being sold without the current trading names. The new tenant will have to rebrand the business. The sale price includes all equipment, fixtures and fittings. Financial information can be made available to serious interested parties after viewing.