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Fish Chip Shop And Letting Portfolio For Sale

Elgin, Moray, UK
Asking Price:
£865,000
Turnover:
Available on request
Net Profit:
Available on request

Located on the High Street in the bustling town of Elgin is the Northern Fish Restaurant, a long established and very popular fish and chip shop that has been in the current owner’s family for nearly sixty years. This is a substantial property that has the benefit of excellent owners’ accommodation in the form of a 3 bedroom and 3 reception room maisonette.

Included in the sale is a portfolio of residential properties that are currently let. These include 2 cottages and 3 maisonettes which generate an income of £2,165 pcm

The Northern Fish Restaurant is situated in a prime trading location on the High Street in the city centre of Elgin. Located on Elgin’s high street and close to all local amenities on offer such as doctors, dentists, sporting facilities, post office and schools, with many in close proximity if the property. Elgin itself is a lively and charming town housing around 24,000 people. Within the centre it has a variety of shops on offer to suit all needs. For those seeking further education, Elgin is also home to Moray Collage UHI which provides a range of courses for around 10,000 pupils. Elgin has a high level of tourists all year round looking to experience the local distilleries, castles, and world class golf courses. Connecting with bigger cities is made easier with transport links; the bus station and train station enabling easy access to Inverness and Aberdeen. The larger cities of Inverness and Aberdeen are within easy driving distance, being 38 miles and 64 miles respectively, both of which have airports and regular daily scheduled flights.

The Business:
The Northern Fish Restaurant has been in operation for over 60 years and run by the current proprietor for 19 years. The business is located within a large residential catchment area and is also in close proximity to a secondary school, Elgin Retail park and many businesses. The business is run as a traditional Fish & Chip shop and takeaway and benefits from an enviable reputation.

The opening hours are from 0900 to 2200 daily with the exception of Tuesday and Wednesday when the business is closed.

The business is operated by the owner and a total of 3 part time staff. At any one time there are a total of 2 people working in the business.

The sale includes all equipment required to operate the business including gas range, oil filter, potato peelers, chipper, fridges, freezers, and microwaves.

There are 5 rental properties included in the sale. These are all let under Private Residential Tenancies agreements. The rent range is from £400 to £475 pcm generating a total monthly income of £2,165. There is good demand for rental accommodation in the Elgin area and occupancy levels have historically been extremely high.

This is a very steady and profitable business. Full trading information will be provided only after formal viewings have taken place.

Property:
Entrance is from the main street via glazed door and into the takeaway area. Along the side of the building is the cooking and servery area. At the rear of the property is the restaurant which is furnished with a number of fixed booths that can cater for a total of 40 covers. There is a popular retro Juke Box (not included in sale). At the back of the property is a large storeroom and preparation area that includes the potato peeler and chipper, fridges, and freezers. A side door leads to a private enclosed alley that in turn provides access to the maisonette above the shop.

A stairs with provides access to the porch and in turn main hall. At the front of the property is a reception room, currently used as a games room would lend itself to a dining room. An adjacent room has been converted to a laundry. On the first floor there is a spacious lounge and well-equipped kitchen diner.

On the upper floor there are 3 good sized double bedrooms. Two overlook the main high street and the main bedroom has a rear aspect. There is a modern bathroom and substantial store room.

The property portfolio consist of two 2 bedroom cottages and three 1 bedroom maisonettes that are located on the close of 229 High Street. The properties could benefit from some internal modernisation and decoration.

The property has mains gas, electricity, water and drainage.

The property is held on the Scottish equivalent of a freehold.

External:
The Northern Fish Restaurant occupies at prominent position at the western edge of Elgin High Street. There is access via a private alley to the rear of the restaurant and in turn the flat. Entrance to the rear is via a locked get from the high street. A further gate leads to the reminder of the close where the rental portfolio is situated. There is a private vehicle access via the adjacent public car park.

Property Information

Property:

Freehold

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