Listing ID: 3511219
Seller ref: Gamba

'glasgow Institution'. The Best Seafood Restaurant In Glasgow For Sale

Glasgow, Glasgow City, UK

Asking Price:: £195,000

Turnover:: £883,196

Net Profit:: £120,000

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Gamba
225a West George Street, Glasgow, G2 2ND
• One of Glasgow’s finest restaurants. ‘A Glasgow institution’
• Long established & extremely reputable seafood restaurant. Estd. 1998
• Prominent city centre trading position
• Circa 60 covers plus separate bar
• 2023 turnover £883,196 net of vat
• Adjusted net profit circa £120,000
• 4-day trading only. Potential to increase

The business

Gamba was established in October 1998, and has just celebrated its 25th anniversary, and is therefore extremely well established and something of a Glasgow institution.
In this time Gamba has built up an enviable reputation and is not only renowned for being the best seafood restaurant in Glasgow; but for being one of the best restaurants in Glasgow full stop.

The business enjoys a loyal and regular clientele, who return time and time again to enjoy the finest sustainable seafood that Scotland has to offer, along with a range of wines, whiskies and cocktails, all served with flair, in this stylish and relaxed basement setting. Gamba is famous for its fish soup, and its a la carte menu features dishes including Isle of Gigha halibut, Scottish Lobster, smoked salmon, hand dived king scallops and oysters. There are also set menus for lunch, pre theatre and Saturdays, as well as a popular surf & turf menu on a Wednesday.

Gamba’s ethos is that they always use only the highest quality seafood and other ingredients, with a focus on traceability and provenance, sustainability, and seasonality, while working directly with their incredible suppliers who land their fish locally and ethically, using low-impact fishing, so that they can use hand-dived, creel, and line-caught produce wherever possible.

Gamba has won many accolades over the years including Michelin recommended, 2 AA Rosettes, appearing in the Good Food Guide, Caterer’s UK Seafood Restaurant of the Year, and a Best Restaurant Experience in the West Scottish Thistle Awards. Gamba is also recognised by the Scottish Taste Awards for its fresh and sustainably caught produce.

Property Information

Property:: Leasehold

Lease Terms:: The subjects are held on a new 15-year lease from 19th March 2023, expiring on 18th March 2038 with a current passing rental of £32,000 per annum, subject to 5-yearly reviews. There is a tenant only break option at year 5.

Leasehold Rent:: £32,000 per annum

Location:

The subjects benefit from a prime trading position on the corner of West George Street and West Campbell Street, in the heart of Glasgow City Centre.

The subjects are in the middle of one of the busiest commercial areas of the city with a high volume of offices, businesses, hotels, restaurants and bars in close proximity, ensuring the area is busy both day and night.

The subjects benefit from a number of nearby hotels including Kimpton Blythswood Square, Dakota, Malmaison, Hilton, Grand Central, Hampton by Hilton and the Park inn by Radisson to name a few. The subjects are only a short walk from Buchanan Street, the city’s main pedestrianised, high-end, retail thoroughfare, as well as both Queen Street and Glasgow Central Railway Stations.

Nearby attractions include the Mitchell Library, Cineworld Cinema, Kings Theatre, Pavillion Theatre and the Theatre Royal.

Glasgow attracts high levels of tourism each year, with a huge number of other attractions and amenities including the Kelvingrove Museum & Art Gallery, The Riverside Museum, The Botanic Gardens and Glasgow Science Centre to name a few. The city is a cultural hub, with a number of theatres and concert venues including the Hydro, which regularly plays host to many of the biggest concerts and live shows, and has been ranked as the world’s second busiest live entertainment arena.

Glasgow is located in the West of Scotland, 40 miles west of Edinburgh. It is the 4th largest city in the UK and the largest in Scotland, with a population of circa 600,000, however there are around 1.2 million people in the Greater Glasgow urban area.

Premises Details:

The subjects are accessed directly from West George Street via an attractive stairwell leading through a landscaped courtyard into an entrance vestibule leading to the restaurant.

The subjects benefit from prominent signage as well as a street level menu board.
Internally, the subjects have been designed and fitted to an exacting standard in a stylish and vibrant fashion, whilst creating a homely and cosy atmosphere.

The restaurant is laid out to accommodate a comfortable 60 covers by way of stylish comfy banquet seating, fixed comfy booths and loose tables and chairs.

The subjects benefit from a separate bar area which can accommodate approximately 15/20 customers for pre or post dinner drinks. The bar has a cosy and intimate feel to it, and benefits from a stylish bar counter/servery and gantry, with seating provided by way of comfy chairs and stools.

Ancillary areas
• Fully fitted commercial kitchen
• Coffee station/prep area
• Male, female & staff toilets
• Cloakroom/staff changing
• Large storeroom with fridges/freezer/ice machine etc
• Dry store

Business Operation

Trading hours:

The business only trades 4 days a week, closing on Sunday/Monday/Tuesday. The opening hours are Wed/Thu/Fri : 12pm-2pm then 5pm-9pm last orders, and Saturday: 12pm-9pm last orders.

It is felt there is huge potential to extend the opening hours. Prior to covid, the business opened on a Sunday and we are advised that the days takings were circa £3k-£4k for an evening service.