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Immaculately Presented Bar & Restaurant In Greenlaw For Sale

Greenlaw, Scottish Borders, UK
Asking Price:
£195,000
Turnover:
Undisclosed
Net Profit:
Undisclosed

*** PRICE REDUCED ***

Immaculately presented Bar & Restaurant (70). First floor lounge/meeting room. Hugely impressive kitchen and dish-wash area. 6 rooms on first and second floor in “first fix condition”. Ideal letting bedrooms/owners accommodation. Same owner for the last 6 years. Currently leased out. Advised gross turnover circa £250,000 prior to leasing. Important building and back of house works carried out in fitout. Rates exempt.

The town of Greenlaw is located on the A697 in the heart of the Borders, near equidistant between Lauder and Coldstream. Coldstream marks the border between Scotland and England and lies 10 miles to the South. Edinburgh is 38 miles to the north and can be accessed within an hour.

The Borders enjoys a rail link to Edinburgh with the train terminus at Tweedbank, 17 miles west as well as a connection to the East Coast Main Line at nearby Reston, 17 mile east. Other centres located close by include Berwick upon Tweed (20 miles) and Galashiels (21 miles).

The town is home to circa 800 residents but this swells in the summer months with tourists and visitors. The town has a well-regarded caravan and holiday park with the stunning scenery of the Lammermuir hills all around. Greenlaw also boasts a village shop, butchers, pharmacy and primary school.

The Blackadder Bar and Restaurant is the only licensed establishment in Greenlaw, occupying a prime roadside trading position on the main road leading through the town. Historically, the business has been a very popular village business and remains trading strongly from food and wet sales.

The business has been in our clients hands since 2016 and underwent a significant refurbishment on ground and partial first floor before opening to trade in April 2017. Initially the business was run under management and traded impressively reporting a gross turnover circa £250,000 prior to Covid. In the recent past, our clients have let out the business on an informal lease on an initial passing rent of £15,000 per annum. The rent is due to rise to £18,000 per annum in due course.

The property is being offered on a freehold basis and vacant possession may be granted for purchasers wishing to run on a hands on basis.

Freehold Guide price £195,000.

Property Information

Property:

Freehold

Location:

The town of Greenlaw is located on the A697 in the heart of the Borders. The Blackadder Bar & Restaurant occupies a prime roadside trading position on the main road leading through the town.

Premises Details:

Ground Floor - Main entry leads into an entrance vestibule and hallway. This then leads into a very well presented Bar and Restaurant for circa 70 covers. The bar and restaurant were fully fitted and refurbished in 2015, the bar area is immaculate and offered in a walk in condition for any new owners. A central bar dominates the room with ample and mixed seating all the way around. Our clients have spent liberally to achieve a positive “wow” factor with the premises. The kitchen and dishwash area as well as toilet facilities are well appointed off the public areas.

First Floor - At present the first floor houses a well appointed lounge that can double up for a multitude of uses – Dining area/small function room as well as a meeting room. Over the remainder of the first floor and the full second floor area the property in offered in “first fix” in terms of a refurbishment. Condition wise the rooms are stripped back to shell and offer 3 rooms on the first floor as well as further 3 rooms on the second floor.

Business Operation

Expansion Potential:

Part of the first floor and the full second floor area - the property is offered in “first fix” in terms of a refurbishment. Condition wise the rooms are stripped back to shell and offer 3 rooms on the first floor as well as further 3 rooms on the second floor. Historically, these rooms were a mix of letting bedrooms and owners accommodation. There is real potential for new owners to utilise this space as they see fit, with a small capital spend the rooms can be turned into valuable letting rooms or a spacious owners accommodation.

Competition / Market:

The Blackadder Bar and Restaurant is the only licensed establishment in Greenlaw.

Other Information

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