Gandolfi Fish is situated in an excellent trading position on Albion Street, within the heart of the Merchant City licensed circuit, next to the Merchant Square and adjacent to the City Halls and Old Fruitmarket. Merchant City itself now provides a prime licensed and residential area, serving the city centre. The premises lie only approximately 5-10 minutes’ walk from George Square, Queen Street Station and Buchanan Street, the prime retailing thoroughfare of the city centre.
Significant new development has taken place in the immediate vicinity, including new Strathclyde University Halls of Residence and increased student numbers/footfall. This nearby development includes the £90 million, 270,000 sq. ft. Strathclyde University Technology and Innovation Headquarters on Cathedral Street (3 minutes’ walk away) and the new £32m Sports Centre, also on Cathedral Street. The 600,000 sq.ft. Glasgow College “Super Campus” designed to cater for 40,000 students is also a short walk away.
The Merchant City is a desirable licensed trading location. Nearby occupiers include O’Neill’s, Bar Home, Blackfriars, Monterey Jacks, Metropolitan, Brewdog, Hutchesons and Corinthian.
The premises are arranged over the ground floor of a multi-storey building. The restaurant has an attractive frontage to Albion Street and internally an attractive open plan restaurant with ancillary commercial kitchen and service areas. The takeaway has a separate entrance, also off Albion Street. We estimate that the ground floor extends to 1,500 sq. ft.
The accommodation internally is as follows:
Restaurant and takeaway entrance directly off Albion Street. Attractive full height glazed frontage and entrance vestibule to restaurant.
With fixed back leather seating, booth seating and loose timber tables and chairs for up to 65 persons. Wooden flooring and attractive high-quality decorations and finish throughout. There is a large full height feature wine display and attractive bar servery and gantry.
With waiting area, servery counter and chip shop fryer servery to the rear.
Fully fitted kitchen with commercial extraction, interconnected to both the takeaway and restaurant.
Ladies, gents and accessible customer toilet.
Outside pavement seating for 12 persons.
There is a premises licence in place. The premises licence will be held by the landlord and the tenant will provide a designated premises manager.
We understand that the premises are connected to all mains services, including water, electricity, gas and drainage.
The Rateable Value of the restaurant is £55,000. The rates payable is approximately half the Rateable Value. A new occupier will have the right to appeal the Rateable Value.
Gandolfi Fish is an established Glasgow restaurant and has been trading for a number of years. The premises are fully fitted and in exceptional walk-in condition. The current tenant, is looking to sell their leasehold interest to focus on other interests. Current turnover for the business is approx. £600,000 net of VAT, however, there is scope to focus on and develop further.
Gandolfi Fish represents a genuine first-class licensed restaurant opportunity for an experienced restauranteur or chef proprietor to acquire a fully fitted and furnished premises, within a prime trading location within the city centre. The subjects also have a separately accessed takeaway, able to cater for take-out and deliveries to the local, generally affluent and dense student catchment area.
The existing lease has approximately 12 years unexpired term and the passing rental is £40,000 per annum set in 2017. The next review is not until 2022. The terms of the lease are on a standard commercial basis and the landlord may consider extending the lease period. The full lease is available to seriously interested parties.
Offers over £95,000 are invited for the benefit of the leasehold interest to include all fixtures, fittings and equipment and premises licence, enabling an incoming tenant to gain the unit in a walk-in condition to commence trading immediately. The incoming tenants must cover the legal costs of the landlord.
The premises have an EPC rating of F. A copy of the EPC can be provided to interested parties.
For further information please contact the Glasgow office on 0141 331 0650.
Designed & built by Mucky Puddle