Description

LOCATION

Edinburgh, Scotland’s capital city, is renowned for its vibrant events, including the Edinburgh Festival Fringe, the Edinburgh International Festival, the Royal Military Tattoo and New Year celebrations. Millions of visitors are attracted to the city annually and the city itself has a vibrant domestic economy. McGonagalls is on Edinburgh’s George IV Bridge, a busy thoroughfare between the High Street and Chambers Street, which are prime City Centre locations. The property is only minutes from Edinburgh Castle, the High Street, Lawnmarket, Cowgate and the Grassmarket. It is an ideal location to attract general City Centre trade, tourist trade, and evening entertainment trade.

THE DESCRIPTION

The subjects are formed within the ground floor of a multi-storey, traditional sandstone tenement building. The property has a large frontage and provision for external pavement seating.  The subjects at lower ground level have natural light from windows at the rear wall and there is very significant storage accommodation on the lower ground floor, which may have further income generating potential.

ACCOMMODATION

The estimated Gross Internal Floor Area is:

GROUND FLOOR

Bar Area

McGonagalls is a traditional bar, with a fitted bar servery, seating around the bar and a side seating area. We estimate that there is seating for approximately 75 to 85 persons. There is a dumb waiter at the bar servery, leading down to the lower ground kitchen area.

LOWER GROUND FLOOR

There are ladies’ toilets, gentleman’s toilets, and a commercial kitchen with dumb waiter to the ground floor.  The size of the kitchen is relatively generous and is fully fitted with commercial catering equipment and an extract system. The lower ground floor also accommodates the beer cellar, dry goods store, office, and significant areas of unused storage, which could offer development potential.

SERVICES

We understand that the premises are connected to all mains services, including water, electricity, gas, and drainage. There is a gas-fired central heating system.

RATEABLE VALUE

The subjects are entered on the valuation role with a current Rateable Value of £52,200, from 1st April 2026. A new occupier has the right to appeal the Rateable Value.

EPC

A copy of the Energy Performance Certificate is available on request.

THE OPPORTUNITY

McGonagalls boasts an enviable location in the heart of Edinburgh City Centre, surrounded by numerous business drivers.  The business is leased out and no trading information is available. The present tenants are exiting the lease, and this is not a transfer of a going concern. A premium payment is required however for the outgoing tenant’s inventory.

McGonagalls offers a fantastic opportunity for a new operator to capitalise on the excellent location and introduce a fresh bar offering or change the emphasis to a more restaurant style operation.

LEASE TERMS

The property is available on a new tenant full repairing and insuring lease, for a period of 10 years, with 5-year rent reviews.  It should be noted that there is no trade tie whatsoever, and the tenant is free to source food, and beverage supplies from whomever they choose. The guide rent is £67,500 per annum plus VAT.

Premium offers are sought for the purchase of the outgoing tenant’s inventory of fixtures, fittings, furnishings, and equipment.

VIEWING AND FURTHER INFORMATION

Strictly no approaches to be made to the property direct. For further information please contact CDLH on 0141 331 0650.

ANTI MONEY LAUNDERING

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, came into force on the 26th June 2017. This now requires us to conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.

Floor Plans

There are no property floorplans available

Dataroom

There are no property datarooms available