Description

LOCATION

Moskito is situated at the junction of Bath Street with Douglas Street, in the heart of Glasgow City Centre. The premises lie seconds walk from the main licensed circuit of Sauchiehall Street, as well as the main retailing and office areas of the city centre.

Glasgow is now one of the main entertainment and leisure centres of the United Kingdom with first class museums, parks, theatres, hotels, entertainment venues (including the Hydro) and retailing facilities, which attract significant tourists throughout the year. In addition, it is the largest city by population in Scotland, with approximately 600,000 residents.

Bath Street itself provides a main arterial route leading through the city centre and there is a high number of office occupiers, residential apartments and student accommodation situated within the immediate vicinity, together with several hotels, including the Hampton by Hilton, Apex, Abode, Blythswood, Ibis/Novotel and Dakota. The Kings Theatre, situated a short distance from the subjects on Bath Street, will also be a key generator, particularly for a food driven business. There is no doubt that this has become a first class trading location, benefitting from not only the nearby licensed circuits, but also significant tourists and daytime trade from the surrounding generators.

THE PROPERTY

The subjects are arranged within characterful, traditional stone constructed buildings. The premises occupy the lower ground floor and are accessed via attractive external staircases, which leads to a large open external well. This area is utilised for external seating.

ACCOMMODATION

Internally, the accommodation is as follows:

Front External Seating

Laid out with high quality garden furniture, supplemented with fixed seating and planting, with seating for approximately 60 persons.

Main Bar

Situated to the front, with highly attractive contemporary decorations throughout, including first class ambient lighting, ceiling mounted artificial plants and attractive artwork. There are bright windows to the front and a mix of rectangular and linear fixed seating, supplemented by low and high bar tables and chairs. There is further snug seating areas to the side and rear. We would estimate seating for approximately 150 persons in total.

Side Bar

Accessed from the main bar but with separate access from the front. The side bar provides an overspill to the main bar but is also used for self-contained functions and events. Excellent contemporary decorations, including unique flooring, an attractive bar servery, first class artwork and ceiling mounted artificial plants. We would estimate total seating for approximately 80 persons.

Customer Toilets

Recently renovated ladies, gents and accessible toilets, again fitted with modern decorations, with ample space, given the capacity.

Ancillary Accommodation

Ancillary accommodation includes customer toilets, a fully fitted commercial kitchen, staff toilets, offices, beer cellar, chill rooms and a variety of stores. Ancillary accommodation includes customer toilets, a fully fitted commercial kitchen, staff toilets, offices, beer cellar, chill rooms and a variety of stores.

Floor Areas

We calculate that the premises have a Gross Internal Area of 665 sq. m. (7,158 sq. ft.). The front terrace is estimated at 70 sq. m. (753 sq. ft.).

Licence Capacity

532 persons internally and 44 externally.

PROPERTY HISTORY

Moskito was established approximately 23 years ago and traded as a first-class city centre venue for many years. The premises were closed around 2018/2019, due to the personal circumstances of the previous owner and purchased by the current owner. At that time, a comprehensive refurbishment was undertaken, verified at a cost of £1.42 million. The refurbishment was a complete overhaul of the accommodation, the result of which is one of the best fitted units in the city centre. It is very rare for a unit in the condition of Moskito to be placed on the market.

THE BUSINESS & THE OPPORTUNITY

The business is currently operated under management. The business owner has other business interests and is not involved in the day-to-day operation of the business. The total revenue, net of VAT, has ranged from approximately £1.25 million to £1.45 million over the last three years.

This is a superb opportunity to acquire a unit in first-class walk-in condition, currently achieving reasonable revenue but with significant upside, by creating a dedicated concept and hands on management. The premises would be ideal to carry on being used as a first-class bar/restaurant. Alternatively, the layout and decoration would be ideal as a venue business, jazz/other themed concept or for many of the new competitive socialising uses in the market, including gaming, darts, American pool, etc.

DATA ROOM

A full data room is available including monthly revenues, stock reports, premises licence and asset report (showing money outlaid on fit-out).

THE PREMISES LICENCE

A premises licence is in place, permitting trading from 12pm to 3am, 7 days per week. The licence capacity is for 532 persons internally and 44 externally. The premises licence will be transferred to a purchaser.

RATES

The subjects have a Rateable Value of £102,000. A new occupier will have the right to appeal the Rateable Value. The rates payable will be approximately half the Rateable Value.

EPC

A copy of the EPC will be provided on request. The EPC rating is G.

THE PRICE

Offers over £1,250,000 are invited for the benefit of the heritable interest in the premises.

VIEWING AND FURTHER INFORMATION

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

Floor Plans

There are no property floorplans available

Dataroom

There are no property datarooms available