Description

CONCEPT AND BACKGROUND

Reardon’s has been in operation for many years, with the concept and businesses owned by the Links family. The business has superb trading history and is firmly established, providing an excellent level of revenue and profitability.

The brands are strongly defined, and the operation provides substantial snooker/pool income, resulting in a high level of both gross profit and underlying net profit. The business would be a great acquisition for private individuals wishing to continue with the existing concept, with clear growth prospects.

The business may also be of interest to multiple operators or venture capital companies who would look to develop the brand across the UK, given the clear business success.

THE ASSETS

Reardon’s trades from two properties. Both units are situated in prominent and busy trading locations.

REARDON’S CITY CENTRE, 24 HOPE STREET, GLASGOW, G2 6AA

LOCATION

Reardon’s in the city centre is situated in an excellent trading position on Hope Street. The premises lie on the ground floor of Glasgow Central Station, the main railway hub serving the city centre. It is also seconds’ walk from the main financial district and Buchanan Street, the main retailing district.

DESCRIPTION

Reardon’s is arranged over the ground floor of the multi storey Glasgow Central station building. Central Station was constructed in the late 1800s and provides an attractive Category A listed structure, constructed of steel with blonde sandstone-dressed outer walls.

The premises are accessed directly from the front, off Hope Street, with three semi-circular frontage windows providing good natural light.

ACCOMMODATION

Access

With an entrance vestibule followed by a security door into the main trading area.

Main American Pool Area & Bar

Main open plan bar and pool area with a large timber bar servery to one side which has an attractive timber and mirrored gantry to the rear.  There is seating for approximately 40 persons adjacent to the bar via loose tables and chairs, alongside 10 high stools and ample standing space. There are 20 pool tables as well as gaming and amusement machines.

Rear Area

The rear area is open to the front bar. It has attractive vaulted ceilings and contains 4 full-sized snooker tables.

Snug Snooker

A room with 6 snooker tables, benefitting from an attractive vaulted ceiling.

Service Areas

• • Kitchen fitted with commercial extraction.
• • Ladies, gents and accessible toilets.
• • Manager’s office.
• • Beer cellar.
• • Delivery access directly from side of premises.

Floor Area

Licensed capacity for 250. The premises have an approximate total gross internal floor area of 929.03 sq. m. (10,000 sq. ft.).

REARDON’S SOUTHSIDE, 1060-1078 POLLOKSHAWS ROAD, GLASGOW, G42 3EA

LOCATION

Reardon’s South is situated on Pollokshaws Road, in a highly prominent trading position at the heart of the commercial centre of Shawlands. Shawlands is a densely populated area made up of traditional stone tenements which are popular with students and young professionals.

It lies approximately three miles south of the core city centre with good transport links via road, rail and bus.

ACCOMMODATION

Access

The premises are arranged over the upper levels of a three-storey modern building. The ample entrance lobby is accessed direct from Pollokshaws Road, followed by a staircase leading to the first floor trading level.

Bar Area

Open plan bar area with bar servery which has an attractive timber and mirrored gantry to the rear.  There are two darts lanes with two pool tables in the main bar area. Seating for approximately 35 persons is adjacent to the bar from a mix of loose tables and chairs, and fixed back seating.

Main American Pool Area

The bar is open to the main American Pool area, with 16 pool tables. It is attractively decorated throughout with an American Pool theme, benefitting from high internal ceilings and good natural light.

Private Snooker Room

A private room situated off the rear hall with two full-sized snooker tables.

Main Snooker Room

The large main snooker room is situated off the front bar area, with 12 full-sized snooker tables.

Service Areas

• • Kitchen fitted with commercial extraction to the rear of bar.
• • Ladies, gents and accessible toilets.
• • Manager’s office at the front.
• • Store, beer cellar and spirits room.

Floor Area

Licensed capacity for 195. The premises have an approximate total gross internal floor area of 929.03 sq. m. (10,000 sq. ft.).

PROPERTY LEASE TERMS

The properties are subject to leases. The salient terms of each lease can be seen in our sales brochure.

TRADING PERFORMANCE

We have outlined a table (left), showing the total revenue, gross profit, total operating costs, and current adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation).

The trading figures are to YE July 2024 for City and YE May 2024 for Southside. Full profit and loss accounts will be provided to seriously interested parties. As can be seen, the business is achieving an excellent level of revenue in the region of £2,260,000 and an EBITDA in the region of £1 million.  The trading history shows that the businesses are firmly established and have been trading with an increasing pattern for a number of years.

THE OPPORTUNITY

Our clients are now well into retirement age.  As a result, they have made the difficult decision that now is the time to hand over the baton and present a first-class business with real growth and branding opportunities to a new owner.

Reardon’s Snooker & American Pool Licensed Sports Bars are firmly established. The business would be ideal for private individuals wishing to take over an exceptional and long-standing business, with real growth prospects.

In addition, the business will be of interest to existing multiple operators or venture capital companies, who can acquire a highly profitable existing business to add to their existing brand/national coverage.

SALE TYPE AND PRICE

The transaction is to be completed as a 100% share transaction of the tenant operating companies. Offers in the region of £3,250,000 are invited. This represents an approximate 30% gross yield (multiplier of 3.25 x the current approx. EBITDA at £1 million). This is a first-class opportunity for a purchaser to gain an excellent return on capital invested and a significant opportunity to grow the brand.

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 conduct 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