ICONIC LICENSED PREMISES. RARE HERITABLE SALE.
The Koh-I-Noor is situated in a highly sought-after trading location, in a prominent position close to the core city centre and Finnieston. The premises are located on a popular licensed parade on North Street next to The Berkley Suite @ the Pawnbroker, Chinaskis, Five March and The Locale. Other licensed premises in the immediate area include Pedlar & Spice, Bon Accord and the Baby Grand. Other nearby income generators include The Kings Theatre, several large city centre hotels and the Park financial and residential district. Finnieston and the SECC are a short walk away as is Charing Cross railway station. This is a first-class trading location within an established licensed area. The subjects are ideally located to capture both midweek office and retail trade plus weekend trade from the city centre and west end.
The subjects are arranged over the ground floor and basement of a single storey building under a flat roof. The premises benefit from a large prominent frontage with customer entrance directly off North Street. There is a separate staff entrance to the front.
The accommodation is summarised as follows:
Bar & Restaurant
Bar area with servery and seating capacity for 30 persons, situated to the front leading through to the main restaurant to the rear, which can accommodate approx. 120 covers. The bar and restaurant areas are decorated in a traditional theme. The main trading areas are extensive and provide a purchaser with a great opportunity to create a first-class licensed venue.
Good sized commercial kitchen with canopy extraction.
Staff and store areas.
Currently used as storage but could be refurbished as a function room.
Male & female customer toilets.
Kitchen prep area, beer cellar, storage and staff change.
We assess the gross internal floor areas as follows:
Ground Floor - 4,355 Sq. Ft
Basement Level - 2,485 Sq. Ft.
TOTAL - 6,840 Sq. Ft
We understand that the property is connected to all mains gas, electricity, water and drainage.
The premises are entered in the Valuation Roll with a Rateable Value of £55,000, effective 1st April 2017. Rates payable will be approximately half of the rateable value and a new occupier has the right to appeal the rateable value. CDLH undertake rateable value appeals for licensed premises.
There premises benefit from a Premises Licence under the Licensing (Scotland) Act 2005 which can transfer to the new owner.
The Koh-I-Noor is an iconic premises and Glasgow’s first Indian restaurant, established in 1964. This is a great opportunity to purchase a well-known institutional licensed property. The premises would be ideal for continued licensed restaurant use or other licensed concept. The bar, restaurant and basement space provide large areas and fantastic scope to introduce a first class offer.
Offers Over £525,000 plus VAT, are invited for heritable (freehold) interest including fixtures and fittings.
The premises have an EPC Rating – G. A copy of the EPC can be provided on request.
VIEWING & FURTHER INFORMATION
For further information or to arrange a viewing, please contact our Glasgow office on 0141 331 0650.
Designed & built by Mucky Puddle