Restaurant for sale

Gordon's Trattoria, 231 High Street, Royal Mile, Edinburgh, EH1 1PE

Offers Invited

Property Description

Commercial information

  • Business for sale

Key features

  • New lease offered
  • Rarely available opportunity
  • 62 cover restaurant, external seating for 24
  • 500 yards from Edinburgh Castle
  • Ground floor 760 sq.ft, basement 689 sq.ft
  • Energy Rating G

Full description

Tenure: Leasehold

Description

A truly unique opportunity to purchase the leasehold interest of an established licensed property benefitting from a central trading position on Edinburgh's Royal Mile.

Location

Gordon's Trattoria is prominently situated at the centre of The Royal Mile, forming part of High Street in Edinburgh city's Old Town. Situated a short distance west of the Royal Mile's junction with South Bridge and Cockburn Street, and only 500 yards from Edinburgh Castle, one of the busiest tourist destinations in Scotland with over 2 million annual visitors. Edinburgh city centre is only a short 30 minute bus or tram ride from Edinburgh International Airport which was recently voted UK airport of the year, and now boasts direct flights to Shanghai and Dubai. This section of High Street is pedestrianised with a mix of retail and licensed premises dominating the ground floor level, with private and commercial residential accommodation at upper floor levels of the traditional terraced properties flanking High Street.

Internal Details

The property is contained within the ground and basement levels of a 6 storey over basement mid terraced property of traditional construction. The property was once the shop of James Gillespie, who went on to found the James Gillespie Hospital before his death in 1797.

The restaurant is accessed from High Street via a central access door leading to the open plan restaurant area. The front of the unit includes booth style seating adjacent to the principal counter, with a small. fully fitted commercial kitchen visible to customers at ground floor level. The restaurant area opens up to the rear with fixed and moveable seating provided. The dining area seats 62 covers internally.

Other Floors

A central stairwell within the restaurant leads down to the basement level which includes the toilet accommodation. A prep kitchen and ancillary storage space is also provided.

Tenure

The restaurant is run on an owner/operator basis and a new lease is being offered, with terms to be negotiated. A 20 year lease is offered, with regular rent reviews, with a starting rent of £75,000 per annum. A ingoing leasehold premium is sought for the benefit of a fully fitted restaurant.

External Details

The restaurant benefits from an area immediately to the front elevation, with space available for 24 external covers. This can external area can also be sheltered, with a retractable canopy provided.

The Opportunity

A truly unique opportunity to purchase a leasehold site on The Royal Mile. Family owned and operated since 1982, Gordon's Trattoria has cemented itself as an institution on the High Street, popular with locals and the millions of tourists that visit the Old Town annually. The area incorporates a mix of uses and whilst the property is being marketed for leasehold sale as a licensed restaurant, potential purchasers may wish to satisfy themselves as to the opportunity of a possible change of use, subject to planning.

Staff

The restaurant is fully staffed and if taken on as a going concern staff will transfer over under TUPE legislation.

Trading Information

The restaurant trades 7 days a week, benefitting from the high footfall levels on a daily basis. Full trading information will be made available to seriously interested parties once a formal expression of interest has been made and a Non Disclosure Agreement has been signed

Planning Permissions

Class 3 (Food & Drink) consent currently in place

Business Rates

The Rateable Value (2017) is £55,100

Regulatory

The premises is fully licensed with a Premises Licence in place.


More information from this agent

Nearest stations

  • Edinburgh (0.1 mi)
  • Edinburgh Waverley (0.1 mi)
  • Haymarket (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Edinburgh

18 George Street, Edinburgh, EH2 2QU

0131 291 0102 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Christie & Co , Edinburgh

18 George Street, Edinburgh, EH2 2QU

0131 291 0102 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Edinburgh (0.1 mi)
  • Edinburgh Waverley (0.1 mi)
  • Haymarket (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Edinburgh

18 George Street, Edinburgh, EH2 2QU

0131 291 0102 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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