LOCATION
The subjects are situated within the attractive coastal town of Ardrossan. Ardrossan forms part of the historic three towns, which also includes Saltcoats and Stevenson. Communication links are excellent, with the A78 providing a fast road route to the A71/A77 and the main central belt of Scotland thereafter. In addition, Ardrossan has its own dedicated railway station, situated seconds’ walk from the subjects.
Ardrossan, with a catchment population in the region of 35,000, lies approximately 35 miles from Glasgow. It is now a popular commuter town serving the city centre, but also the larger settlements of Ayr and Kilmarnock. The town provides the main ferry terminal to the Isle of Arran.
The Clyde Marina is one of the main sailing gateways to Scotland’s West Coast. The marina has benefitted from significant investment and now provides a first class facility with approximately 280 serviced berths and quality floating pontoons.
SPECIFIC LOCATION
Cecchini’s is situated in a highly attractive setting, immediately adjacent to the popular Ardrossan Marina. The business is close to Ardrossan Town Centre and Ferry Terminal and within close vicinity to substantial new flatted and housing developments.
The key selling point for the business is the phenomenal setting, with windows, conservatory and external areas overlooking the popular marina.
DESCRIPTION
Cecchini’s is arranged within a characteristic original building. The building is constructed in brick, with a high tower. The premises have been substantially extended by glazed steel framed conservatories, which provide a first class external ambience.
ACCOMMODATION SPECIFICS
Internally, the accommodation is as follows:
TRADING AREAS
Dining Areas
There is a double access door leading into a glassed lobby. The lobby provides access to the restaurant and café/bistro, as well as an accessible lift. There is a disabled toilet situated off.
Café/Bistro
Highly attractive café/bistro directly overlooking the Clyde Marina. The bistro has a steel framed glazed extension to the front. In addition, there are highly attractive external seating areas situated off. A bar servery is set to the rear. Total seating is provided for approximately 40 persons. There is a call service coffee counter set to the front and a reception desk.
Café/Bistro Mezzanine
Accessed from an attractive metal and timber staircase from the ground floor area. The upper seating area has seating for approximately 40 persons.
Restaurant Area
Attractive restaurant at upper level with high internal ceilings and excellent window coverage, providing good quality natural light. A bar servery is set to one side. There is a mix of fixed back booth style seating, supplemented by loose timber tables and chairs. We would estimate total seating for 48 persons.
Restaurant Mezzanine
Accessed from an open timber/metal staircase from the upper floor restaurant. There is additional seating for approximately 32 persons.
Ladies and Gent’s Toilets
Situated off the mezzanine area.
Main Kitchen
Large and fully fitted commercial kitchen, with extraction. There is an open plan cooking area, with a variety of preparation/wash areas situated off. There is direct access to the café bistro and restaurant trading areas.
Kitchen Service Areas
Manager’s office, wash room, dry store, large walk in fridge/freezer and additional storage.
Other Staff Areas
Ladies and gent’s staff toilets/change, cleaner’s store and manager’s office.
EXTERNAL
Seating Areas
Attractive part covered external seating area, with highly attractive views over the marina. There is seating for approximately 48 persons. In addition, there is an additional side external area, with timber garden tables. We would estimate further seating for approximately 20 persons.
Car Parking
The premises has its own dedicated car park to the rear, with space for approximately 10 cars. In addition, there is a substantial shared car park situated to the front, with additional space for approximately 30 cars.
Yard.
There is a fenced yard and exterior service areas.
RATEABLE VALUE
The premises have a Rateable Value of £43,300, effective from 1st April 2023.
SERVICES
We understand that the premises are connected to all mains services, including gas, drainage and electricity. Heating is from wall mounted radiators.
PREMISES LICENCE
There is a premises licence in place, regulated under the 2005 Licensing (Scotland) Act. The premises licence will be transferrable to a purchaser.
THE BUSINESS
Cecchini’s have operated from the premises from its inception. The premises were created from a basic shell and substantially converted and extended to provide a first class restaurant and café/bistro.
Internally, the premises are in a good condition throughout, and provide significant trading areas to enable the business to trade at optimal trading periods. The café/bistro can open early in the mornings, through to lunch time and evening. The addition of the dedicated restaurant provides further opportunities for more formal lunch/evening meals, as well as function trade.
The business is generating an excellent level of revenue, in the region of £935,000 net of VAT, and a good level of current profitability at approximately £110,000.
THE OPPORTUNITY
This is a first class opportunity for a purchaser to acquire a highly popular business in an attractive trading location. In addition, the current owners have a number of other business interests and operate under part management. There is an opportunity to increase the revenue and profits further from more “hands-on” private management.
PRICING
The premises have been placed on the market at offers over £725,000 for the benefit of the heritable interest and business. A lease sale will also be considered. The current rental is £44,000 per annum. The landlord has agreed to extend the lease (subject to final approval) to provide a purchaser with a term of at least 10-15 years (or longer). Premium offers over £175,000 are invited for the benefit of the business and leasehold interest.
EPC
The property has an EPC rating of D.
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.
