Award Winning Bar & Restaurant Opportunity withing the affluent suburb of Milngavie, Glasgow

Finsbay Lounge

44 Main Street, Milngavie, G62 6BU

·        Award winning, free of tie, Bar & Restaurant Opportunity

·        Situated within the heart of Milngavie Town Centre

·        Completely refurbished only a few months ago. Walk in condition

·        Circa 82 covers plus beer garden & pavement seating (c.100)

·        Vibrant town centre position. Good mix of retail, offices & licensed operators

·        Large, free of charge car park adjacent

·        Close to starting point of West Highland Way

·        Previous sales circa £15k-£25k per week. Not currently trading

LOCATION

The subjects benefit from a prominent corner trading position on Main Street within the desirable and affluent suburb of Milngavie in East Dunbartonshire, which lies approximately 6 miles north of Glasgow city centre.

Main Street is a pedestrianised retail thoroughfare within the town’s main retail precinct and also benefits from surrounding offices, banks, cafes, bars and restaurants ensuring high levels of footfall throughout the day and evening.

Surrounding retail operators include M&S, Boots, Holland & Barrett, Greggs and Costa, and licensed operators include Fullbacks, Charlie’s Loft and the Talbot Arms.

Milngavie is a thriving town and plays host to a number of festivals, shows and street parties throughout the year which all benefit the local businesses.  Milngavie also benefits from high levels of tourists and daytrippers, and is the starting point for the West Highland Way, a long-distance footpath which runs northwards for 96 miles to Fort William and attracts high levels of walkers.  Other nearby amenities and attractions include Mugdock Country Park, Auchenhowie Sports Hub, Lennox Park as well as a number of golf clubs.

The subjects benefit from an adjacent, large, free of charge customer car park, and the subjects are also close to Milngavie Railway Station.

THE PROPERTY

The subjects form part ground floor of Douglas House, a former cinema property comprising a 2-storey traditional property all under a pitched roof.

DESCRIPTION

The subjects are accessed via an entranceway to the right-hand side of the large display frontage and there is also return frontage to the side.  The subjects benefit from a large, enclosed beer garden area to the front which can comfortably seat 60 customers, as well as a pavement seating area to the side which can seat a further 40-50 customers.  Our clients have put gazebos up at the side in the past and have looked at erecting a more permanent awning.

Internally, the premises were completely refurbished at the end of 2023 and have been designed and fitted to an extremely high standard and are literally in walk in condition.  There is seating for approximately 80/85 customers by way of booths, fixed banquet seating, loose tables, chairs and stools.  A stylish, hand-built, fully equipped bar is positioned to the right-hand side of the premises.

ANCILLARY AREAS

• Fully fitted commercial kitchen
• Male, Female & Disabled toilets
• Back kitchen/preparation area
• Beer cellar with Gamko keg cooler
• Dry store & ancillary storage areas

THE BUSINESS/OPPORTUNITY

Finsbay was established by our clients approximately 7 years ago and in this time the business built up an excellent reputation as well as a loyal and regular clientele.  The business traded as an all-day bar & restaurant offering a great selection of brunch, lunch and dinner options as well as an extensive drinks menu ranging from coffees to cocktails.

The business has won a number of awards over the years including East Dunbartonshire’s Best Business and Best Hospitality Business, and Best New Bar in the Scottish Bar & Restaurant Awards.

The premises are set up to deal with high volumes of customers and we have been advised that average turnover was between £15,000 and £25,000 gross per week depending on the time of year, and barrelage was approximately 600 barrels per annum.

Due to a change in our client’s personal circumstances the business has been closed since the middle of January however are literally in walk in condition, so a new owner could reopen the business immediately, or alternatively the premises would easily lend themselves to a new concept or cuisine style should a new owner wish.

FIXTURES AND FITTINGS

We have been advised that all trade fixtures and fittings are owned outright and are free from any hire purchase or lease agreements.

BUSINESS RATES

The subjects are entered into the current valuation roll as having a rateable value of £31,250.

LICENSES

The business trades with the benefit of a premises licence

 TENURE

The subjects are currently held on a 15-year lease from 1st July 2016, with a current passing rental of £25,000 per annum, subject to 5-yearly reviews. We have been advised that the landlord would be willing to extend the lease for an incoming operator subject to covenant.

The beer garden to the front of the property is held on a separate lease from the local council which allows it to be used for 6-months of the year with a rental of £200 per week.  This area is maintained by the council.