REF PHILEAS FOGG WORLD BUFFET & SOFT PLAY, 57 KIRK ROAD, WISHAW, ML2 7BL GUIDE PRICE 175,000 Leasehold

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1 REF. 987 PHILEAS FOGG WORLD BUFFET & SOFT PLAY, 57 KIRK ROAD, WISHAW, ML2 7BL GUIDE PRICE 175,000 Leasehold

2 175 cover world buffet restaurant Walk-in condition Fitted to an exacting and high standard Completely renovated in 2016 Turn key opportunity for new operator Currently trading as a world buffet restaurant although would suit a variety of international cuisines High quality kitchen and service areas Brand new childrens soft play area on the first floor with separate party room on second floor Town centre location Situated in busy Lanarkshire town located close to other major centres Huge potential for new hands on owners SITUATION This high quality business opportunity is situated in the north Lanarkshire town of Wishaw. Wishaw has a population of circa. 30,000 and is situated close to the larger towns of Motherwell and Hamilton and is situated within the boundaries of the greater Glasgow area. Glasgow city centre is approximately a 30 minute drive west whilst the M8 motorway, the main motor route which links central Scotland is around a 10 minute drive from Wishaw. The business enjoys a prominent town centre location and is an ideal opportunity to serve the local community as well as visitors to the area. THE PREMISES The premises occupies a commanding and highly prominent trading location on Kirk Road, one of the main streets in central Wishaw. The property was formerly a cinema, bingo hall and latterly a nightclub before it was changed to restaurant use. This is a substantial detached property with accommodation over ground, first and second floor levels. INTERNAL DETAILS Main entry is via an entrance vestibule which then leads into the main restaurant area. During our client s tenure they have invested heavily into the external and internal refurbishment of the property and as a consequence, this business opportunity is offered to an exceptional standard with no expense having been spared in terms of aesthetic refurbishment and investment in fixtures and fittings, both front and back of house. Internally, the property briefly comprises an entrance vestibule leading into a separate bar area. This then leads comfortably into a large open restaurant area accommodating covers comfortably. Seating is by a mixture of booth style seating, quality timber tables and chairs arranged around a double horseshoe of self-service buffet areas. PHILEAS FOGG SOFT PLAY Our clients have invested wisely into the diversification of the business by creating a separate business on the first floor. Phileas Fogg Soft Play is accessed via an entrance hallway leading into the restaurant by a set of stairs leading to an exceptionally well presented childrens soft play facility complete with fully regulated and brand new childrens play frame. The soft play area has a café area and can accommodate around 50. Additionally, there is also a private party room which is used for childrens birthday parties and other celebrations which is accessed via an internal stair leading from the soft play area. This area is fully fitted with tables, chairs and function equipment including bar

3 SERVICE AREAS Service areas of the business include ladies, gents and disabled toilet facilities. Exceptionally well fitted commercial catering kitchen complete with brand new Chinese style cooking ranges, walk-in freezers and fridges and all the usual catering equipment one would expect in additional to a live demonstration cooking kitchen which has a double chef station as well as a large pizza oven. EXTERIOR There is an undeveloped beer garden area to the rear. RATEABLE VALUE According to the Scottish Assessors website the rateable value as per 1st April 2017 is 30,000. THE BUSINESS The business was fully refurbished and opened by our clients in the summer of The astute diversification of the business to include a childrens soft play centre has added an exceptionally valuable income stream to this potentially hugely successful business. Our clients have significant other business interests and as a consequence they have placed this opportunity on the market. Prospective purchasers will inherit a superbly equipped world buffet restaurant which under hands on management the full potential of the business and the comprehensive refurbishment can be realised. Our clients are unable to run the business on a hands on basis and as a consequence they feel they are unable to fully capitalise on the undoubted potential of the business. Prospective purchasers will be acquiring a real turn key opportunity and in the correct hands the business can be fully exploited to its true potential. At present, the business is run under management with the assistance of 8-10 members of staff. Although set up as a world buffet restaurant, it is envisaged that the property could convert to a variety of different international cuisines very easily. WEBSITE TRADING FIGURES Management accounts will be made available to seriously interested parties only after formal viewing. TENURE The business is being sold on a leasehold basis with the residue of a 25 year lease which commenced in The current rent is 25,000 per annum. A copy of the lease will be made available to seriously interested parties after a formal viewing. SERVICES We are advised that all mains services are connected. SUMMARY The availability of this business in this densely populated part of the greater Glasgow area will surely be of interest to those looking to acquire a potentially hugely profitable business with valuable income streams from both the restaurant and soft play. To an extent, our clients have future proofed the business in terms of capital expenditure with a recent refurbishment at a considerable cost to our clients which can be taken advantage of by new tenants. PRICE The guide price is 175,000 to represent the leasehold interest in the property, goodwill of the business and the fixtures & fittings. VIEWING & OFFERS Strictly via the sole selling agents Cornerstone Business Agents. Phone or info@cornerstoneagents.co.uk. All offers couched in Scottish legal terms should be submitted to the sole selling agents.

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5 Cornerstone Business Agents The Walled Garden, Bush Estate Midlothian EH26 0SD Phone Fax E mail info@cornerstoneagents.co.uk

6 IMPORTANT NOTES RE. THIS BUSINESS Sales Particulars & Web Listings Please note any information contained in sales particulars or web listings for businesses being marketed by Cornerstone Business Agents is intended for general guidance only and should not be taken as statements of fact. Prospective purchasers should always seek independent professional advice before committing to purchasing a business. Viewing Appointments Whilst it is a good idea to visit a business that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, owners or customers of the business. Many businesses are being marketed confidentially and the staff and locals may not know that the business is on the market, therefore a casual approach can adversely affect the business. Formal viewing appointments should always be made via Cornerstone Business Agents by calling or completing our viewing request form. If you wish to cancel an appointment or will be delayed please inform Cornerstone as soon as possible. During out of office hours please call the business direct - however only speak to the person to whom your appointment is with. Please drop us an at info@cornerstoneagents.co.uk or give us a call on after you have viewed to let us have your thoughts and feedback on the business you have viewed. Trading Figures & Accounts As sales particulars are readily available to be downloaded from the internet it is rare that confidential trading figures are included in sales particulars. For reasons of confidentiality accounts are in most cases only available after a formal viewing. We understand that this can cause problems as it is pointless viewing a business that is not affordable. We therefore suggest that you call Cornerstone and ask for the agent handling the sale who will give guidance on trading levels and profitability before you view. Business Finance There are a wide range of funding options available to assist with a business purchase. Cornerstone work with a wide range of lenders and commercial finance brokers to ensure that purchasers of our clients businesses obtain the most advantageous funding facilities available. Please contact us if you would like to discuss business finance options with one of our independent specialists. We strongly advise that business purchasers discuss funding criteria with a specialist broker at an early stage. Discussing funding criteria with a single lender is unlikely to result in the best funding solution being found. Please call to speak to one of our finance specialists. Legal Aspects of Buying a Business in Scotland You will need to instruct a Scottish solicitor to act on your behalf when buying a business in Scotland. Scottish law differs from English law. It is important to instruct a solicitor who is experienced in buying the type of business you are considering. Cornerstone offer a list of solicitors that we can recommend. Please drop us an to info@cornerstoneba.co.uk for more information.