La Rusticana Ristorante/Pizzeria, Edinburgh

La Rusticana Ristorante/Pizzeria, Edinburgh

Property Details

Type:
Restaurants
Lease:
Leasehold
License:
Full Premises License, Hot Food Consent
Price:
Offers Over £75,000
Reference:
1299
EPC Rating:
G
Closing Date:
30th August 2018 at 12:00

Property Description

  • Closing Date: 30th August 2018 at 12:00
  • Offers Over £75,000

An opportunity for the first time in nearly 30 years to operate from this City Centre site.  A strong trading location adjacent to the HSBC Bank on Hanover Street within Edinburgh's Golden Rectangle.  Sitting in a highly visible corner location the business fronts on to Havnover Street and with a side entrance also on to Thistle Street.

Situation

The property is positioned on the West side of Hanover Street with an East Facing aspect and below a Beauty and retailing unit which in turn sits adjacent to HSBC Bank.  On the immedate corner opposite it Hendersons Deli/Cafe and the business is positioned in amongst a popular bar/restaurant community with Bar Napoli, Urban Angel, All Bar One, Passorn and Bar Soba.

The Business

The business has been operated by our clients and their family since 1990 and is and out and out traditional Italian restaurant and is one of the few remaining long established Italian owned and operated businesses in Edinburgh.

With an unashamedly good Pizza and Pasta offering the business has enjoyed a long-standing relationship with the Edinburgh citizens and tourists alike, consistent in its offering, its welcome and standards of cuisine.  It offers the opportunity for either an existing or new Italian operator to take over the reputation, re-invest and move to another trading level or for a new operator to take full advantage of the trading location.  Presently open just 5 days a week and for lunch and dinner only the Premises Licence allows for 7 day opening from 12 noon to 1am daily.

Trading Information

Trading, Profit and Loss Accounts show a net turnover of £351,587 ex VAT to the 31 January 2017.  A gross profit of nearly 79% was achieved for the same trading period.  Accounts will be supplied to interested parties after formally viewing the premises.

Tenure

Leasehold.  The current lease operates on the residue of a 15 year lease term to 21 January 2029 with a passing rent of £44,000 per annum.

Rates

We are advised by the Lothian Valuation Joint Board that the Rateable Value for the premises as at 1 April 2017 is £57,500 per annum.  Rates payable are in the order of £26,450 per annum.

 

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