4A-6 Stephen's Brae
Inverness IV2 3JN
Retail Property For Sale

DESCRIPTION The Fig and Thistle Restaurant is an attractive high-quality restaurant situated in the heart of Inverness. This beautifully presented business benefits from a popular trading location within the City centre on the popular thoroughfare of St Stephens Brae. This charming restaurant is a popular venue with the many tourists who visit Inverness swelling demand for tables in the main season (Apr – Oct) plus it has a great reputation with the residents of the City as well as on various review sites. The extant business model trades high quality food and excellent service to the 42 covers within the restaurant. The kitchen is modern and ideally set out for superb service provision. All the public areas and service aspects have been well-maintained. The business is a walk-in opportunity where new owners wish to continue a similar quality operation. There is high demand in Inverness for restaurants such as the Fig and Thistle, making the business model highly sustainable. The level of trading is high but the current owners feel that new operators could take the business to the next level by driving output throughout the day and opening 7 days per week. The Fig and Thistle Restaurant has a truly alluring character offering an excellent mix of high-end modern Scottish cuisine utilising a range of locally sourced products. TRADE The Fig and Thistle Restaurant has a strong customer base generating an excellent level of turnover with a high profit conversion ratio making this an excellent trading entity. The business generates a high Net profit from fairly relaxed operating hours. The business is open 4.5 days out of 7, closing Sunday, Monday and opening for evening meal service Tuesday. The restaurant opens for lunchtime service on Wednesday through to evening meal service; this is repeated Thursday to Saturday. There is undoubted scope to expand the trade where new owners wish to increase income and service provision. The business is presented to the market requiring no further capital investment. The business draws its income from the many tourists who visit Inverness and the Highlands plus is a popular destination venue for those living and working in the area. REASON FOR SALE The current owners purchased the restaurant in 2015 and after developing the business to a high standard, they feel that they wish to relocate and focus on their family which brings this attractive opportunity to the market. LOCATION The Fig and Thistle Restaurant is situated in a most prominent trading location ensuring a high level of passing trade both from tourists and locals alike. The business is immediately across from the Eastgate Shopping Complex which is the main retail area of the City. In addition, Stephens Brae is just off Inverness High Street which also generates a high level of footfall. Inverness is a popular tourist destination with a high number of hotels, guest houses and selfcatering establishments swelling the number of inhabitants to the City during the spring and summer months. The City itself has extensive facilities boasting two golf courses, an excellent indoor swimming complex, cinema, bowling and ample opportunity to enjoy evening entertainment at a range of venues which includes Eden Court Theatre. Nearby Cawdor Castle offers a taste of Scotland’s medieval past while Culloden Battlefield and Visitor Centre are most popular attractions with both UK and overseas visitors. Whether it is a Whisky Trail, a boat trip on Loch Ness or a visit to one of the many accessible Scottish castles, Inverness is an ideal base to explore the many visitor destinations across the Highlands. The City of Inverness is a vibrant centre of tourism and commerce presenting many opportunities for expanding this establishment. The new University of Highlands and Islands campus is indicative of the continuing growth of the City over recent years, as are the increasing number of housing developments. THE PROPERTY Fig and Thistle Restaurant is an excellently presented business in a superb trading location. The business operation is set over three floors with customer access at street level. The property is of stone construction under a slate roof. The building dates from the late 1800s. PUBLIC AREAS The business has a commanding presence on one of the main arterial routes through Inverness. With excellent signage and branding, customer access to the trading elements is off the pavement to the front through a glazed door. Once inside the restaurant, there is a server to the left-hand side with free-standing wooden tables and chairs. The ground floor restaurant has seating for up to 22 covers and stairs to the rear lead to a first floor restaurant seating 20 custome SERVICE AREAS There is a superb commercial kitchen located on the first floor with a ‘dumb waiter’ providing service to the ground floor units. This exceptionally well fitted out workspace comes complete with extraction unit, quality facilities, utensils, etc. The food preparation area has ample chill and freezer units. There is a large dry goods store on the second floor plus additional storage. Also, on the second floor is an office and spacious staff facilities including staff WC. OWNER’S ACCOMMODATION There is no owner’s accommodation with this business. GROUNDS The Fig and Thistle Restaurant has an alfresco area set to the front aspects which is popular in the summer months. There is ample local parking. FINANCE AND LEGAL SERVICES ASG Commercial Ltd is in touch with several lenders who provide specialist finance to the hospitality trade. Paul Hart (Director Commercial Sales) will be delighted to discuss your financing requirements with you and make an appropriate introduction. We have access to a large team of legal experts who can act in all matters arising OFFERS All offers should be submitted in writing to ASG Commercial Ltd with whom purchasers should register their interest if they wish to be advised of a closing date if one is set VIEWING All appointments must be made through the selling agents: ASG Commercial Ltd 17 Kenneth Street, Inverness, IV3 5NR T: 01463 714757 M: 07799 896931 (Paul Hart) E: info@asgcommercial.co.uk W: www.asgcommercial.co.uk SERVICES The subjects benefit from mains electricity, gas, water and drainage. The premises are fully compliant with Environmental Health and Fire Regulations with modern detection systems. TRADE The business trades to a high level generating sound profits. Detailed accounting information will be made available to seriously interested parties subsequent to viewing. LICENSES The Fig and Thistle Restaurant operates a liquor license under the Licensing Scotland Act 2005. PRICE Offers Over £185,000 are sought for the assignation of the lease plus goodwill and trade contents (according to inventory). Stock at valuation. LEASE A copy of the lease is available from the selling agents (ASG Commercial Ltd) to seriously interested parties. WEBSITE The business does not currently have a web