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Description

Rarely available Freehold Bar-Restaurant in a prime central trading location in Inverness City Centre. This is a popular thriving business with an enviable reputation with smart, modern faciltities generating high turnover and profitability. The spacious first floor offers development potential.

DESCRIPTION
No. 27 needs no introduction in and around Inverness. The premises are extremely well known and have a long established, enviable reputation. Trading year round No. 27 benefits from a prime central location on Castle Street opposite beautiful Inverness Castle.

The business presently operates as a Bar-Restaurant enjoying strong turnover split fairly evenly between catering and wet sales. Offering a good choice of dining options throughout the day No. 27 is a firm favourite with many regulars from business clientele at lunchtime to casual diners in the evening. Within a fairly informal, relaxed atmosphere the standard of the premises, the warm welcome and high quality cuisine combine to form a smart successful business. A good choice of wines, extensively stocked bar and a fine range of Scottish real ales help to engage ongoing support from a wide base.

Such is the perennial appeal of No.27 that it enjoys year round local trade supplemented by the many visitors and tourists who flock to Inverness, the Capital of the Highlands. Not only in sport has the City of Inverness entered the Premier Division. The local football team, Caledonian Thistle is now in the Scottish Premier League and so too is the city in commercial terms. Inverness cuts a fast, dynamic pace on the business front with impressive year on year growth in both commercial development and opportunity in the city. This, in turn, is reflected in the continued population boom which fuels an ongoing round of construction activity as the city boundaries push ever outwards. This growth in the population combines with business expansion and the strength of the area as a tourist trap to drive strong ongoing demand for facilities such as offered by No. 27.

The proximity of Inverness Castle, The River Ness and the City centre reinforce the strength of Castle Street as a central trading base. The wider area around Inverness offers Whisky Trails, mystic Loch Ness, numerous accessible Castle and Culloden Battlefield to name but a few attractions. Scores of busy Guest Houses and bed and breakfast establishments benefit from the magnetism of the Highlands, their patrons in turn seeking out venues such as No. 27 for lunchtime and evening dining.

The vendors purchased the property in 2001 and have made various improvements to the business during their tenure. They plan to retire from the Licensed Trade which brings this scarcely available freehold opportunity onto the market. The owners have other business interests and as a consequence No 27 has been run with higher staffing than would perhaps be required by more hands on new owners. The first floor of the premises is spacious, yet, at present does not accommodate any sales areas. This presents an opportunity for new proprietors to increase trading capacity subject to planning consent etc. As it stands, the business drives a high level of turnover and strong profitability.

THE PROPERTY

No.27 is a smart, modern city centre bar-restaurant facility. It has been run as licensed premises for around 10 years and is arranged over two floors. The main trading area is at ground level fronting onto Castle Street. The open plan layout creates an easily run business.

PUBLIC AREAS

No 27 has an attractive well-signed access, with a Rene MacIntosh theme at No.27 Castle Street, looking towards Inverness Castle. The main entry is conspicuous and well lit with automatic spotlights which are triggered by fading natural light. Partially glazed double doors lead directly into the Lower Bar area which creates a bright modern impression. Seating 30 this has an extremely high standard of internal fittings and furnishings. Good natural light is supplemented by attractive ancillary lighting and background music to form a relaxed and welcoming environment. Customers may dine in the bar area if they wish.Separating the Lower Bar and the Restaurant area is the substantial and impressive bar servery. In addition to a large range of minerals, wines and spirits there is a good selection of draft beer on tap which proves highly popular with visitors and locals alike. The Scottish “Guest” real ales are particular favourites.Towards the rear of the building is the Restaurant. This again embraces the Rennie MacIntosh theme together with more intimate lighting and a subtle change of mood.

SERVICE AREAS

No. 27 benefits from a fully equipped commercial kitchen and washing-up space located on the ground floor adjacent to the restaurant. This has a fully ducted industrial extract system. Alongside there is a large refrigerated cellar with excess space which is used as the dry store/freezer room. Also on the ground floor is the boiler room / store. On the first floor there is a second “preparation” kitchen which is again well equipped, a large spirit store, staff room, administrative office, ironing area / linen store, a further good size store room and further cupboard space.

SERVICES

Mains electricity, gas, water and drainage. Gas central heating.

LICENCES

The business has a full Public House Licence with Regular Extensions.

TRADE

The business presently trades 7 days a week opening
as follows
Monday – Saturday 11am – 11pm
Sunday 12.30am – 11pm
Management accounts for the year ended 30 June
2006 show turnover of £598,486 net of VAT with high
profitability. Full profi t and loss accounts will be made
available to seriously interested parties subsequent to
viewing.
There is scope to develop the trade further. There is much
unutilised space on the first floor. Restaurant hours
could be extended throughout the day, entertainment
could be offered and later opening is possible in line
with existing licences.

PRICE

Offers over £995,000 are invited for the heritable
property complete with goodwill and trade contents
(according to inventory), excluding personal items.
Stock at valuation.

DIRECTIONS
No. 27 is located very centrally to Inverness and is
easily located close to the Castle.

VIEWING
All appointments to view must be made through the
vendors selling agents: