TWO former Punch Taverns pubs in the east of Scotland have come onto the market.
Property agent CDLH is marketing The Railway Tavern in Penicuik and The Dalmeny Bar on Leith Walk, Edinburgh, on behalf of the pubco.
The Dalmeny Bar, which was said to have been among the area’s first, is described as a traditional pub with an “easily-managed” single bar operation.
“From an operating business perspective, this will limit operational costs substantially, deriving the highest possible profits from the business,” said CDLH director Peter Darroch.
“The premises lies in an excellent trading location on Leith Walk, which has seen significant changes over the last few years with a substantial number of new retail occupiers, coffee shops, restaurants and public houses being developed.
“There is no doubt that Leith Walk has now become an established thoroughfare and popular licensed destination in its own right.”
The Dalmeny Bar is available for offers over £185,000 for the freehold.
The agent is also marketing The Railway Tavern in Penicuik on behalf of Punch.
Said to offer scope for development, the business comprises a 70-cover trading area and commercial kitchen; there’s also a three-bedroom flat and a “generous” outdoor area.
Darroch said the venue, for which offers of around £250,000 are sought, occupies a “first class” trading location on Penicuik’s High Street.
“Penicuik has a substantial population in the region of 22,000 and the Railway is ideally situated to capture significant trade, with the added benefit of on-street car parking immediately to the front,” he said.
“The premises includes a large three-bedroom flat together with a yard which could incorporate an attractive beer garden or additional seating area.
“The premises has suffered from a lack of investment over the years.
“However, given the trading location and added benefits of a large flat and beer garden, the property offers superb potential to be refurbished either as a quality bar with food or, alternatively, a dedicated restaurant.
“At this pricing level, we believe a purchaser can develop a first class business, offering superb return on purchase price and refurbishment costs with a large three-bedroom flat.
“Given the price level, we are expecting significant interest.”