Local operator moves in on Merchant City business
Glasgow restaurant The Italian Kitchen has been snapped up by local restaurateur Marco Mozzachiodi in a deal brokered by CDLH.
Mozzachiodi, who also owns Viva Ristorante in the city, acquired the business, which was put on the market in April with an asking price of offers over £995,000.
Situated on Ingram Street in Glasgow’s Merchant City, The Italian Kitchen has a licensed capacity for 228 people.
Mozzachiodi is said to have plans to continue trading the venue under The Italian Kitchen name.
Peter Darroch, director of CDLH who handled the sale, said the business had been placed on the market by previous owner Paul Stevenson, who “after many years of successful operation has decided to sell to concentrate on other business ventures”.
Darroch said that market conditions have “improved substantially” and highlighted the swift sale of The Italian Kitchen as further evidence of this.
“This transaction took place smoothly from start to finish and both the purchaser and seller are delighted with the outcome,” he said.
“It’s great to see market activity returning and with the resurgence of bank lending we are very hopeful that market conditions will continue to improve.
“The marketing of The Italian Kitchen highlights that as long as a professional marketing process is implemented good results can be gained for both buyers and sellers.”