Sale of restaurant in seaside town offers opportunity
OPERATORS who like to be beside the seaside might be interested in a restaurant in the North Ayrshire town of Saltcoats.
The property is located on High Road at the Jack’s Road junction in the seaside town; Saltcoats looks across to the Isle of Arran and merges with neighbouring Ardrossan and Stevenson to form ‘The Three Towns’.
Trading as The Corran Inn before closing in August last year, the property comprises a 74-cover bar restaurant and a 32-cover fitted bar and bistro.
It also has two commercial kitchens and a beer cellar.
Externally, the property features a beer garden and a car park with space for up to 31 vehicles.
Last refurbished in 2009, The Corran Inn is said to remain “comprehensively fitted” for its former use in the main restaurant, bistro and ancillary areas, including its kitchens.
The property was leased to a third party until August 2018. They paid a rent of £75,000 per annum for the lease.
The owner occupier, who has leased the site for the past six years, is now seeking to sell the property in order to retire from the business.
Paul Shiells, director of the licensed and leisure team at Colliers International, which is seeking offers in the region of £495,000 for the freehold of the business, said the sale of the restaurant “is a great opportunity for a new owner to acquire an attractive licensed business in a good residential area”.
“With its prime location on the busy High Road (A738) at the Jack’s Road junction, the restaurant benefits from a lot of traffic from The Three Towns residents – and is well-placed to regain its recent success under new ownership,” said Shiells.