New owner sought for established business in seaside town
A RESTAURANT, bar and club business which has been a fixture in the north Ayrshire town of Largs for almost 20 years has come onto the market.
Occupying the upper floors of a historic property just a stone’s throw from the beachfront and the ferry terminal for the Isle of Cumbrae crossing, Lounge comprises a first-floor 90-cover restaurant, a bar area with seating for 45, and a nightclub, which can also be used as a function area and can accommodate around 100 people.
Lounge also has a “unique and sensational” roof terrace at the second floor level, which has its own fully-serviced bar and can accommodate around 60 people. The second floor and attic spaces are currently used as storage but offer “huge development potential”.
Said to date from around 1900, the Dutch Renaissance-style property was acquired by the current owner in 2003 and underwent a major renovation and refurbishment project, marrying original features, such as wood panelling, ornate ceilings, a “spectacular” fireplace and a grand staircase with glass cupola, with stunning interior designs to create Lounge.
The main trading areas were most recently refurbished in early 2020 and are said to have been “designed and fitted to a high standard in an opulent and stylish fashion to compliment the period features”.
Smith & Clough, which is marketing Lounge at offers over £350,000, described it as an “award-winning business with strong historic sales and profits”.
“The premises are in walk-in condition and offer a first-class opportunity for a new owner operator to simply pick up from where the Lounge left off, and quickly re-establish a much-loved Largs institution; or, alternatively, they may choose to rebrand it and put their own stamp on it with little CapEx required,” said the property firm.