Bruce & Co. are pleased to announce the sale of the Crafters Barn, a well presented restaurant and bar situated inEdinburgh.
Situated in what is arguably one of Europe’s finest and most beautiful capital cities; the business sits within a rejuvenated Old Town district and is well placed near several tasteful bars and restaurants, whilst being within easy walking distance of the night-life found onGeorge Street.
The business had been under the care of Miss Rashid and Mr Holland for over a year, and during this time, has built up an enviable reputation. The business is well supported by the local community, and benefits from high levels of repeat custom. Additionally, due to its location, the business also benefits from impressive levels of passing trade. Despite the business’ profitability, Miss Rashid and Mr Holland decided to bring the business on the market for relocation purposes.
The vendors carried out extensive refurbishment to the entire property to an excellent standard throughout. The restaurant is approximately 2,000 square feet, with the addition of a popular courtyard area which can seat up to 28 covers. The main seating area provides seating for 52 covers and a bar area; all of which is excellently presented with modern wooden tables and chairs. To the rear of the building is a fully equipped kitchen, which has all the modern equipment needed to run a business of this nature. The business also came with customer WC facilities, storage areas and a manager’s office.
Once on the market, after receiving three viewings, Crafters Barn was sold to Mr Stamp on a leasehold basis for £235,000. The offer was received within just three months of the business coming to the market, and effectively sold in less than two months of the offer being made! Initially, the Sales Negotiator at Bruce & Co. who dealt with the sale thought that there may be an issue getting the landlord consent – however, due to Bruce & Co. persistently pushing the sale through, and with all the solicitors working together; the deal completed very quickly.
The main features which attracted Mr Stamp to the business were the great existing reputation of the business and the location.
One of the vendors, Miss Rashid commented, “I will definitely recommend Bruce & Co. again! I was with another agent prior to coming on with Bruce & Co. and the difference was unbelievable. The communication was great, I was updated from start to finish and never felt out of the loop. If I ever need an agent again, I know who to come to! Really glad I made the decision to move to Bruce & Co.”
Safa Sultan, Sales Negotiator at Bruce & Co. commented, “We knew that the business would prove to be popular when it came to the market. It was lovely getting to know Miss Rashid and Mr Holland, and I wish them all the best down South. I also wish Mr Stamp all the best with his new venture.”