Description

UNDER OFFER

Location

Glasgow is one of the strongest retail locations outside London, attracting 3.2 million visitors spending £2.3 billion, including around 800,000 international tourists (2017 figures).

The Willow Tea Rooms are situated in a 100% prime location, with a ground floor entrance and occupying the first, second and third floors above Jo Malone and Penhaligon’s, in the heart of Buchanan Street.

Surrounding occupiers include The House of Fraser, the famous Princes Square, Massimo Dutti and TGI Fridays. The location attracts a very high footfall due to the proximity of both Glasgow Queen Street andGlasgow Central Station, along with Glasgow’s underground system. There is no doubt that the purchaser of The Willow Tea Rooms business will enjoy significant levels of passing trade from visitors to the city, as well as regular customers enjoying the easy access at the heart of the city centre.

Description

The Willow Tea Rooms are accessed via an entrance directly off Buchanan Street, leading up to the first floor White Room and, thereafter, to the second floor Chinese (Blue) Room with offices, storage and bakery at third floor level. The building is a four-storey city centre property with retail at ground floor level.

Accommodation

Total Gross Internal Floor Area approximately 4,571 sq. ft (425 sq. m)

Services

We understand the property is connected to mains water, electricity and drainage. Heating is provided from electric wall heaters and there is a electric immerser system.

The Opportunity

The Willow Tea Rooms opened in Buchanan Street in 1997 and is undoubtedly a Glasgow Institution and has become a must-see attraction to many domestic and overseas visitors. In addition, the tea room is popular with a regular clientele providing a loyal customer base, and is a member of the Glasgow Restaurateurs Association.

The inspiration for The Willow Tea Room is Charles Rennie MacKintosh and his famous iconic designs which form an inherent part of the culture of The Willow Tea Rooms.

The business operates from 9am – 6:30pm, Monday – Saturday, and 10am – 5:30pm on a Sunday. The tea rooms also has a significant retail offer including an online presence. The business focusses on high quality food with all baking undertaken inhouse.

The Willow Tea Rooms offers a unique opportunity to acquire a highly profitable business at the heart of the city centre with undoubted growth potential, either through enhanced operating hours or, indeed, capitalising on The Willow Tea Room’s brand with further bricks and mortar or online growth potential. 

This is a genuine opportunity brought about by the retirement of the founders, who have created a popular business which is a joy to operate.

Financial Information

Full financial information will be available to interested parties after viewing. The business has a strong track record of profitability and total income to year end August 2019 is anticipated at £860,000 excluding VAT.

Price

Our clients are seeking offers over £125,000 (plus VAT if applicable) for the benefit of the business including trade fixtures, fittings, furnishings and equipment along with the goodwill and the right to The Willow Tea Rooms brand, which is to be sold as a going concern.

Stock and trade will be additional and paid for at the date of entry. The business is being sold for the benefit of a new long term tenant full repairing and insuring lease, at a rent of £65,000 (plus VAT if applicable), which will be reviewed to Market Value at 5 yearly intervals. 

EPC

A copy of the Energy Performance Certificate

Floor Plans

There are no property floorplans available

Dataroom

There are no property datarooms available