DM Hall markets letting opportunity of The Gallery, an established licensed restaurant on Main Street, Tobermory, Isle of Mull at an annual rental of £30000
DM Hall, one of Scotland’s leading independent firms of chartered surveyors, is marketing for lease an established licensed restaurant with external street front courtyard on Main Street, Tobermory, Isle of Mull, PA75 6NT at an annual rental of £30000.
The Gallery, which enjoys high passing footfall given its prime location within the centre of Tobermory, is an attractive Grade B listed former church building. Its open front customer area provides visitors with idyllic views over the harbour and marina.
Fully refurbished with a high-quality fit-out and a well-equipped commercial kitchen, the ground floor restaurant / retail accommodation provides a versatile and flexible open floor space extending to 2733 sq. ft.
The picturesque harbour town of Tobermory is renowned for its colourful painted buildings and the property enjoys a prominent position with magnificent and uninterrupted sea views. Mull has a local resident population of approximately 3,000 but this is heavily supplemented by an influx of tourist visitors all year round but especially during the summer months.
The island enjoys stunning coast lines, outstanding natural beauty and rich Scottish heritage. Visitors come to enjoy wildlife spotting and other outdoor activities, as well as visiting local whisky and gin distilleries. Mull is within easy reach of Oban on the West Coast of Scotland which also enjoys tremendous tourist activity in peak summer.
There are three ferry services to Mull all operated by Caledonian MacBrayne. The main ferry operates a regular service from Oban to Craignure, approximately 20 miles to the south of Tobermory. There is also a passenger and car ferry service between Lochaline and Fishnish as well as a seasonal car and passenger ferry from Tobermory to Kilchoan.
Graeme Todd, a Consultant in DM Hall who is overseeing the marketing exercise, said: “Our clients have previously let the property on short term tenancies but now wish to conclude a longer-term full repairing and insuring lease of a minimum 3-year duration.
“Rental offers in the region of £30,000 per annum are invited, though our clients will be responsible for the payment of any Local Authority rates.
“The Gallery provides an ingoing tenant with a turn-key opportunity as the business has already built up a strong reputation with locals and tourists alike. Although, through current owner choice, the business has traditionally operated from mid-March/April through to the end of October, this is an opportunity for a new operator to shape, adapt and expand the business taking advantage of the increasing all year-round popularity of Mull as a tourist destination, which has been further enhanced by the current “staycation factor”.
“We could envisage The Gallery being ideally suited to a hands-on operator or partnership team who could raise the profile of the business further, expand operating hours and develop the private functions and events offering.
“There have been successful concerts, cocktail and Gin and Tonic evenings which already has an established and solid base. There is also an all-year round wedding venue potential with some existing commitments. The property has a Premises Licence with hours of operation being 11:00-22:00 hours Monday to Saturday and 12:.30 – 22:00 hours on a Sunday.
“Mull is an ideal environment to bring up a family, operate a business and to enjoy life and The Gallery effectively offers a lifestyle business opportunity to an ingoing tenant.
“Whilst our client’s preference is to lease the premises, they would consider a sale of the entire property and offers over £325,000 are invited for the interest together with all fixtures, fittings, equipment and goodwill.