A “very popular” restaurant and bar in the centre of a famous market town has been put up for sale.
The 100-cover restaurant has a beer garden and good turnover and profit, Cornerstone Business Agents said.
“The affluent market town of Kelso is a highly sought-after residential locale in the Scottish Borders,” Cornerstone said.
“It is a popular market town and tourist area with many attractions drawing year-round visitors including holidaymakers, tourists, day trippers, racegoers and fishermen.”
The agent added: “Some of the attractions in Kelso include Floors Castle, Kelso Abbey, Kelso Show Ground and Racecourse as well as nearby world-class fishing on the River Tweed.
“The Waggon Inn occupies a prominent trading location in the town centre in an ideal location to cater for local, passing as well as tourist trade. The town has a resident population of around 6,000 although this swells in the busy summer period.”
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Cornerstone also said: “Our clients have run and managed The Waggon Inn since 2010 and have skilfully managed to convert the business to a highly desirable restaurant and bar with the emphasis very much on the food side. The current breakdown of turnover represents an approximation of restaurant sales at 75% and drink/wet sales at 25% of turnover.
“Internally, the business is offered in excellent condition as our clients have continually invested into the internal fabric of the public areas.”
The owners’ accommodation is accessed from the rear. The flat accommodation comprises lounge, kitchen, bathroom, two ensuite bedrooms on the first floor and two further bedrooms on attic level. Purchasers “should be aware the flat requires some modernisation”.
“This area offers excellent potential for conversion into a full owners/managers flat, letting/B&B potential or for large scale development of the property which could include conversion of the downstairs kitchen into a traditional dining/beer garden space and moving the commercial kitchen up into the flat,” the agent said. “These plans would, of course, be subject to Local Authority planning consent.
“The business is currently run under management with the day-to-day assistance of one of the owners. It is envisaged that wages could be further reduced by more hands-on day to day management.”
The freehold is offered at a guide price of £550,000.
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