LOCATION
The subjects benefit from an excellent trading position on Castlehill Street, close to its junction with High Street within the heart of Rothesay, a popular Victorian seaside resort and the main town on the Isle of Bute within Argyll & Bute, Scotland. The subjects are only a 2-minute walk from the ferry terminal and main harbour. The surrounding area is home to a good mix of shops, hotels, pubs, restaurants and cafes, and is a hive of activity throughout the day and evening.
The subjects are positioned directly across from the ruins of Rothesay Castle which is a popular tourist attraction, with the castle being described as one of the most remarkable in Scotland due to its unusual circular design and surrounding moat.
Rothesay is a thriving seaside town within the Isle of Bute, which has a resident population of approximately 6,020 people however this number swells considerably particularly in the summer months with high levels of tourists and day trippers flocking to Rothesay and to explore the stunning Isle of Bute. Caledonian MacBrayne operates a frequent ferry service from Wemyss Bay, which offers direct rail links to Glasgow, and there is also a ferry from Rhubodach on the north of Bute to Colintraive giving access to Argyll and the West Highlands.
The Isle of Bute is an area of outstanding beauty and attracts high levels of outdoor enthusiasts, with a wealth of activities on offer including sailing, hill climbing, walking, cycling, fresh water and sea fishing, as well as shooting and stalking. There is an 18-hole golf course at Rothesay as well as smaller courses at Port Bannatyne and Kingarth, and there are also 3 bowling clubs.
Other nearby attractions include Mount Stuart, a 19th century mansion with extravagant interiors and expansive gardens, The Rothesay iCentre, the Isle of Bute Distillery, Bute Museum and the famous Victorian public toilets.
THE PROPERTY
The subjects comprise all 4 floors of this traditional 3-storey with basement, stone-built property, all under a pitched slate roof, with a 2-storey projection to the rear under a pitched roof. There is also a small garden area to the rear.
DESCRIPTION
The subjects comprise a public bar and separate lounge/games area with an overall licensing capacity of 80 people. The main door leads into the public bar which has a very traditional feel to it. The bar/servery runs down the left-hand side and there is a small amount of seating with loose table and chairs and bar stools. The walls of the bar are adorned with years of history with photos, bric a brac and memorabilia. There are 5 flat screen televisions and a fruit machine.
The Lounge/Games area is accessed from the rear of the bar. This area was completely refurbished in October 2022 and has been well designed and fitted. There is seating for approximately 50 customers with stylish Chesterfield style, leather banquet seating, as well as loose tables and stools. This area benefits from a pool table, 3 dart boards, 3 flat screen televisions, a juke box and fruit machine. Again, the walls are adorned with photos, artwork and memorabilia.
ANCILLARY AREAS
The subjects benefit from male and female toilets as well as a large basement cellar which is home to a sizeable storage area, cold keg store, spirit store and office. The cellar is at pavement level to the rear and provides access to Montague Street for deliveries and bin collection etc.
THE FLATS
The sale includes 4 separate flats that are positioned above the pub on the 1st and 2nd floors of the property. They comprise of 2x 1 bedroom flats and 2x studio flats. All of the flats are modern and well maintained, with double glazing and central heating. The 4 flats produce a rental income of approximately £20,000 per annum.
THE BUSINESS
Our client’s family have owned and operated Mac’s Bar for approximately 72 years, with our client running it for the last 46 years, so the business is therefore extremely well established and something of a local institution.
The pub trades very much as a traditional local’s bar with a loyal and regular clientele, with a welcoming atmosphere which also attracts tourists and day trippers, particularly in the holiday season when the hotels, B&B’s and holiday homes are at full capacity.
The pub shows a variety of live sports on its 8 screens, with Sky Sports, TNT Sports and the Racing Channel, and provides betting slips for the nearby bookmakers. There are regular events every week with the pub hosting quiz nights, darts league, pool league and dominos league, and is a real hub of the local community.
The property has only been put up for sale due to retirement and offers a tremendous opportunity for a new owner operator to take on this long established and well performing business which continues to go from strength to strength, and when you include the flat investments it is a considerable chunk of property and a great overall business opportunity.
FIXTURES & FITTINGS
We have been advised that all trade fixtures and fittings are owned outright and are free from any hire purchase or loan agreements. Some photos and memorabilia are personal to our client and will be removed upon sale. Such items can be identified at the time of viewing.
TRADING INFORMATION
Accounting information for the year ending 31st March 2023 shows a net turnover of £217,278 producing a gross profit of £135,870 (62.5%) and an adjusted net profit of circa £50,000. Further trading information can be made available to interested parties only after formally viewing the business.
LICENSES
The business trades with the benefit of a premises licence. Permitted licensing hours are 11am-1am, 7 days.
RATES
The subjects are entered into the current valuation roll as having a rateable value of £15,000 although this has been appealed by our clients.
