Times Square

54 St Enoch Square, Glasgow, G1 4DH

GLASGOW CITY CENTRE

Times Square, located in St Enoch Square in the heart of Glasgow occupies a prime location in this upgraded retail area, surrounded by new hotels, St Enoch shopping centre, vue cinema and subway station. This is a traditional bar diner with self contained function room and large external area; the bar is wet lead with a 61% wet % 39% dry sales mix. This is already an established business with scope to grow. Food plays a large part here as does the well used external area situated at the front of the property. The biggest opportunity is the development and marketing of the function space. The pub received a £300,000 investment in 2019 and still in very good condition. The environment and location would suit the current demographic but with the opening of the new hotels in this area we are seeing more tourists and business people use the pub for meetings, coffees, lunch and dinner.

Location

This pub is ideally located within a large retail area in Glasgow's busy city centre. Well appointed for public transport (subway station located directly across from main entrance and many bus routes in and around the square) and situated in a pedestrianized square, this site as great visual impact and lots of passing trade. The St Enoch centre is located directly across from the pubs entrance.

Business Information

Annual rent

£75,000

Weekly rent

£1,442

Entry costs

£33,468

Turnover royalty

n/a

Forecasted Operator Turnover

£932,216

Forecasted Operator Profit (inc machine profit)

£74,670

Forecasted Operator Machine Profit

£1,852

Average Beer & Cider Discount*

£72

Type of Tie

Partial tie: Tied All Beer, All Cider & Minerals

Agreement

Standard Tenancy Agreement. A fixed 3 year term. Machine income is shared 50/50

Entry cost is approximately £33468 which includes Fixtures & Fittings at 25% of estimated valuation, stock, glassware, cutlery, crockery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit. Please note Fixtures and Fittings are estimated at approximately £61,270.00. An assisted purchase of F&F may be available with a 25% deposit on change day and weekly re payments to purchase the remaining 75% over an agreed period.

Deposit

£6,000

Fixtures & Fittings

£15,318

Legal Admin Fee

£825

Broker Fee

£0

Stocktaking Fee

£150

Working Capital

£10,000

Other Costs

£1,175

Total Entry Costs

£33,468

You will need to estimate the turnover you expect to achieve from the pub, with regard to food and accommodation (if applicable). Barrelage figures are given to assist you with calculations. All figures represent products bought from Greene King only. **Please note trading volumes for year 2021 are for part year trading and reflect the impact of closure during the Covid 19 pandemic**

Year Beer (Brls) Wine & Spirits (Ltrs) Minerals (Ltrs)
2023 276 0 15,213
2022 240 6 13,153
2021 179 9 8,611

There is a large outside area with 60 covers. On entry there is a large bar area set up for both drinkers and casual dining. The bar is a u shape and with a designated booth seating for diners round the back. There is a second bar / function room also accessed from the front or the rear. The large commercial kitchen is situated in the basement along with the cellar which are both serviced by lifts.

Trade Bars

2

Trade Dining Areas

3

Trade Kitchens

1

Trade Food Covers

200

Trade Gardens

0

Trade Patio Areas

1

Trade Rooms to Let

0

Meeting Rooms

0

External Child Play Areas

0

Function Rooms

1

Customer Car Park Spaces

0

Current Premises Licence Opening Hours

Mon-Sun: 11:00-00:00

The is no accommodation on site.

Private Rooms

0

Lounge

0

Dining Rooms

0

Double Bedrooms

0

Single Bedrooms

0

Bathrooms

0

Toilets

0

Private Kitchens

0

Offices

0

Bedsits

0

BDM Portrait

This great pub would suit an experienced operator or couple with the ability to run front and back of house. I'll be looking for strong knowledge and experience of Glasgow city centre trading and the ability to handle high volumes of food and drink sales. An exciting digital presence, allied with great management skills will be key to your success.

Sandra Donnelly, Business Development Manager

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