THE Willow Tea Rooms business in Glasgow’s Buchanan Street has been put up for sale by long-time owner Anne Mulhern – who established the outlet in 1997 and is retiring – with offers of more than £125,000 sought.
The tea rooms business, which takes inspiration from Charles Rennie Mackintosh’s interiors for Kate Cranston’s Ingram Street Tea Rooms, generates annual sales of more than £1 million and is described as “highly profitable”.
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The operation includes the White Room Restaurant at first-floor level and The Chinese (Blue) Room Restaurant on the second floor. A third floor includes office accommodation.
Leisure and hospitality sector surveyor CDLH, which has been instructed to sell The Willow Tea Rooms business, expects interest from prospective buyers operating in the sector already and those “wishing to enjoy the ownership of a much-loved Glasgow institution”.
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Ms Mulhern said: “The Willow Tea Rooms has been a joy to create and operate along with my first-class management team and staff. However, after many fun and successful years, I have made the difficult decision that it is time to retire. I know that I am passing on a fantastic business...with real potential, particularly to develop the brand.”
Offers of more than £125,000 are being sought for the leasehold interest, which includes the trade fixtures, fittings, furnishings and equipment, along with the goodwill of the business and The Willow Tea Rooms brand.
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Alan Creevy, director of CDLH, said: “This is a unique opportunity to acquire [a] highly profitable business with sales over £1m [per annum].”
He said the business would be sold on a new long-term lease.
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