A popular restaurant at a busy location in an “affluent suburb” has been sold.
The eaterie that was taken on by a husband and wife team four years ago has now changed hands.
The Scottish Business Agency, which handled the sale of Cutler in Giffnock, said: “Great to complete on this beaut of a restaurant in Glasgow's Southside.
“Acquired by a successful business owner looking to transform it into an exciting franchised food offering.”
The agency also said: “Interest was high on this business given the high specification, busy location and off-street parking nearby. Smooth process all down to a professional buyer and experienced sellers.
“This site was taken on by husband and wife team Anthony and Fallon Cowley in 2020, adding to their growing Meraki Restaurant Group. It was then stripped back to nothing and refurbished to a high standard, with all-new kitchen, bar and finishings before launching Cutler Lobster & Steaks.
“The restaurant is suited to multiple cuisine types due to the size and location, and wouldn’t take much to transform into a new offering given the high specification of the fit-out and kitchen. There is free parking adjacent to the premises.”
SBA also said: “Giffnock is a popular and affluent suburb of Glasgow’s Southside with a huge food and drink offering and highly sought after for operators.
“Located south of Queen’s Park/Shawlands, close to Newton Mearns, Clarkston, East Kilbride and Barrhead.
“Giffnock is a fantastic location to add-on for an existing operator in the west-end, east-end, city centre or even outwith in surrounding local authorities such as Lanarkshire, Renfrewshire and Ayrshire. With more people having the ability to work from home, suburbs of Glasgow such as Giffnock are seeing many new and expensive homes being built and population increasing each year.”
The value of the deal was not disclosed but the leasehold was marketed at an asking price of £120,000.
Former British fashion icon to join Scandinavian wardrobe
Online clothing retailer Asos has sold a 75% stake in the Topshop and Topman brands to Heartland, the Danish investment company owned by billionaire Anders Holch Povlsen.
The £135 million transaction will see the two form a joint venture that will grant Asos "certain design and distribution rights" for Topshop and Topman in return for a royalty fee, which will allow it to continue marketing and selling the brands online. There will also be a relaunch of Topshop.com, but there was no mention of plans to open physical stores which at their peak numbered more than 300.
BUSINESS HQ MONTHLY
Reality bites for Scotland's celebrated food and drink industry
It is one of Scotland’s most celebrated and economically important industries, generating exports worth more than £6 billion, and employing around 120,000 people across the country. But while our finest food and drink is known the world over, savoured in high-end restaurants and found in shops and markets in many countries, it faces considerable headwinds on the home and international fronts.
High costs, labour shortages, climate change and an enduring Brexit hangover are among the headline challenges producers face as they bid to ensure the industry can prosper in the generations to come.
Industry figures say more should be done to ensure Scotland makes more of the food it needs and relies less on cheaper imports from abroad. They are also calling for investment in logistics and transportation to ensure Scottish food and drink reaches markets more quickly and efficiently, and help the industry realise its net-zero aspirations.
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