Arthur Jacks sold to property investor
20th July 2020
This wonderful restaurant premises in Forfar, Angus has been sold by Bruce & Co.
Acquired by the vendor in 2014 and thoughtfully refurbished in 2015, the restaurant premises of Arthur Jacks presented an excellent opportunity for a prospective buyer to introduce an ideally located licence & leisure property to their portfolio.
Situated in the county town of Forfar, Arthur Jacks occupies the ground floor of a commanding end-terraced property. The premises benefits from a large degree of repeat custom from the local residential areas, as well as attracting customers from the neighbouring towns and villages.
Constituting the ground floor is a sleek bar and lounge area, lying across from the first of 2 dining areas. This dining location houses a total of 28 covers with stylish wooden chairs and tables, offering an open and airy atmosphere for patrons. Further within the property lies the second dining area with enough seating for an additional 24 covers, as well as the fully equipped commercial kitchen and storage area. The building also contains toilet facilities and a basement for storage.
Seeking retirement from the licenced trade, Brian Nicol made the decision to market the premises and formally instructed Bruce & Co to facilitate the sale, recognising the benefit of using the market leading brokerage for Scottish licenced and leisure.
Following an extensive marketing campaign, generating 2 offers, the premises were sold to property investor David Shepherd, who now plans on leasing out the property to an aspiring restauranteur.
Brian Nicol commented on the sale;
“I was delighted with the sale I made through Bruce & Co. Stephen Croft was the negotiator dealing with the transaction and he kept in touch with me on a regular basis and worked hard to seal a deal for me. He showed that he was passionate about his work and I would highly recommend the services of the team at Bruce & Co, who helped navigate a difficult time during lockdown.”
David Shepherd commented on purchase of Arthur Jacks;
“Stephen was diligent throughout the process and I was delighted to become the new owner. Thanks to Bruce & Co for helping through this transaction.”
Lead negotiator Stephen Croft from Bruce & Co commented;
“I was delighted to hear that the sale of Arthur Jacks was completed. I wish our client and the new owners the best for the future.”