This is how much a champagne bar in Edinburgh's West End is expected to fetch

Owners put business up for sale after only nine months

Thursday, 2nd January 2020, 12:26 pm
Updated Friday, 3rd January 2020, 1:34 pm

A SWANKY champagne and cocktail bar in the heart of the West End has been put up for sale.

An online advert states that Fizz on in Charlotte Lane has been open for nine months with an projected first year turnover of £360,000.

Owners are selling up for "personal reasons" and have slapped a £70,000 price tag on the leasehold with furniture and fixtures included.

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Sellers say Fizz on Charlotte Lane had a 200,000 refit in June

"There is a huge opportunity in this prime location to improve trading as prior owners accounts indicating £560k to £810k was stated," reads the ad.

"The business has forward bookings into next year for its separate VIP room and the business is now becoming established."

The current owners are understood to have splashed out on a £200,000 refit in June while the business has a 10-year lease and full licence.

Located on the ground floor corner of a Georgian block, the bar was previously the Sygn retro diner.

The bar currently employs six staff

The ad continues: "Popular road with well established bars and restaurants.

"Will benefit from the Johnnie Walker museum currently being built on the corner who are targeting 700,000 visitors a year.

"Bar will benefit from the street being pedestrianised next year giving extension pavement area for outside seating."

The bar currently employs six staff with £60,000 fixtures and furniture included, as well as £5,000 of stock.