Mexican themed restaurant, Pancho Villa’s, has been sold through specialist business property adviser, Christie & Co to an experienced local operator.
The previous owners had run the authentic Mexican restaurant in the Canongate for over 30 years, building up an excellent reputation for providing high quality food and drink with a lively atmosphere. They decided to sell the lease for the popular restaurant in order to retire.
New owner Ruori Stewart, who also owns The Apartment restaurant at Barclay Place, purchased the new lease and plans to trade the restaurant as the apartment pop-up until the property undergoes refurbishment to prepare for a new and unique concept.
Tony Spence, Business Agent at Christie & Co’s Edinburgh office who handled the sale, said: “Pancho Villa’s generated a good amount of interest from the outset and an experienced tenant was secured after a quick closing date was set.
“The market remains interesting with commercial properties continuing to attract interest from investors, experienced multiple operators and first-time buyers.”
Pancho Villa’s sold for over the asking price of £100,000 for the leasehold going concern.