Amber Taverns has bought a former post office in Coatbridge North Lanarkshire for £165,000.
Located on the southern side of Main Street towards the eastern end of the main retail parade in close proximity to the entrance of the Quadrant Shopping Centre, the 2,341 sq ft property occupies a prominent trading position.
Fraser Smith, Commercial Agency at Shepherd in Glasgow who acted for the Post Office in the deal, said: “While this former post office building has been vacant for several years and there are a number of voids nearby, the licenced trade sector is performing strongly in this area and this is one of the reasons why Amber Taverns has purchased this property with the aim of refurbishing and converting it into the latest addition to its expanding portfolio of high standard community pubs.”
Sam Frankland, Property Director at Amber Taverns, added: “We look forward to bringing an Amber pub to Coatbridge and hope our investment will stimulate further growth on the Main Street. We will invest around £600,000 in this building to create an attractive pub which we believe will appeal to a wide range of customers.”
Amber Taverns has 145 public houses across the North West, North East, Midlands and Wales. These are mainly community locals in busy towns as well as some city centre venues. Coatbridge is the second pub the company has purchased in Scotland with its Paisley premises due to open this summer and the Coatbridge venue scheduled to open this autumn. Two further Scottish outlets are earmarked for opening this year.
Shepherd Chartered Surveyors acted for the Post Office while Amber Taverns was represented by CBRE.