Property Consultant CBRE Instructed to Sell Popular Bar & Restaurant on Albyn Place Venue Comes with Office Space and Planning Consent for 41-bed Hotel
Leading property consultancy CBRE has announced it has been instructed to sell The Albyn bar and restaurant in Aberdeen, representing a unique opportunity for operators and investors.
The Albyn is situated in the heart of the traditional West End business district on Albyn Place and is also in close proximity to Union Street, Aberdeen’s main commercial thoroughfare.
Converted into a high quality bar and restaurant over a decade ago, the property comprises a substantial granite building arranged over lower ground, ground, first and second floors with a modern two-storey extension to the rear.
The main bar and restaurant area is located at ground floor level and is accessed from an impressive granite feature entrance, direct from an external seating area with capacity for over 80 people on Albyn Place. The lower ground floor is also fitted out to a high standard and is run as a late night entertainment venue that caters for private functions and event launches featuring a dance floor and DJ booth. The first and second floors comprise a self-contained office, totaling 2,012 sq ft.
Earlier this year architects Halliday Fraser Munro secured planning permission to convert the property into a 41-bedroom hotel. The consent allows for the existing rear extension to be re-developed to create bedrooms on two upper floors of a four-storey extension building.
Derren McRae, managing director of CBRE Aberdeen, commented: “The Albyn represents a rare opportunity for operators and investors to acquire one of Aberdeen’s best known quality operations with a desirable external seating area, right in the heart of the West End business district. There has been significant private sector investment in the surrounding area in recent years and we are witnessing a number of high profile companies locating to the new office developments nearby.”