Bell Ingram Secure Major Letting in George Street, Oban
Wednesday, July 24th, 2013
on behalf of Bell Ingram
Acting on behalf of Hansteen Property Investments Limited, Bell Ingram’s Oban office has let the former Pancake Place premises in a prime trading location in the town’s George Street, to Palava Limited, a new family-run and family-focussed restaurant, operated by local entrepreneurs Val Hamilton and Paula May.
The property, extending to some 250m2 (2,700ft2) over four levels, has been let at asking terms under a new ten year lease simultaneously with the expiry of the lease to the previous occupier, thus ensuring that the landlord has minimised void costs.
The new, 90-cover restaurant, selling freshly prepared and cooked to order, high-quality food and beverages will have a safari theme with Safari animals adorning the walls and an area where children can play while waiting to be served.
Gregor King, Bell Ingram’s commercial property Consultant based in Oban, commented:
“We are delighted to have assisted Hansteen with re-letting what is an iconic property in the heart of George Street. We had numerous enquiries, but Val and Paula were very quick to come forward with an attractive offer and a viable business plan. We wish them both luck with their new venture and hope that it is a great success.
“This is just the latest in a string of new lettings secured by Bell Ingram on behalf of clients in Oban town centre and is, we believe, a further sign of the improving commercial property market locally. We are currently instructed on the letting or sale of a number of retail and commercial opportunities in Oban and FortWilliam, with serious enquiries on a number of properties.”
Local solicitors DM Mackinnon acted on behalf of Palava Limited whilst Hansteen were represented by DLA Piper, Edinburgh.
Established in 1899, Bell Ingram is a multi-disciplined firm of chartered surveyors, forestry managers, estate agents, architects, building surveyors and energy specialists. With more than 130 professional staff across 11 UK offices the firm provides local knowledge with national coverage.
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