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01 August 2018 | Restaurants

Waterfront restaurant in Newhaven sold through Christie & Co

Former Italian restaurant, Sasso, situated on the waterfront in Newhaven, Edinburgh, has been sold through specialist business property adviser, Christie & Co to a Dumfries-based buyer.

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The recently refurbished property had previously been known and operated as The Peacock Inn, a popular local and tourist establishment, before being transformed into the authentic Italian restaurant. Its location on a busy roadside and waterfront setting gives the site a prominent position in the area.

With substantial capacity for up to a combined 120 covers within the lounge bar, main and private dining spaces, plus a further 20 covers provided outside in the courtyard, the venue is easily adaptable to a variety of food and drink concepts.

Previous owner, Mr Remo Margiotta, opened Sasso as a first time restaurant operator and ultimately decided to sell the leasehold in order to focus on his other business interests in property investment, moving away from the operational aspect.

Tony Spence, Business Agent at Christie & Co’s Edinburgh office who handled the sale, comments, "Mr Margiotta was looking to exit the industry due to other commitments, and remaining proactive from the outset, we generated maximum interest from potential buyers. A significant premium was raised for the business and we were able to achieve an all-round great deal for both parties."

Sasso was sold off an asking price of £80,000 for the leasehold going concern.