Paul Reynolds (pictured centre) is selling his Glasgow Renfield Street hybrid bar and restaurant/tearoom concept Gin71/Cup together with his Gin Spa business in the city’s Virginia Court. He’s currently in talks to open a new venture in Glasgow’s financial district including plans to expand his spa business.
The sale is being handled jointly by Smith & Clough and the Scottish Business Agency.
Jonathan Clough, co-director of Smith & Clough, told DRAM, “We are delighted to have been instructed to handle the sale of this unique brand, incorporating an extremely well performing and well known hybrid bar & restaurant/tearoom concept in Gin71/Cup, as well as a highly profitable spa business which sits perfectly alongside the other parts of the business.
“The sale also includes a hand blended tea brand called Ambr which also offers huge growth potential. The units benefit from prime trading positions in both the City Centre and Merchant City areas of Glasgow. brand is well recognised, having previously traded in Edinburgh, as well within House of Frasers in Glasgow, and they are currently in talks to open a new venue within a new development in Glasgow’s Financial District, as well as expanding the spa business.
“It is felt there is huge potential to continue to grow the brand further, and is a proven concept that could be rolled out in cities throughout the UK should a new owner wish to go down this route.”