Colchester Square, Lochgilphead, PA31

Situated in the picturesque town of Lochgilphead, Argyll and Bute, The Square Peg presents a rare opportunity to acquire a well-established and diverse retail business. This landmark property, nestled on Colchester Square, has been a beloved fixture of the community for over 35 years, serving as both a local hub and a destination for visitors.

Property Overview

The Square Peg comprises a substantial commercial property spanning the western side of Colchester Square. The main business occupies a spacious ground floor unit, complemented by first-floor storage and office space. The ground floor showcases several distinct areas, including a high-end gift shop, a popular sandwich bar, and a charming card, gift, and toy shop. A former dance hall, now repurposed for storage, adds to the property's versatility. The first floor houses three office and storage rooms, providing ample space for business operations.

Adjacent to the main business, a smaller commercial unit, No. 17, currently operates as a discount shop on Saturdays. The property also includes a two-bedroom residential flat on the first floor of No. 3, previously utilised for self-catering accommodation. This flat features a spacious lounge, bathroom, and kitchen, offering potential for owner occupation or continued rental use.

Business Operations

The Square Peg's diverse retail offerings cater to a wide range of customers. The bustling sandwich bar prepares fresh, organic takeaway options, including hot and cold rolls, snacks, and homemade baked goods. Two gift shops, No. 5 and No. 11, offer an impressive array of fine jewellery, pottery, glass, beauty products, furniture, toys, and greetings cards. Many items are hand-crafted in Scotland, alongside premium design-led products from across the UK.

The business has adapted to modern retail trends with an online presence, with web sales accounting for 10% of turnover. The current owner, who acquired the business in 2006, manages a team of five full-time staff members and several part-time employees, ensuring consistent high-quality service across all operations.

Recent Improvements

The entire property has recently undergone extensive exterior renovations, including partial roof re-slating, lead work replacement, chimney stack rebuilding with lime harling, and the installation of new gutters and downpipes. These comprehensive works, valued at £330,000, have significantly enhanced the building's condition and longevity, making it an even more attractive investment opportunity.

Location and Amenities

Lochgilphead, with its combined population of around 3,500 including nearby Ardrishaig, serves as the administrative centre for Argyll and Bute Council. The town boasts excellent local amenities, including a variety of shops, restaurants, and pubs along its vibrant high street. Families benefit from proximity to Lochgilphead Primary School, Lochgilphead High School, and a campus of Argyll College.

The area's outstanding natural beauty and historical significance make it a popular destination for tourists and an attractive place to live. Outdoor enthusiasts can enjoy cycling routes, fishing, kayaking, wild swimming, and exploring the many coastal and woodland walks. Cultural attractions include the Crinan Canal and Kilmartin Glen & Museum, showcasing the region's rich archaeological heritage.

With its prime location, diverse business model, and recent improvements, The Square Peg represents an exceptional opportunity for investors looking to acquire a thriving retail establishment in one of Scotland's most picturesque locations.