Chinese whispers could not cover up the giant sum paid for a Glenrothes restaurant.
The Wok ‘n’ Spice buffet restaurant has been sold to new owners for just under £1 million.
Anonymous purchasers have taken over the popular dining venue, located on a prime business site at Bankhead, part of the A92 corridor.
The purchase safeguards 14 jobs at the restaurant, but it is the size of the fee paid for the eatery – £940,000 – that has captured the local imagination.
“It’s a lot of money,” said local councillor Ian Sloan.
“To hear that there has been a buyer for the restaurant is good news.
“It has good access off the A92, which means there is plenty of passing trade, and it’s also good news for the people that work there.
“From what I understand there was always going to be a bigger development at Bankhead than materialised, but the restaurant is certainly popular so I’m delighted that there is a new owner.”
The restaurant incorporates a large car park, land that is located at one of Fife’s most desirable business addresses.
With the busy A92 just metres away, along with a petrol station and hotel, the number of potential customers is very large, factors which have clearly contributed to the high price tag.
However, the sale price of £940,000 is still significantly below the initial asking price of £1.2 million
The chair of Glenrothes area committee, councillor Altany Craik, has also welcomed the huge investment in the town.
He added: “It’s great to hear this local restaurant will continue to operate and we wish the new owners continued success.”
Confirming that the business would continue to trade as normal, Jonathan Reid, commercial partner at Shepherd Chartered Surveyors, said: “We are delighted to conclude this sale, after much interest in this property, to a buyer who will continue to operate the existing restaurant.”
Picture by George McLuskie