Business Overview:
Both of these very well known and respected restaurants have been providing its customers with a fine Italian dining experience for many years now. The first restaurant was set up by the vendor over 30 years ago and has been such a success that he opened a further restaurant some 13 years ago. Both restaurants provide a superb range of high quality Italian foods, yet the vendor has created two different styles for each restaurant with differing names, décor, atmosphere and different target markets. In saying that the business tends to have many loyal customers who will use both restaurants such is their inherent quality.
The locations of both restaurants are absolutely superb, both being in a very high profile part of the city close to the major hotels, arenas, theatres, halls and opera house, not to mention large corporate companies, tourist attractions and retail outlets. Because of this the business has enjoyed very consistent levels of business and profitability over the years with a diverse yet regular customer base.
Each restaurant can cater for circa 70 covers at any one time(more for functions) and also have separate bar areas. Both restaurants are run under management so the vendor has no need to be involved within the business on a day to day basis. Each site has both a full time manager and assistant manager. The staff are highly experienced and friendly and both restaurants have excellent chefs.
The vendor has just recently refurbished one of the restaurants at a cost of circa £200,000. Both restaurants are superbly presented with high quality fixtures and fittings to ensure a wonderful dining experience time and time again.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Both restaurants are leasehold. One 25 year lease expires in 2015 and is renewable. The other 20 year lease was taken out in 2002 and has the option to extend for another 10 years if so required. The vendor has an excellent relationship with the landlords and it is understood both leases can be extended.
Further details can be provided upon completion of the Turner Butler Confidentiality Agreement.
Market Competition and Expansion:
Due to its desirable locations and superb reputations the business enjoys high levels of awareness and footfall. A high proportion of both restaurants’ revenue is due to its quality food and unique atmosphere resulting in high levels of repeat business and strong word of mouth recommendation, bearing testimony to the excellent reputation it enjoys throughout the area. It does also have a website.
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Resources: