Business for Sale Overview:
This business was purchased two and a half years ago by the Vendor, whose family has been in the restaurant business for many years, with a generous combination of innovative insight and entrepreneurial spirit it has grown since to become a significant enterprise with a reputation for the quality of its menu, wine selection, environment and the successful combination of restaurant, bar and function room, catering to a variety of events and corporate functions.
The welcoming, comfortable and fully licensed, contemporary restaurant currently has seating for 60 covers on the ground floor including a fully stocked bar with draught beer. On the first floor is an additional restaurant / function room for up to 100 including its own bar, (again with beer on draught), desserts area and dumb waiter. The Restaurant benefits from a significant high street location set in an established dining area in this busy town center and a prominent frontage that comprises of a large glass window, while the interior has a distinct Mediterranean feel. Lots of free parking is available in the vicinity and in the car parks, in the evenings.
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:
Situated in the eating area on the High Street of this busy and vibrant town is the restaurant with a large glass, double fronted outlook, leading to a reception area and restaurant, currently set up for 60 covers and a fully stocked long bar on the left, including beer on draught. To the rear is a new, fully fitted commercial kitchen, including dumbwaiter, with a disabled toilet also at the rear. A door leads to the stairs.
On the first floor are the main ladies and gents toilets, fitted to a high standard, and entrance to the upstairs restaurant / function room, again fully fitted with its own fully stocked bar and draught beer, dessert area to the rear and a dumbwaiter. There is also a washing up area at the rear.
Below is a basement that, although being fully dry, is not currently used, as this spacious restaurant really has no need of the additional storage it offers at the moment. However it can be utilized whenever it’s required.
To the rear is a fully enclosed yard that includes a walk in freezer. The emergency fire stairs exit into the courtyard from the first floor and allows access to the side alley and then to the front or rear of the High Street.
There are two large car parks within short walking distance, all of which is free and unrestricted after 4.00pm in the afternoon and throughout the evening.
A new lease was granted for 20 years from the middle of 2007 at a rental of £26,000 per annum with 3 yearly rent reviews.
Market Competition and Expansion:
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation, combined with some local advertising.
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- The owner may be willing to train/assist the new owner.
- This may become a homebased business opportunity.
- This may become a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.