Business for Sale Overview:
This excellent Indian Bar & Restaurant was originally established in 1995. Acquired by the current owners in 2003, the business has developed superbly: it is now generally recognized as the location of choice from all sections of the community, an affluent area of North West London. Benefitting from high housing density locally and with very limited local competition, the Bar & Restaurant are open seven days per week. The premises hold a full A3 restaurant and public entertainment licence, as well as the necessary Food Safety Certificates. Live Indian music is enjoyed most nights, with DJs featured on other nights. The business attracts an eclectic mix of clientele from retired people enjoying an early pint, lunchtime clients, business and trades people having a quick drink on the way home and families and groups in the evening. The introduction of the smoking ban in 2007 has improved the number of families now using the establishment.
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Property Features and Assets:
The premises consist of circa 800 square feet of bar and restaurant with additionally kitchen, cellar and storage facilities. The current lease has fifteen years to run with the next rent review occurring in 2010, and every four years thereafter. Current passing rent is £22,500 per annum: business rates are circa £1,500 per annum. There is additionally an upstairs apartment consisting of two bedrooms, kitchen/diner, lounge and bathroom. This can be rented from the same landlord subject to separate negotiation.
Market Competition and Expansion:
Little formal advertising is currently undertaken since most trade is generated through ‘word of mouth’ recommendation. Every year, in support of charities both in the UK and abroad, a number of charity events are held. Typically the owners provide free food and tickets are then sold, the proceeds of which, are received by the relevant charity. This has had the effect of not only providing funds for very worthwhile causes, but increasing the profile of the business. The Bar & Restaurant has now reached the stage, however, where the development and execution of a strategic marketing plan, addressing all media activities would be worthwhile. This would include the development of a website.
Reason for Selling:
This is a genuine retirement sale.
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.