Business for Sale Overview:
This business was established in 1993 by the Vendors and 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 decor and ambiance. As well as establishing itself for its food and menu the restaurant is the longest established Italian restaurant in the town and in the area.
The welcoming, comfortable and contemporary restaurant for 60 covers benefits from a prime and significant high street location and a prominent frontage that comprises of a large glass window, while the interior has a distinct Mediterranean feel. Free parking is available in the vicinity 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 a prime and significant location on the High Street in the middle of this lively and entertaining Town the business benefits from glass fronted premises with a reception vestibule leading to the 60 cover restaurant with licensed bar to the rear and ladies and gents toilets. Behind this is the fully equipped commercial kitchen with storage and rear exit.
The premise has a renewable 25 year lease expiring in 2027 with rent reviews on a 5 yearly basis. Current rent is £24,000 per annum, with rates payable of £6,700 per annum.
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, as well as its prime location.
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.