| (REF: R3044) Spacious Well Established Quality Licensed Restaurant |
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| Seller Reference: |
R3044 |
| B4S Reference: |
31487 |
| Asking Price: |
£180,000
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
£728,000 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Leasehold |
| Location: |
Nottinghamshire, the East Midlands, United Kingdom |
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Nationwide are pleased to offer to the market : This quality Licensed Restaurant caters for modern English cuisine and has been in the same hands since 1994 and there are genuine reasons for sale. We understand the Restaurant has a Full On Licence.
Large rear paved courtyard with views of the River Trent. Tables and chairs providing seating for approximately 60 persons
ENTRANCE TO SPACIOUS RESTAURANT in the region of 1,536 sq. ft. with woodstrip floor, wall and ceiling lighting. 2 open fireplaces. Tables and chairs providing seating for 80 persons (can be increased). Attractive wooden bar, 1 hand pump, mirror-backed shelving, 4 single door glass fronted counter fridges, electronic cash register,
KITCHEN with tiled floor mainly stainless steel equipment including 6-burner gas cooker with oven, solid top gas cooker etc.
ADJOINING WASH-UP AREA with double sink, dishwasher
Customers cloakroom with w.c. and wash hand basin
In addition there is a staff cloakroom
First floor 841 sq. ft. ladies and gentlemens cloakrooms each with w.c. and wash hand basin
Large room with woodstrip floor at present used as gallery, however, could readily be used as a private dining area or as private living accommodation.
Second large room with wood strip floor (ideal as an additional dining area or indeed as private living accommodation).
Laundry room
Cloakroom area for customers coats
Large cellar (515 sq. ft approx) for storage purposes with chest deep freeze
WE ARE INFORMED the turnover averages £14,000/£15,000 p.w. in our opinion offering tremendous potential for further development in the right hands Gross profit 64% approx. We are further advised that the draft trading and profit and loss accounts for year ending 31st January, 2011 showed £615,754 with a gross profit of £418,288.
The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 16 years full repairing and insuring lease at a rental of £34,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years. (The vendor is quite prepared to discuss a longer or shorter lease, if required).
Rates and Water Rates currently £5,873 p.a.
AS STATED THE RESTAURANT HAS BEEN IN THE SAME HANDS SINCE 1994 AND THERE ARE GENUINE REASONS FOR SALE.
OUTSTANDING OPPORTUNITY TO ACQUIRE A QUALITY SPACIOUS LICENSED RESTAURANT IN THIS SOUGHT AFTER TRADING POSITION.
PESONALLY INSPECTED AND HIGHLY RECOMMENDED
MUST BE SEEN TO BE FULLY APPRECIATED
TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES, FITTINGS & FURNISHINGS £180,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
OR COMPLETE WITH THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES, FITTINGS & FURNISHINGS £595,000 plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT
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Property: |
Leasehold |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
The second floor approximately 920 sq. ft. comprises:
3 Large Rooms plus an additional room (ideal to be converted into a bathroom) plus small office.
It will be appreciated upon inspection that the 2 rooms on the first floor combined with the second floor accommodation could readily be utilized as private living accommodation, if desired.
Attractive large rear paved courtyard with view of the River Trent. Tables and chairs providing seating for 60 persons. |
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Location: |
Excellent main road trading position with view of the River Trent, NOTTINGHAMSHIRE |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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Sunday - Thursday inclusive - 12 noon - 3 p.m. & 6.30 p.m. - 9.30 p.m. (last orders)
Friday & Saturday - 12 noon - 3 p.m. & 6.30 p.m. - 10 p.m. (last orders) |
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At present operated under management. Staff employed 1 full time manager, 4 full time chefs, 1 kitchen porter plus 1 kitchen assistant. Restaurant area 1 manageress, 4 full time waitresses plus additional part time staff when required. Wages paid £4,500 p.w. It will be appreciated upon inspection that with an active husband and wife team, the wage bill could be reduced. |
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