| (REF: 2445) Long Established and Lucrative Leasehold Greek Restaurant |
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| Seller Reference: |
2445 |
| B4S Reference: |
32221 |
| Asking Price: |
£139,950
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| Net Profit: |
£50,000 |
| Sales Revenue: |
£190,000 |
| Number of Staff: |
5 |
| Established For: |
8 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Derby, Derbyshire, United Kingdom |
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The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £180,000 pa with a net profit of £50,000 (see financial summary below).
- A business with great potential which has not been exploited because the owner is ready to retire and the business has been running at half its potential for some time.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team
- Low rent and rates.
- Very low overheads.
- A niche concern with no competition.
- Business enjoys superb local reputation
- The concern provides traditional Greek cuisine.
Services
This very good business opportunity provides traditional Greek cuisine.
Staffing
The concern employs 4 part-time and 1 full-time members of staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
There is no local competition.
Market
The client base consists of local residents and is also popular with business customers and tourists.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include a lunch time service and Sunday opening.
• Increasing the services to include outside catering and takeaway.
• There is a great opportunity to increase the turnover by promoting the greatly under used function room on the first floor.
• With the introduction of a website and e-commerce..
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
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Property: |
Leasehold |
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Lease Terms: |
The original length of the lease was 20 years with 14 years remaining. The rent is £24,000 pa with a review in 2015. The lease may be renewable or negotiable for longer term if required. The rates are £5,000.
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Current Rent: |
The rent is £24,000 pa |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
First Floor
On the first floor there is a function room with its own bar/service area. There is also a self contained 1 bedroom flat currently being let out and is generating £2,400 pa in income.
Second Floor
On the second floor is a self contained 1 double bedroom flat currently being let out and is generating £4,560 pa.
Third Floor
On the third floor there is a self contained 1 double bedroom flat currently being let out and is generating £6,600 pa.
Equipment with Sale
All fixtures, fittings and equipment are included in the sale price and are valued at £5,000.
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Location: |
- Situated in the London Road area of the city centre in Derby.
- Prominent location on main arterial road.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A601, A6, A514, A52 and M1.
- Nottingham, Burton-on-Trent and Loughborough all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area
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There is no local competition. |
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The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include a lunch time service and Sunday opening.
• Increasing the services to include outside catering and takeaway.
• There is a great opportunity to increase the turnover by promoting the greatly under used function room on the first floor.
• With the introduction of a website and e-commerce..
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The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made |
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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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Monday to Thursday: 6.00pm - 9.30pm.
Friday to Saturday: 6.00pm – 11.30pm
Sunday: Closed
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The concern employs 4 part-time and 1 full-time members of staff |
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