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Business for sale in United Kingdom - Ac243-well established 150 cover italian restaurant-north yorkshire coast
| Asking Price: | 220,000 £ |  |
Real Estate: | Lease |
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| Sales Revenue: | 519,000 £ | ||||||||||
| Net Profit: | 1 £ | ||||||||||
| Year Established: | 1937 | ||||||||||
| Employees: | Not Disclosed | ||||||||||
| # of family members employed: | Not Disclosed | ||||||||||
| Location criteria: |
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Business types:
Business categories:
Business description
a rare opportunity has arisen to acquire a well known and established italian restaurant on the north yorkshire coast. This has been a popular eating house for over seventy years with the current owners carrying on the long tradition of serving good authentic italian food to their regular customers. They have won a number of local and regional restaurant awards, with the most recent being the “best restaurant” in north yorkshire in 2008.
the restaurant has circa 150 covers and is open every day from 4.00pm until late. It is tastefully decorated with an italian street theme and caters for both families and couples who enjoy a wide menu of pastas, pizzas, steaks, fish, seafood, vegetarian meals with a daily specials board all at competitive prices. There is a good selection of both draught and bottle beers plus a comprehensive wine list available.
there is a fully functional and commercial kitchen which has a wide range of equipment and appliances. The kitchen area is continually upgraded to the highest standard and was recently awarded a five star rating for its all round hygiene by the local council. The owners have recently installed a new air conditioning system for the building and no expense has been spared on the decoration and ambiance of this successful restaurant.
the restaurant has an enviable town centre location in a busy seaside resort on the north yorkshire coast. It benefits all year round from a busy tourist trade and in winter from its loyal regular customers.
the restaurant is run by a fully managed team of three who report directly to the owners. There are a number of obvious opportunities within this business for new owners to grow both the turnover and the profits of what is already a highly successful restaurant
equipment:
all of the fixtures, fittings and kitchen equipment necessary in the running of a 150 cover italian restaurant are included in the sale of the business. A full inventory of equipment is available to any genuinely interested parties.
customer service:
the restaurant has built up over the years a loyal and regular all year round clientele. They have a well run website and have leaflets in most hotel rooms around town and surrounding villages.
there is a special function room upstairs in the restaurant which caters for parties all year round, especially at christmas, with a high number of office parties and corporate events.
key strengths:
built on well established foundations and a fantastic and prominent location it is the quality of the authentic italian food and the friendly service that are the cornerstones of this business. The themed restaurant is tastefully decorated giving a warm and friendly welcome to their customers.
whilst turnover reaches a peak during the busy summer months, this is an all year round business with regular repeat local customers.
key opportunities
this is an outstanding opportunity to build on the effort and investment that has been put into making this restaurant one of the best known and loved eating houses on the north yorkshire coast.
there are a number of other obvious opportunities including opening at lunchtimes and later evening opening. Due to other operational commitments the current owners have not yet chosen to explore these particular areas.
Additional information
| Additional information: | Not Disclosed |
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| Support & training: | The owners would be happy to help with a smooth transfer of the restaurant in any way possible. |
| Reasons for selling: | The owners wish to concentrate on their other business interests. |
| Financing available: | Not Disclosed |
| Inventory / Stock value: | Not Disclosed |
Real Estate
| Ownership: | no |
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| Lease: | yes |
| Lease terms: | The annual rent for the whole premises is circa £36,500 with a 20 year lease available with 5 yearly reviews. Rates are circa £14,500 per annum. |
| Location: | This is a four storey double unit with an attractive frontage and facia signs. On the ground floor is a reception area leading to the bar area and the main restaurant which provides 75 covers. The restaurant is tastefully decorated with an Italian street feel and charm giving a warm welcoming feeling. There are ancillary areas with a pizza kitchen and pizza oven to the rear of the restaurant, which is partially open to customers view, cellar rooms with both internal and external access for deliveries, and the main kitchen area which is well equipped with a separate preparation room, working areas and two storerooms with a rear exit to the yard. The rear seating area is on a Mezzanine floor, which overlooks the main restaurant and has seating for a further 75 covers and its own separate fully equipped bar which enable the room to be hired out for private functions. There is a separate preparation room and landing with a second staircase to the second floor. The main toilets are situated on this floor. The second floor houses two offices with staff facilities including changing rooms and toilets plus a meeting room. The third floor has three rooms and a bathroom/w.c. and the Fourth floor has two further store rooms. The annual rent for the whole premises is circa £36,500 with a 20 year lease available with 5 yearly reviews. Rates are circa £14,500 per annum. |
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