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Business for sale in United Kingdom - Ac258-long established portuguese restaurant and bar-north west london

Asking Price: 195,000 £ Real Estate: Lease
Sales Revenue: 500,000 £
Net Profit: 1 £
Year Established: 2000
Employees: 7FT, 1PT
# of family members employed: Not Disclosed
Location criteria:
United Kingdom/City of London/North West London

Business types:

Accommodation & Food services

Business categories:

Bars & Taverns ; Other Accommodation & Food Services ; Restaurants

Business description

this family-run traditional portuguese restaurant has been a favourite destination venue amongst those who love authentic, a family atmosphere, and the option to watch their favourite football team in a separate local bar environment for the past 10 years. Prior to the current owners, the restaurant was also trading for a further 6 years, with a specific focus on portuguese and mediterranean cuisine. The business was built on the basis of being the main fan base venue for a major portuguese international football team. Whilst this focus has taken a back seat in recent years, it still provides a very stable footing for regular returning clients, and recommendation in the community. The business also caters for the wider local community, and has had regular rave reviews in eating out guides for greater london. The licensed premises are well situated in an affluent area, and offer visitors a fine, relaxed and friendly atmosphere in which to dine, creating an marvellous ambience with its warm décor, welcoming and comfortable family feel, supplying all the right ingredients for a superb evening out. The restaurant has built itself an impeccable reputation for good service, fine wines and wholesome traditional portuguese cuisine, utilizing only fresh ingredients and cooked to order on site, creating genuinely excellent fare at reasonable pricing. Alongside the main food service area, which can easily cater for 80 guests, and accommodate parties for large events such as weddings and birthdays, there is a separate bar area which is accessible from the restaurant and via it own street entrance. This bar provides a friendly area with which to meet friends and enjoy drinks until the early hours. The restaurant has recently been refurbished through-out and has new signage at the front of the building. This business offers the purchaser a quality, proven opportunity in an absolutely superb location, making early viewing essential. Equipment: there are cash registers with credit card payment facilities. The kithcen is well equiped, with modern cooking facilities, gas hobs, and ovens. There is generous stainless steel food preperation areas. There is a couple large industrial firdges and freezers, with further cold storage and dry storage areas at the rear of the premises. Customer service: the business has built a huge reputation (mainly by word of mouth) for offering the best value for money with a friendly service and makes every effort to produce consistently high quality food serving only quality fresh ingredients. By its very nature, due to the business being managed by a close family, this emanates through-out the operation, and draws customers to a friendly family orientated service. Staff pay strict attention to cleanliness and hygiene and are always polite and friendly, which has led to repeat business and customer loyalty. Key strengths: obviously the reputation and trading history gained over the years is a major strength of the business, providing a consistent level of trade and grounding for the business. The location provides a high level of passing trade, and the size of the premises allows the restaurant to cater for events of all sizes, whilst also serving diners and regulars in the separate bar all at once. There is limited direct competition for a restaurant specialising in portuguese cuisine across london, with those that do cater for this sector, not in the same league in terms of size and quality. Growth and expansion opportunities: the business can easily be marketed to a wider community, and promoted further a field across london to draw higher numbers of diners. There is limited competition in the locality with a late license. At the moment the business draws later evening clients to the restaurant and bar, with little direct promotion of this valuable asset. There is currently no website. With a little direct investment in this area, there could be a great return for a low outlay. After over 10 years in operation, there is a great opportunity to offer a take away and delivery service to regular clients, and also focus on promotion to corporate clients, and offer outside catering services.

Additional information

Additional information: Not Disclosed
Support & training: The vendors are delighted to agree to a handover period for the successful continued operation of the restaurant.
Reasons for selling: The husband and wife vendors of the business are looking to retire, whilst their son can look to follow his passions in life away from the catering industry.
Financing available: Not Disclosed
Inventory / Stock value: Not Disclosed

Real Estate

Ownership: no
Lease: yes
Lease terms: Previously the rent was circa £36,000 per annum, with business rates of around £12,000 per annum.
Location: The Lease is currently being renewed and re-negotiated for a further 15 years. Previously the rent was circa £36,000 per annum, with business rates of around £12,000 per annum. The restaurant occupies approximately 123 sq m. There is a small management office near the front entrance. At the rear is a well fitted kitchen of about 32 sq m. With further outside storage. The is a separate bar area, with its own street entrance. This bar usually caters for late license trade, and occupies around 50 sq m, with seating for 25. The are interconnecting male and female toilets, which serve both the restaurant and bar areas.

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