Restaurant & Banqueting Suite West Midlands £750,000 Or L/h £225,000 | | Undisclosed West Midlands | | WEST MIDLANDS F/H RESTAURANT & BANQUETING SUITE W/T: £5,000 GP: 70% £400,000 REFURBISMENT 80 SEATER PLUS 150 PERSON BANQUETING SUITE 4 BED LIVING ACCOMMO ON 2ND FLOOR F/H: £750,000 + SAV OR L/H: 225,000 + SAV, REF: 9105WV MUST BE VIEWED | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 24369
ADVERT IMPRESSIONS : 27,540 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | FREEHOLD: | £750000 | LEASEHOLD: | £225000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION
Our client is conveniently located on a busy main road in Bilston town centre in the West Midlands. Local nearby business include a number of high street retailers, as well as independents retailers and a number of offices in the area all contribute in attracting a high level of footfall in a thriving town.
The town is currently undergoing a major expansion programme with the population planned to increase considerably in the next few years.
There are a number of free of charge car parks surrounding the business. The area has road links with the A41 less than 50 yards away, the business black country routes less than a mile away and the busy M5 and M6 within close proximity.
THE BUSINESS
Advent Business Sales are pleased to offer for sale this well established restaurant and banqueting suite with excellent future potential.
This spacious premises was purchased by the current vendors in 2002, which was formerly a furniture store.
The restaurant officially opened for trading in December 2003 and has trading successfully to the current date.
The business has reluctantly been offered for sale due to the vendors personal commitments.
Since acquiring, the premises have experienced a total renovation project, which has included a large seated restaurant area and a first floor banqueting suite. An expense in the region of £400,000 has been spent to date to enable this venue to compete amongst the best in the industry.
At present, the business runs on the lines of an Indian restaurant, offering quality sub continental cuisine. The restaurant has a capacity of seating 80 comfortably with a central bar area.
The function room has facility to cater for up to 150 people. A private bar area and a movable stage offer excellent facilities.
Our client has been awarded several accreditations from critics, which has enabled longevity of business.
The premises are truly one of West Midlands finest venues and is highly popular for wedding and pre wedding parties, birthdays, anniversaries and corporate events.
In addition to the vendors, a brother a sister team, four full time and a bank of part time staff are employed.
The business is offered for sale on a leasehold basis with an option to purchase the freehold.
The premises need to be viewed to appreciate the magnitude of the venue. In addition, there is a further 4 rooms, which accommodate a modern and spacious living area.
REF: 9105WV
TRADING HOURS
Mon: closed
Tues Sun: 6pm mid night
EXPANSION POTENTIAL
The business has huge potential to increase both sales and profits vastly by:
1. Increased advertising incorporating further West Midland areas
2. extending opening hours ie; afternoons for corporate lunches, currently closed Mondays
3. Introducing further themed events
4. the business would ideally suit an individual or a partnership with experience in banqueting and function delivery
FINANCIAL INFORMATION
We have been advised by the vendor of the following:
Weekly sales: £5000
Gross Profit: 70%
Accounts will be made available to interested parties after a viewing has taken place.
Please let us know if you require finance for the purchase of a business.
BUSINESS PREMISES
A very well presented double fronted restaurant with a prime town centre location with the added security of CCTV and alarm system, comprising of:
Ground Floor
Double fronted restaurant leading into foyer area
Reception and waiting area with comfortable leather sofas
Large central bar area
80 seater restaurant
Excellent music and media entertainment centre
Rear areas include fully equipped commercial kitchen
Ladies, gents and disable toilets
Storage areas
Cellar
Access to first floor
Rear fire door access
First Floor
Banqueting suite with capacity for 150 people
Private bar area
Ladies gents and disabled toilets
Ample storage and preparation facilities
Stairs to upper floor
Second Floor
Large 4 bed living accommodation:
Lounge, bathroom, kitchen and 4 bedrooms
Separate access
External
Paved to shop front
TENURE: Leasehold with freehold option
Original lease: TBN
Remaining lease: TBN
Review every: TBN
Rent: TBN
We are advised that the annual business rates are currently: TBC | | | | | | FOR SALE | | | | | REFERENCE: | 9105WV / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
