Cantonese Restaurant Freehold Premises With 6 Bedsits | | Undisclosed Gloucestershire | | Cantonese Restaurant - Freehold Premises with 6 Bedsits www.rubycantonese.co.uk Offered for sale Ref No: AC323 Location:Cheltenham, Gloucestershire Freehold Asking price: £950,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 57987
ADVERT IMPRESSIONS : 8,565 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | FREEHOLD: | £950000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This well known and extremely popular Cantonese restaurant has been trading under the same family ownership for twenty years. The restaurant has established itself as one of the best eating establishments in Cheltenham, attracting a regular and loyal clientele.
The restaurant offers the best of both worlds, there is a main dining area that is complimented by a second room that itself caters for forty covers, plus two more intimate alcoves for couples or small parties.
The glass fronted kitchen allows customers to watch the preparation of all of the dishes in the immaculate cooking area and to see the level of professionalism and experience that goes into each and every dish.
Premises:
The property is located in a well known area of Cheltenham and on the main London road leading out of the city.
The 3 storey premises consist of a cellar area currently used for storage.
The ground floor is occupied by the restaurant.
The first floor has two bedsits, one of which has two bedrooms plus there are two shower rooms and two toilets.
The second floor houses two one bed bedsits.
The third floor has two larger living areas, both of which have two bedrooms. These living quarters are generally occupied by the restaurant staff, however as they have a convenient separate access they could be rented out or converted into a large flat for the owners.
Equipment:
A full inventory will be provided as part of any due diligence process.
Advertising and Marketing:
The business occasionally commissions a leaflet drop to specific areas of the city and also advertises seasonal offers. The restaurant has developed its own loyalty card that has proved to be very popular and it is also a member of the exclusive “Best of Cheltenham” register.
Staff
The company employs four experienced full time chefs and four front of house staff. At the weekends this team is supported by three part time students.
Financial Information:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The restaurant enjoys a turnover of circa £500,000. This figure has been significantly greater in the past but the last financial year has been affected by a lengthy period of road closure right outside the premises. Volumes of business are now returning to previous levels. Gross profits are good at around £350,000 with net profits in the region of £80,000. All accounting information will be made available on request.
Reason for Sale:
The managing director has been involved in running the business for twenty years and would like to sell both restaurant and freehold to allow him to fund new catering ventures.
Support and Training:
There will be a full and professional handover of the business depending on the individual requirements of the purchaser. | | | | | | FOR SALE | | | | | REFERENCE: | AC323 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
