Superb Licensed Restaurant | | Lancaster Lancashire | | SUPERB LICENSED RESTAURANT - LANCASHIRE Centrally located in a vibrant Lancashire town Early viewing highly recommended | | ADVERT NUMBER : 61222
ADVERT IMPRESSIONS : 6,376 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | English Restaurants | | SALE: | Agent Sale | LEASEHOLD: | £30,000 | | | | | BUSINESS DETAILS: | SUPERB LICENSED RESTAURANT - LANCASHIRE
Centrally located in a vibrant Lancashire town
Early viewing highly recommended
Scope for longer opening hours
Low annual rent of £14,000
Annual turnover of £65,000
LEASEHOLD
Location
This fabulous restaurant is located on one of the main through roads in the centre of Lancaster. The business is surrounded by complimentary shops and establishments. Lancaster is the county town of Lancashire and sits on the River Lune. It has population of 133,914 and encompasses several outlaying towns, including neighbouring Morecambe. Long existing as a commercial, educational and cultural centre Lancaster was granted city status in 1937. The M6 motorway passes to the east of Lancaster, with junctions 33 and 34 to the South and North. The A6 passes through the city leading to Preston, Chorley and Manchester and Northwards towards Kendal.
Business History
Meridian Business Sales are delighted to offer to the market this well appointed licensed restaurant in the centre of Lancaster. The business has been in the careful hands of our client since 2008 and is only now being placed on to the market due to the owner having other business interests. The restaurant which is run and managed by our client has an advised annual turnover of £65,000. They are currently running the business at a pace to suit and there is massive scope for growth with the introduction of longer opening hours. The turnover is derived from the sale of traditional and modern English cuisine with beer and an impressive wine menu. The business has a wonderful reputation and benefits from excellent word of mouth recommendations and good reviews on 'Sugar Vine' and 'Trip Advisor'. The restaurant has always enjoyed good levels of repeat custom and due to its trading location sees high numbers of passing trade. Our clients are generously including all fixtures and fittings in the sale price which is a huge benefit to any new owners in that no additional funds are required. This is a superb opportunity to purchase a true turnkey business finished to the highest standards in a great location in the heart of Lancaster. Early viewing is highly recommended as businesses of this quality rarely stay on the market for long.
Financial Profile
Turnover: £65,000pa
Stock approximately: £2,000
Tenure
Leasehold
Original length: 3 years
Remaining: Rolling lease
Rent: £14,000pa (current rent)
New lease to be negotiated
Opening Hours
Monday: Closed
Tuesday: 6:30pm - 9:30pm
Wednesday: 6:30pm - 9:30pm
Thursday: 6:30pm - 9:30pm
Friday: 6:30pm - 10:00pm
Saturday: 6:30pm - 10:00pm
Sunday: Closed
Accommodation
Glass fronted property on a main street, briefly comprising;
GROUND FLOOR
Secure entrance leading to a welcoming, comfortable seating area with a well stocked bar. Adjacent to this is the main restaurant area with 24 covers, this area has plenty of character and has a feature fire surround and exposed brickwork, there are a further 14 covers in an additional seating area which lead through to the separate WC.
Located to the rear of the property is the fully fitted catering kitchen which is of a very high standard and includes. Large commercial oven and hob, microwave, fridge, freezer and all other fixtures and fittings.
Leading on from the kitchen is a small yard area with additional storage.
EXTERNAL
There is shared access to the rear of the property.
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