Freehold Restaurant & Tapas Bar Berkshire Plus Sav Price Reduced | | Caversham Berkshire | | Phoenix Business Agents are delighted to place onto the market this superb restaurant which has been established for over nine years. The owner now wishes to sell due to retirement. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 63951
ADVERT IMPRESSIONS : 5,276 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | ASKING PRICE: | £650000 | FREEHOLD: | £650000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | This thriving restaurant is ideally situated on Bridge Street, a main road in Caversham, which runs into Reading town centre, just 1 mile away. It occupies a prime trading position and is located alongside the river. It is situated within a thriving commercial area with many businesses and banks close by. Reading itself has had a tremendous amount of redevelopment investment and has become one of the most sought after towns in the country. There is a large university and many other facilities and amenities associated with a large city. The riverside development and the Oracle Shopping Centre are huge attractions in the area. The town is well linked to the M4, M3 and M25 motorways and the towns of Newbury and Oxford lie close by. Reading has a mainline railway to London
Business Details
Phoenix Business Transfer Agents are delighted to place onto the market this superb restaurant which has been established for over nine years. The owner now wishes to sell due to retirement.
This very good business opportunity provides a good living for the owner and his son who works with him.
The concern employs an additional two staff including a chef. The owner’s role is supervisory and he works full time.
No marketing of the business has been done in the past as the restaurant has an excellent reputation with the majority of business coming from a loyal customer base and recommendations. Currently, bookings have been taken for the next six months (including Valentines Day)
The particular highlights of the business are:
- It's location, next to the river and a popular nightclub and close to the local golf club and a number of Hotels.
- The business benefits from being the only Spanish restaurant in the town with no competition locally.
- After 6.00pm, parking has been made available by arrangement with a local business which is directly opposite the
restaurant.
The concern has huge potential. In particular the turnover and profits can be increased by:
- Opening 7 days a week (currently open 6) and increasing the opening hours.
- Providing a local delivery service
- Providing outside catering service based on the Spanish theme
- Transferring the details of the regular customers to data so as to provide a loyalty card scheme
- The provision of a website and advertising in the likes of the Yellow Pages, etc
The owner would be available for a business familiarisation period if required.
Property Details
The property is approximately xx square feet. It is of brick and slate construction and consists of:-
First Floor
On the first floor there are two, one bed roomed flats which are self contained and served by an entrance to the left of the restaurant.
Ground Floor
On the ground floor can be found the main restaurant (35+ covers) and bar area
Lower Ground Floor
Kitchen, Customer Toilets and storage area.
External
To the rear is a covered decking area which provides additional tables in the summer and in the winter is used as a smoking area.
Financial Details
2008 Potential
Turnover £125,000 £180,000
Gross Profit £ 47,000
Net Profit £ 30,000
Opening Hours
Tue - Sun 12.00pm - 2.30pm (Day) 6.00pm - 11.00pm (Eve) (Closed Mondays)
Tenure: Freehold (to include flats).
The owner would consider a leasehold option.
Price: £650,000 + SAV (Price Reduced)
Ref: 1224
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller. | | | | | | FOR SALE | | | | | REFERENCE: | 1224 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
