Freehold 88 Cover Restaurant With Spacious Owners Accommodation | | Undisclosed Norfolk | | NORFOLK COASTAL RESORT FREEHOLD 88 COVER RESTAURANT WITH SPACIOUS OWNERS ACCOMMODATION Prominent central location with with high levels of tourists & travellers On ltd hours - excellent reputation A/T: £181,000 GP: 71% + rental from holiday cottage 5 bed accommodation F/H: £1,395,500 +SAV REF: 1093PE | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 65034
ADVERT IMPRESSIONS : 13,537 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | FREEHOLD: | £1395000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION
Prominent and highly visible central position in delightful coastal resort
A very well known landmark with sea views and a position overlooking a green
Thriving area with considerable growth planned
Ideally positioned to attract townspeople, business travellers and tourists
HISTORY
Originally a Victorian rectory dating from 1864
Converted to a restaurant at around the time of the War
Owned within the family over 60 years
Loyal and repeat customer base drawn from the local community and visitors to the town
On going maintenance programme covering public areas and owners accommodation
Former cottage now converted to a holiday let
REASON FOR SALE
Retirement
SERVICES
A traditional seaside family restaurant offering a wide range of food and drink
o Traditional starters
o Main meals including fish and chip specials
o Salads
o Sunday roasts
o Childrens meals
o Sandwiches
o Sweets
o Cakes and pastries
o Non alcoholic beverages
Restaurant often caters for functions of all types, including, anniversaries and other social/businesses events
Focus on traditional English cuisine
CUSTOMERS
Holiday makers and daily visitors
Popular with townsfolk and locals
Restaurant attracts a loyal following at weekends
Traditional family market
Popular with senior citizens
SUPPLIERS
Consumables sourced from a wide variety of trade suppliers
STAFF
Managed on a day to day basis by the vendor and his wife
Staffing number vary over the season
TRADING HOURS
Weekdays 10.30am to 7pm during 9 months of the year
Weekends only during the winter months
FINANCIALS
Turnover
2009 £180,667
2008 £183,713
Gross profit margin overall is an excellent 71%
Rental income from the separate holiday let £500 per week during the summer season
OVERHEADS
Staff £33,476 pa
Rates £7,000 pa
Heat and light £4,414 pa
PREMISES
A traditional detached Victorian house, now a restaurant and owners accommodation comprising briefly:
88 cover restaurant
Additional forecourt seating of 30
Fully equipped commercial kitchen with fish and chip range
Ground floor preparation room
Storage room
Freezer
External store
External vegetable store
Walk in freezer
Spacious owners accommodation on 2 floors
o Lounge with wonderful sea views
o 3 double bedrooms
o Family bathroom
o Private kitchen
o 2 further double bedrooms on the second floor
2 bedroom cottage with private facilities
STRENGTHS
Located in the very heart of the town
Loyal repeat customer base of locals and visitors
Broad based income stream from restaurant sales, take-away sales and holiday let
Restaurant dιcor is traditional and tasteful
Loyal staff with very low turnover
On going development within the town is considerable
SCOPE
Excellent opportunity to sympathetically refurbish and upgrade the existing infrastructure.
Extend opening hours to evenings
Winter opening
Opportunity to focus closely on cost
Business development activities are extremely limited at present
Scope to increase food sales considerably throughout the hotel
TENURE
Freehold
Rates £7,000 per annum
DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967). | | | | | | FOR SALE | | | | | REFERENCE: | 1093PE / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
