High Turnover Italian Restaurant | | Undisclosed Essex | | - ADVISED AVERAGE GROSS WEEKLY TURNOVER £17,000 - ESTABLISHED BUSINESS FOR OVER 17 YEARS - PP TO DEVELOP 1ST FLOOR INTO FUNCTION ROOM / BAR - EVERYTHING INSIDE REFURBISHED, NEW AND INCLUDED - HIGHLY PROFITABLE & RARE TURNKEY DISPOSAL - ATTRACTIVE RENEWABLE LEASE TO ASSIGN - HUGE POTENTIAL TO INCREASE TURNOVER – RETIREMENT SALE | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 68750
ADVERT IMPRESSIONS : 15,778 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | LEASEHOLD: | £199,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION
The business is situated on a main road in a prominent town centre location.
DESCRIPTION
The premises is situated in a two story end of terrace commercial unit. Over the past 12 months our clients have fully refurbished the restaurant throughout, including the extensive ancillary areas on the ground and first floors. The quality of the refurbishment and equipment installed is of the highest standards.
THE BUSINESS
The business was first established by our clients in 1994 and has built a superb for delivering quality Italian food and hosting memorable parties and functions. We have been advised the average weekly turnover in the festive weeks alone is circa £50,000.
Our clients have recently secured full planning permission to extend the trading area of the business to the first floor which will generate approximately an additional 650 sq/ft (60 sq/m). There is a variety of ways this space could be used, such as: Private Function Room, Wine/Cocktail Bar or Additional Restaurant Covers.
Even through the recent economic downturn the business has continued to trade well due to the high booking demand for functions and events. The business is only being sold as our clients have now decided to retire. There is therefore a fantastic opportunity for an existing operator to acquire a thriving and highly profitable business which needs little or no investment for the foreseeable future. In addition they will be acquiring a business which still has huge potential to expand further, particularly with the first floor trading area still yet to be utilised.
EXTERNAL
The premises fronts onto a busy main road and has been equipped with a decking area which can be covered.
To the rear of the premises there is access for deliveries.
TRADING INFORMATION
We have been advised by our clients that the average weekly turnover of the business across a 12 month period is £17,000. Further information will be available after a formal viewing has been conducted.
TENURE DETAILS
The premises is held on a renewable lease with an annual rent passing of £35,000. Further details of the lease will be available after a formal viewing has been conducted. | | | | | | FOR SALE | | | | | REFERENCE: | BMA589 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
