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Superbly Located Italian Restaurant in Lutterworth

Lutterworth, Leicestershire
Leasehold Price:
£125,000
Status
FOR SALE
Advert ID
194584
Reference
5652 / Rightbiz
    Established Since 1996

    Annual Turnover £130,000

    Rental Income From Accommodation £23,520 Per Annum

    4* Food Hygiene Rating

    New Lease Available

    EPC - C

Description:
REF 5652 – Leasehold Restaurant
Blacks Business Brokers are pleased to bring to the market this leasehold restaurant located in the much sought after area of Lutterworth, Leicestershire.

INTRODUCTION
Cheikho's Lutterworth Ltd has been trading on Church Street for since 1996 and during that time it has firmly established itself within the local community, gaining a large and loyal customer base and a superb reputation.

LOCATION
Lutterworth is a market town in Leicestershire. The town is located in Southern Leicestershire, close to Rugby and Leicester. The area is well linked with the A4303 and the M1. Church Street is a busy main road in the town centre, close to other businesses and shops. The area is popular with shoppers and visitors to the area in addition to having a good residential community. There is plenty of roadside parking available in addition to car parks close by.

REASON FOR SALE
Cheikho's Lutterworth is only being offered for sale due to our clients other business interests.

LEASE
The building will be available on a competitive rent on a Full Repair and insure lease (FRI lease). This is the most common form of commercial property lease. The lease will run at a cost of £769 per week, with the length open to negotiation with completion of the business sale.

BUILDING LAYOUT AND DESIGN
Cheikho's Lutterworth is housed within the ground floor of a large, three storey, double fronted unit on a busy shopping parade. The shop front is well presented, with impressive glazed frontage with branding on display.Inside, the large open plan restaurant is finished to a good standard, with tiled flooring throughout and a traditional feel with smart décor and wooden beam touches. The dining area offers between 50 and 60 seats, with bar and servery positioned at the rear of the space. The customer toilets and kitchen are in separate areas accessed by a hallway to the side. The professional kitchen is well equipped with cookery and cleaning facilities in place.

On the first and second floor is a very spacious, four bedroom accommodation. This has a separate entrance located at the rear of the property. The accommodation is made up of four bedrooms, fully fitted kitchen, living room and family bathroom – each room in the accommodation has is currently being rented by our client 2 rooms generate income of £380 each per month and the other 2 rooms generate £300 each per month, totaling in £1,960 per month income from the room rentals.

STAFF
Cheikho's Lutterworth is currently operating with two full time members of staff and one part time member of staff in employment.

FINANCIAL DETAILS
Financial details are available upon a viewing of the business and Cheikho's has traded solidly over its trading history. The business generates an annual turnover of £130,000. Potentially, a new owner could sub let the accommodation if preferred, bringing a further income of £16,200 per annum. Most customers are from the local area as one would expect, with some additional custom from passers by.

SUMMARY
This leasehold business offers a number of opportunities for a new owner. There is plenty of scope to develop the business further with the addition of an online presence and Sunday opening. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are welcomed by appointment only and are strongly advised.

Fixtures & Fittings:
1 x Wall Mounted Grill
6 Hob Gas Range With Double Oven
6 Pan Bain Marie
Air Extraction System
1 x Upright Fridge
2 x Microwave
1 x Double Pizza Oven
1 x Small Fridge
1 x Dishwasher
1 x Food Service Unit With Hot Lamps & Below Counter Cupboards
Coffee Machine
2 x Wine Chillers
1 x Fully Equipped Bar
1 x Professional Stainless Steel Prep Unit with 4 Below Counter Cupboards


Opening Hours:
Mon - Sat - 6.30am - 10.30pmSun - Closed


Weekly Rent:
£769 Per Week. Weekly Rent:
£769 Per Week.
Listing Details
Leasehold Price: £125,000
Tenure: Leasehold
Location: Lutterworth, Leicestershire
Sector: Restaurants
Financials
Annual Turnover: £130,000
Contact Agent
Telephone: Upgrade to view
Agent Name: Upgrade to view
Advert Reference: 5652 / Rightbiz
What's nearby
Within 1 milei:
T R S (Storage)
Lutterworth Ink (Store)
Lavender Bloom Interiors (General Contractor)
TJ's (Restaurant)
Lutterworth Town Estates Charity (Point Of Interest)
Kalista Hair and Beauty (Beauty Salon)
Howkins & Harrison Lutterworth (Real Estate Agency)
Kare Plus Rugby (Health)
The Shambles (Bar)
The Lutterworth Footcare & Podiatry Centre (Doctor)
Listing Statistics
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Find out more about the business by contacting the seller