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Friday 21st of Jul 2017 - My Account - Register - Brokers - Bookmark RightBiz
Freehold:
£435,000

Prime Location Restaurant With Owner's Accommodation Premium Advert

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Reference13865 H / RightBiz
Status
FOR SALE
Advert ID196533
LocationWeston super Mare, Somerset
SectorRestaurants
Freehold Price£435,000
Annual Turnover£153,994
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LOCATION
Chris's Restaurant is located in a busy part of Weston Super Mare, close to the both the seafront and town centre, within the county of Somerset.

Situated in a busy part of town within an ongoing redevelopment and regeneration area, there are plenty of complimentary style businesses to the surrounds, with ample on street parking. A visible corner plot with vibrant signage at the juncture of two main thoroughfares between the town centre and the seafront.

Weston Super Mare is an extremely popular and busy seaside resort on the coast of North Somerset, circa 24 miles south of Bristol, and 29 miles north of the county town Taunton.

Sitting on the Bristol Channel, the town has a local population approaching 78,000 people with lots of modern built densely populated residential areas, plus an enormous annual tourist trade. The annual Air festival and military week attracts around 140,000 people to the town outside of the normal tourist attractions that include the famous Grand Pier, Brean Sands, and the renowned night life.


BUSINESS
Hilton Smythe welcomes to the market Chris's Restaurant, For Sale due only to our client's wish for a well earned retirement after more than 50 years in this family business.

A traditional home cooked family restaurant with circa 130 covers in its current configuration, offering a popular and freshly prepared menu of fish, grilled meats, chef's specials of Greek origin like 'Kleftiko', roast dinners, light bites and salads, all prepared with local produce. Celebrating over 50 years, the business has become locally renowned and offers a wide range of imaginative menus including children's menu and comprehensive wine list, plus drinks from a very well stocked bar. Coffees, teas, cakes, Toasted T-Cakes, and biscuits, are also a popular light offering,

Benefitting from a vibrant and engaging website www.chrissrestaurant.co.uk, there is a good local and online presence via social media, with good feedback and reviews via Facebook and Tripadvisor. Reliant not only on its regular local and repeat clientele, there is also a large tourist trade which the restaurant seems to benefit well from. Founded in 1962, the business has been in the family ever since and has always been popular throughout the town.

Although consistently busy, with excellent historic financials, there is always scope and growth organically, with the business suited to a small family unit, hands on husband wife team or chef and partner. With all the redevelopment going on in the immediate area, complete alternate use or potential for a corporate operator is also a consideration.

PREMISES & EQUIPMENT

Covering units 12-16, a substantial 2 storey rendered building, standing in a prominent corner plot, with window elevations to all sides. 2 entry/exit doors access a traditional looking, well presented, and well maintained premises circa 130 covers, and around 138 sqm's of useable trade space.

Briefly comprising, a good selection of loose dining furniture, timber bar and servery, half-timber panelled walls, with a traditional look, feel, décor and ambience throughout.

An extremely well equipped, no expense spared stainless steel trade kitchen with extraction. All equipment is modern and regularly replaced on demand. There are plentiful staffing and ancillary areas, wash-up, dry stores and further storage.

The ladies and gents WC facilities are to the first floor.

FIRST FLOOR
A substantial first floor space, with excellent mixed or alternate use possibilities. The family's former accommodation (currently unused) Self-contained comprising, 4 bedrooms, living room, kitchenette, and bathroom, plus ancillary space. Both floors span the entire corner plot.

TENURE
We are advised the business is being sold as a Freehold business opportunity, with a potential Leasehold option available by negotiation, and subject to status.
According to the VOA website, the current rateable value is £18,750


HOURS
The business opening hours:
Open all year round, with changeable later hours to suit the summer season, the business only closes on Christmas Day & Boxing Day

Monday: 10:30 to 18:00
Tuesday: 10:30 to 18:00
Wednesday: 10:30 to 18:00
Thursday: 10:30 to 18:00
Friday: 10:30 to 18:00
Saturday: 10:30 to 18:00
Sunday: 10:30 to 18:00

STAFF
The business is run by a hands on small family unit.

FINANCIAL PROFILE
We are advised that the turnover for the year ended 2017 is £153,994 with a gross profit of £116,522 and a bottom line net profit of £57,859 before any reconstitution.


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