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Stunning Authentic Italian Restaurant Prominent Town Centre location Suffolk

Undisclosed, Suffolk
Status
FOR SALE
Advert ID
253539
Reference
AC362 / Rightbiz
Leasehold Price: £110,000
Annual Turnover: £190,000
Annual Net Profit: £42,000

Stunning Authentic Italian Restaurant
Prominent Town Centre location
Ref. AC362
Location : Suffolk
Asking Price : £110,000 Inc. Assets

This business has operated as an authentic Southern Italian restaurant on this very prominent, high street location for 3 years and was purchased by the vendor with the intention of creating a vibrant, addition to this town in the heart of Suffolk, serving a delicious range of Southern Italian dishes which have received excellent reviews.

The Italian owner carried out a stunning refurbishment of the premises to transform the building into a delightful and unique restaurant.

Since refurbishment of this period building to a high spec kitchen and chic dining area décor, the restaurant has been busy since day one and has proved to be extremely popular with local residents who enjoy the atmosphere and high quality food on offer.

The menu is made up of traditional Italian dishes, including a very popular range of pizza, pasta, meat and fish dishes with a varied selection of starters and side dishes. The restaurant is fully licensed.

The owner has produced a truly amazing drinks menu with a phenomenal range of handcrafted gins, as well as other spirits, wines and beers.

The business does not rely upon seasonal custom but rather, takes advantage of this discrete town’s busy commercial and residential population, which has led to consistent non-seasonal trading.

Due to its desirable setting the restaurant enjoys high levels of awareness and footfall. The unique atmosphere results in high levels of repeat business and strong word of mouth recommendation, bearing testimony to the excellent reputation its dining experience throughout the area.

The premises has 38 covers indoors situated on the ground floor. The kitchen is fully fitted with a pizza oven. There is a suitable storage area, prep room, and dry store. Rent is approximately £19,800 per annum.

There is currently 1 full-time chef, 2 front of house, together with a part-time dish-washer during busier periods.

Key Strengths:

• Location
• Well known in the area with excellent reviews
• Popular menu
• Modern high spec kitchen facilities
• 10 years left on lease
• Friendly and amenable landlord
• Profitable
• Great expansion opportunities

Key Opportunities:

This is very much a “more of the same” opportunity at its heart, though the opportunity remains to open the restaurant on the remaining days of the week, holiday periods and to introduce an outside catering offering.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Turnover circa £190,000 (2019 estimate based on 11 months actuals)
Net profit circa £42,000
Stock & Equipment Asset Value circa £50,000

The Asking Price is for 100% of the ownership of the company based on Net Assets being circa £50,000. There will be a £ for £ adjustment to the asking price to reflect any rise or fall in this net asset position as at completion.

Advertising and Marketing:

The business has an attractive website and relies very successfully upon word of mouth recommendation, social media following and its loyal customer base. Online booking is available.

Premises:

The premises are a sensitively refurbished period building in a market town of similar architecture and situated among other busy and prosperous businesses.

The premises has 38 covers indoors and potential to expand this with a further 20 covers in the basement. There is also potential to expand the property to the rear to create further covers or an alfresco dining experience. The kitchen is fully fitted with a pizza oven. There is a suitable storage area, prep room, and dry store. Rent & rates (100% relief) are approx. £12,000 per annum.

The restaurant is located in the heart of a residential and commercial area of Suffolk and is ideally placed on a busy high street with plenty of parking available. The premises are leasehold with 10 years remaining. The restaurant is currently on the ground floor and includes a very well stocked bar with seating at the front of the premises. The kitchen is extremely well fitted.

Business Hours:

The restaurant is open from Tuesday to Saturday evening with a lunch service on Friday and Saturday only. There is an opportunity to expand the weekday lunchtime offering.

Support and Training:

The vendor is happy to support the new owner to ensure a smooth handover.

Reason For Sale:

The owner is moving back to Italy to pursue other business interests.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk

Listing Details
Location: Undisclosed, Suffolk
Sector: Italian Restaurants, Pizza Delivery Businesses, Bars
Key Features
  • Town Centre location
  • Company for Sale
  • Established Business
  • Attractive Business
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Advert Reference: AC362 / Rightbiz

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