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Vibrant Upmarket City Centre Restaurant Prime Location

Undisclosed, Leicestershire
  • Status

    FOR SALE

  • Date Submitted:

    15/01/20

  • Advert ID

    254584

  • Leasehold: £150,000
  • Turnover: £500,000
  • Net Profit: N/A

LOCATION.

The restaurant is situated on Friar Lane located in the affluent and vibrant area of Leicester where there is a lot of cultural and historical inheritance. It sits in the corner within a prominent and highly visible trading location just a stone’s throw away from the Richard III Memorial and Leicester Cathedral. Other operators in the area include Bistrot Pierre, Middletons Steak house, Mowgli and Gelato Village.

DESCRIPTION.

This is an excellent opportunity to own a prominent restaurant in a busy location. The restaurant has undergone considerable refurbishment and has been finished to a very high standard. The design of the building and the retention of many original features have had the premises nominated for a number of design awards and accolades.

We believe there is further potential to increase the trade by simply increasing wet sales, extensively marketing the business and extending the current trading times.

Currently seats 130, but easily extendable to 150 seats.

The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with plenty of passing trade due to its prominent location.

 

Details:

Ground Floor & Basement
Total – 3600 sq. Ft. All areas and dimensions are given are approximate.

TENURE.

Property is held on a leasehold. A 10-year lease commenced in 2015.

RENT.

£32,000 per annum.

PRICE.

£150,000 for the leasehold including the business, goodwill, fixture & fittings.

RATES.

According to the Valuation Office Non-domestic Rating list 2017, the following rateable values apply:-

RV – £9,000

SERVICES.

Interested parties are advised to make their own enquiries.

LEGAL COSTS.

Each party is to be responsible for their own legal costs.

Read more

  • Prime Location
  • Attractive Business
  • Close to Local Amenities
  • Open Plan Trading Area

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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

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Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Rest your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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