FOR SALE
05/11/20
268643
KBT47796 / Rightbiz
Description
Spice Bros is a popular and well respected Indian restaurant business located in Brighton just on the outskirts of the main town centre and within a densely populated residential area which also benefits from a number of other independent retailers and national chains.
The area in general is busy throughout the day with passing footfall, although approx. 70% of the income generated each week comes from regular and growing custom who use the take away service in the evenings and at weekends.
The business was originally established by our client with the doors being opened in November 2018 and provides, what is now a well renowned restaurant within the town with approx. 54 covers which allows flexible seating arrangements.
The business has an excellent roadside trading position with good signage and has been fitted to a high standard throughout including good quality fixtures and fittings due to the total refurbishment prior to opening in 2018 by the current owners.
Since being established, our client has built a loyal and regular customer base and already has a good reputation not only locally but also further afield for the food served by the experienced chefs which include the current owners. We have been advised that the client base has grown mainly through word of mouth, not only from locals but also from tourists who have used many of the taxi firms locally. A significant social media marketing campaign has boosted the performance of the business in 2020.
Weekly Sales
We have been advised that the average takings are in excess of £13,000 per week boosted by social media marketing and a successful new menu with potential to improve further.
Accounts
Current records can be inspected when viewing.
Trading Hours
Sunday - Thursday 17.00 - 23.00
Friday & Saturday 17:00 – 00:00
Staff
Managed on a day to day basis by the owners which are all family members along with part time staff to cover various shifts.
Building External
The business occupies the ground floor of a three storey terraced property. The double fronted building is highly visible with excellent signage from the roadside.
Building Internal
The business provides a welcoming feel when entering from the street with the restaurant having been tastefully decorated throughout with a local theme thus creating a pleasant seating area for those wishing to eat in who are either local residents or tourists to the area.
The restaurant is open plan in design and has approx. 54 covers throughout although we have been advised more covers could be added. The main seating area offers flexible seating arrangements and is often used for private functions or larger parties.
The bespoke built bar and reception area are to the rear of the restaurant and benefits from marble effect work tops along with ample under counter refrigeration and display shelving for spirits and wines.
The commercial kitchen is well fitted and benefits from a number of stainless work tops with chiller and storage facilities under. Walk in fridge which we have been advised was recently refurbished.
Epos till system
Customer toilets facilities which are presented in excellent condition
Ample storage facilities throughout the ground floor
Residential Accommodation
The flat above the restaurant is fully refurbished to a high standard and consists of 5 bedrooms,3 of which are on the first floor with the WC and shower-room and an additional 2 bedrooms on the second floor. This could be sublet to provide additional income.
Tenure
We are advised that the property is held on a 25 year lease which commenced in November 2018. The rent is £30,000 per annum exclusive (correct as advised on 13.03.20).
Rent reviews are at 5 yearly intervals.
Summary
A superb opportunity to purchase a destination Indian restaurant with impressive and substantial accomodation which benefits from a regular and loyal customer base which is constantly growing through word of mouth and personal recommendation.
A viewing is highly recommended to fully appreciate the prime location and overall business opportunity which would ideally suit an experienced hands on owner to maximize profits or an existing operator who is looking to expand a portfolio.
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.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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.
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.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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.
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.
Be safe, use a Rightbiz Solicitor
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.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
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.
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.
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.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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.
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.
Be safe, use a Rightbiz Solicitor
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