Well Established Restaurant For Sale

York, North Yorkshire

Status

FOR SALE

Date Submitted:

01/06/21

Advert ID

277453

Reference

B06189 / Rightbiz
Leasehold: £329,999
Annual Turnover: £336,838
Business
*** Turnover £336,838
Operating Profit £99,648
This was achieved only operating 5 days a week and closing for 3 months of the year!
Imagine the potential if opened longer hours! ***


Please quote reference B06189

Hilton Smythe is delighted to present to the market one of North Yorkshires finest restaurant/takeaway opportunities. The well-established business began trading in 2015 and due to its continuous success moved to new larger premises in September 2019.

The business comes with a very loyal customer base who enjoy the friendly service and excellent quality food produced by their Thai chefs. TripAdvisor rated the restaurant as one of the top restaurants to visit in York with a 5-star customer review score!

We believe the ‘Turn-key’ opportunity will allow any new owner the ability to walk straight in and continue trading as well as potentially capitalise on the strong brand image by franchising the business model.

The new unit has undergone a complete refurbishment which has included new phaze 3 electrics, new decor and new equipment throughout. Our client has invested in the region of £180,000 in the physical transformation alone which includes a very large commercial kitchen, capable of taking on very high volumes of both restaurant and takeaway orders.

Before Covid the business gentereated weekly sales betweem £10,000-£12,000, there is potential to better those takings by opening over the Christmas period and extending the opening hours, plus opening for 6/7 days a week.

There is a 50-cover capacity set over two floors. There is a bar which offers beers, a full choice of spirits and wines.

The restaurant is now being offered for sale due to our clients' other business interests, the restaurant is currently closed Sunday and Mondays.

This can be ran as a family business with plenty of time off or as an investment where profits could be maximised with extended opening hours.. We think with the set up and location this could easily be converted to may other food types and be very successful.

There is a wide range of tasty Thai dishes.

There is a restaurant menu and takeaway menu available to view on their website.

Our client advises due to the Covid pandemic, the sales have been mainly derived from takeaway orders, with a 70% takeaway, 30% sit in sales ratio. However, as the area gets back to normality we expect to see restaurant sales to significantly increase.

Key selling points include -

  • High quality restaurant space
  • Potential to increase turnover to over £500,000
  • 8/5 Google reviews
  • Facebook - nearly 1,400 followers
  • TripAdvisor - rated 5 star and 26 of 886 restaurants visited
  • Just Eat - 5.8/6 customer review score
  • Very busy location for takeaway collections
  • Option to increase current opening hours
  • Trained chef team in place
  • Excellent menu created
  • Amazing Location, most in demand area in York
  • Potential to increase the delivery partners
  • Very large commercial kitchen
  • Potential to create a franchise brand
  • Handover period offered
  • Completely unique business/property in a very sort after area
The sale of the business includes a full fitted kitchen and all the equiptment.

Shed to rear for extra storage



Location
The restaurant is surrounded by many other complementary takeaways.

There are several new housing developments within 5 mins walking distance as well new student builds which will continue to increase the current footfall.

There is free customer parking in the adjacent streets.



Premises
Ground floor - includes 30 cover dining space, Thai beach bar, large commercial kitchen, disabled toilet facilities

First floor - includes a 20-cover dining space, ladies and men’s toilet facilities

Rear external - storage shed, bin store

There is customer parking to the front and staff parking to the rear



Tenure
We are advised the business is being sold on a Leasehold basis with 13 years left on the original 15 year lease. Rent is £1,833 per month.



Hours
The business hours are as followed:

Monday - Closed

Tuesday - 17:00pm - 21:30pm

Wednesday - 17:00pm - 21:30pm

Thursday - 12:00pm - 14:30pm & 17:00pm - 21:30pm

Friday - 12:00pm - 14:30pm & 17:30pm - 22:00pm 

Saturday - 12:00pm - 14:30pm & 17:30pm - 22:00pm

Sunday - Closed

(Ran on reduced hours. Extremely profitable and scope for further development).



Staff
The business is ran by the owners with help of a mix of part and full time staff.



Financial Profile
Further financial information can be made available upon request.

Please quote reference B06189



Contact Agent
Advert Reference:
B06189 / Rightbiz
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