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Popular Restaurant & Bar Colne

Colne, Lancashire
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  • Leasehold: £99,950
  • Turnover: £191,679 £3,686 Per week
  • Net Profit: Not Applicable

Business Details

    Prominent Main Road Trading Position

    Accounts Year End 2021 Available Upon request

    Accounts Available Year End 31st March 2020

    Annual Turnover £191,679

    Gross Profit £101,784

    Financial Information Available After Viewing

    Spacious Four Storey Property

    Established 2017

    Emigration Sale

    Well Presented

    Large Function Room

    CCTV Fitted Throughout

    Scope To Expand Opening Hours

    Potential For Breakfast Service

    Scope To Market Function Room Events

    EPC - TBC

Description:
REF 7494 – Leasehold Restaurant & Bar
Blacks Business Brokers are pleased to bring to the market this leasehold restaurant & bar located in Colne, Lancashire.

INTRODUCTION
Riley's was established by our client in this popular residential area of Colne in 2017. The business is very well known in this area and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to this excellent trading position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google, Facebook and Trip Advisor. Riley's has a good social media presence with an active base of followers.

LOCATION
Riley's occupies a main road trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including independent retailers as well as large multiples such as The Post Office and BMW Garage. There are also a number of other local amenities nearby including schools and Colne Train Station. The area is well linked by the M65 with very strong public transport links and parking is available in the surrounding area.

REASON FOR SALE
The business is ideally suited to a hands-on owner-operator but due to our client’s emigration plans, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

STAFF
The business operates with seven members of staff in employment supporting our client working on a full time basis in a managerial role.

FINANCIAL DETAILS
Riley's has traded solidly since opening and our client has established a strong repeat customer base. The accounts year end 31st March 2020 show that the business has an annual turnover of £191,679 and a gross profit of £101,784. Full accounts can be made available after viewing.

BUSINESS RATES
Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY
This popular and well established business occupies an enviable trading position in a busy and highly sought after area of Colne. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of longer opening hours, possibly to offer breakfast services. Additionally, a new owner may also look to create a new online presence with booking and ordering services. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Accomodation:
BUILDING LAYOUT AND DESIGN
Riley’s operates from a spacious mid terraced property on a busy road. The business has large branding and signage on display above a fully glazed frontage. Inside, the ground floor comprises of a large, open plan bar area with two snugs and welcoming bar. The kitchen and toilet facilities are positioned to the rear of this along with an outdoor smoking area. The kitchen is fully fitted with a range of high value catering equipment. All areas are beautifully finished.
There is a large function room is positioned within the first floor. This has a private bar and toilet facilities with access to the rear outdoor smoking area. Additionally, the second floor which is currently used for storage which could be converted into office space and there is also a large basement used for storage.



Opening Hours:
WED/THU 12:00 – 23:00 FRI/SAT/SUN 11:00 - 23:00


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Stay Safe

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.

Stay Safe

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

Stay Safe

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.

Stay Safe

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. Reset 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.

Stay Safe

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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