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High-Turnover Chinese Buffet Restaurant in Greenock, Ready for Various Cuisines

Greenock, Inverclyde
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Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 1
Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 2
Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 3
Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 4
Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 5
Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 6
Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines Photo 7
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Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisinesStunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisinesStunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisinesStunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisinesStunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisinesStunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisinesStunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines
  • Status

    FOR SALE

  • Date Submitted:

    08/07/24

  • Advert ID

    613967

  • Reference

    Happy Valley / Rightbiz

  • Call Agent:

    Registered members »

  • Freehold: £325,000
  • Turnover: On request
  • Net Profit: On request

Business Details

Stunning, well performing Chinese Buffet Restaurant in Greenock. Would suit variety of cuisines

Happy Valley

18 West Burn Street, Grenock, PA15 1JR

·        Stunning & well performing restaurant opportunity

·        Currently Chinese buffet restaurant but would suit variety of cuisine styles

·        Recently refurbished to an exacting standard. c.£200k spend

·        Prominent trading position within heart of town centre, close to many amenities

·        Circa 80 covers plus large custom built buffet section

·        Area approx. 283 SqM (3,046 SqFt)

·        Turnover in excess of £10,000 per week. 5-day trading only

LOCATION

The subjects benefit from a prominent trading position on West Burn Street, between the junctions of West Blackhall Street and Dalrymple Street, in the heart of Greenock town centre, which lies within Inverclyde, Scotland.

The subjects are positioned within a busy retail and licensed thoroughfare and benefits from high levels of passing traffic and footfall throughout the day and evening.  The subjects benefit from their close proximity to both Tesco supermarket and the Oak Mall shopping Centre which is home to many of the largest high street retailers including Primark, JD, Boots, Argos and New Look.  The subjects also benefit from their close proximity to the Waterfront development which is home to a Cinema, Leisure Centre, Bingo and the newly opened Scott’s Bar & Restaurant.

The town has seen a lot of investment in recent times, and Greenock’s Ocean Terminal is now attracting many of the world’s largest cruise ships bringing a high influx of regular passengers to the town.

Greenock is one of the largest towns on the west coast of Scotland and is located on the south bank of The River Clyde where it expands into the Firth of Clyde, approximately 25 miles west of Glasgow which is easily accessed via the A8 and M8 motorway. 

The town has a population of around 50,000 people, but benefits from the neighbouring towns including Gourock and Port Glasgow, giving a core catchment population of around 270,000 people.

THE PROPERTY

The subjects comprise part ground floor of this 2-storey, traditional, blond sandstone property under a pitched roof.

DESCRIPTION

The subjects are accessed directly from West Burn Street via double doors with prominent signage above. An entrance vestibule leads into a customer waiting area to the front with fixed banquet seating, and then a bridge feature takes you into the main restaurant area.

The entire premises were completely refurbished in 2019, with an approximate £200k refit and have been designed and fitted to an exacting standard with high quality finishings throughout.

The front section is home to a fully equipped bar/servery, and seating is provided for approximately 60 customers by way of stylish fixed comfy booths, banquet seating and loose tables and chairs.

The rear section provides a further 20 covers with the same stylish seating, but is predominantly home to the large, custom built buffet area with marble topped counters incorporating 15 hot buffet chafing dishes, 2 chill display counters, display chill cabinet, 2 soup kettles, ice cream freezer and chocolate fountain.

ANCILLARY AREAS

·        Male, Female & Disabled toilets

·        Large fully fitted commercial kitchen

·        Walk in chill

·        Office

·        Various ancillary storage areas

·        Staff toilet

·        Rear delivery access and bin storage

SIZE

We understand that the premises have a gross internal area of approximately 283 SqM (3,046 SqFt)

THE BUSINESS

Our clients have owned the property for approximately 20 years and operated it themselves initially trading as the Jade Palace, however have leased the premises out for much of this time.  The property was rebranded to Happy Valley in 2019 after an extensive refurbishment.

The business trades as a Chinese buffet restaurant and enjoys a great reputation for its huge variety of Chinese dishes and desserts, and has a large customer base made up of locals and regulars, as well as benefitting from surrounding businesses, hotels and nearby amenities including the cruise ship terminal, cinema, shopping centres etc.

The business currently trades 12pm-9pm, 5 days a week, closing on Tuesdays and Wednesdays.

The business trades exceptionally well in its current format and would suit a Chinese operator, however it is felt that given the stylish and contemporary fit out that it could easily be adapted to suit a different cuisine style or concept without much expense.  It is currently set up as a buffet restaurant, however if the buffet section was removed, it could accommodate an additional 20 covers.

TRADING INFORMATION

We have been advised that the business turns over in excess of £10,000 per week gross.  Further trading information can be provided to interested parties only after formally viewing the business.

FIXTURES & FITTINGS

We have been advised that all trade fixtures and fittings are owned outright and are free from any hire purchase or lease agreements. 

LICENCES

The business trades with the benefit of a premises licence.

RATES

The subjects are entered into the current valuation roll as having a rateable value of £27,000.

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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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