Leasehold Italian restaurant for sale in Balsall Common, Coventry West Midlands
Coventry, West Midlands
- Status
FOR SALE
- Advert ID
655791
- Reference
3282 / Rightbiz
- Call Agent:
- Leasehold: £134,950
- Turnover: £364,000 (£7,000 per week)
- Profit: Not Applicable
Business Details
Leasehold Italian Restaurant Located In Balsall Common
Leasehold Italian Restaurant Located In Balsall Common55 Seater Restaurant
Private Dining Room
Well Fitted
Ref 3282
Asking Price £134,950 plus SAV (£5,000)
Location
This respected Italian Restaurant is located the in village of Balsall Common. The restaurant occupies a prominent and highly visible trading position on Kenilworth Road. If you're assessing it as a place to live, invest, or run a business, it scores strongly for convenience and connectivity. The parade offers a variety of well-known retailers to include Tesco Express, One-Stop, Costa Coffee and Domino’s. Berkswell Railway Station is within close proximity which connects you to Birmingham and Coventry.
Business Description
Veritas Business Sales are delighted to offer for sale this delightful Italian Restaurant which is located in Balsall Common. The business was established by our client in 2021 and is now reluctantly being offered for sale as the owner requires knee surgery, which will take him out of action for approximately six months.
Since ownership they have refurbished, redecorated and installed new equipment along with fixtures & fittings, all of which is included in the sale price, representing a significant saving for any new purchaser as no immediate capital expenditure should be required. La Stalla is owner operated, has no staffing liabilities and generates an average weekly turnover of £7,000–£8,000. The menu offers authentic Italian cuisine which is served in a cosy (45) seater restaurant which also benefits from a private dining room with additional seating for (10).
We believe that there is further potential to increase trade should you wish, by expanding upon the current opening times and opening on Sundays and Mondays. Sunday lunch service was previously offered and proved to be extremely popular, making it easy to reintroduce. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade. This is a fantastic opportunity to purchase an established restaurant with further potential which provides an excellent platform for future growth and as such early viewing is highly recommended.
Opening Times
Sunday & Monday – closed
Tuesday – Friday – 12:00 – 15:00 – 18:00 – 22:00
Saturday – 18:00 – 22:00
Leasehold
Term: 10 years
Remaining: 5 years
Rent: £28,500 pa
Reviewed: 5 yearly
Rent deposit: £14,250
Business rates: £5,880 pa
Building Insurance circa £1,000 pa
Ground Floor
Double doors leading to a small vestibule porch.
Private dining room with seating for (10), display unit for wine and storage and storage cupboards.
Restaurant with seating for (45), display unit for wine storage, fresh fish chilled display unit (Polar), under-counter wine fridge, baby highchair, bar area with (Peroni) beer pump, storage shelves for glass storage, glass washer (Class EQ), stainless steel sink drainer, filter coffee machine (Adexa), twin head espresso coffee machine (Fracino), coffee grinder (Cunill), spirit display shelves, under-counter drinks fridge (Adexa), 2 door drinks fridge (Prodis).
Toilet with WC, wash basin with vanity unit, electric hand dryer (Gorilla) 2 x wall-mounted mirrors, urinal, baby change.
Storage cupboard for linen storage.
Kitchen with 6-burner range (Falcon) 7 x stainless steel wall-mounted shelves (Adexa), salamander grill (Buffalo), extraction canopy, stainless steel table, deep fat fryer (Adexa), 2 x stainless steel under-counter fridges, small stainless steel table, stainless steel work top with twin bain-marie, hot cupboard and heated pass (Empire). Stainless steel table with tabletop saladette (Tefcold), stainless steel table with two tier shelves, insect zapper, slimline stainless steel table with two shelves, wash basin, wall-mounted paper towel dispenser.
Preparation and washroom with stainless steel double sink drainer, 8 x wall-mounted stainless steel shelves (Adexa), dishwasher (Adexa), dishwasher (Mach), stainless steel table, rear exit door, upright stainless steel freezer (Adexa), double door stainless steel fridge (Adexa), 2 door under-counter drinks fridge (Polar), small chest freezer, stainless steel table with can opener, wall-mounted paper towel dispenser.
External
Off road parking for (2). Bin area, disabled ramp and seating area with tables & chairs.
EPC Rating D
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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.
Stay Safe
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.
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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.
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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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