Notting Hill Pan Asian Restaurant For Sale

Business description

The business has built a superb reputation over the past 11 years of trading on a world famous road, in the fashionable Notting Hill area. With a pan-Asian oriental cuisine covering Chinese, Malaysian and other far-eastern cuisine, the restaurant is known for their quality of food and service, with sensible pricing, that appeals to all. They have established a dining package that has won rave reviews from the press and recommendation from high-profile customers alike.

The restaurant has seating for 32 guests inside, and 16 guests outside in a heated and covered delightful garden area. The current décor is minimalist, contemporary and finished to a very high standard. Downstairs there is the kitchen, separate toilets and staff room.

The restaurant is fully-booked on an on-going basis, with some take-away trade which could be developed further to include deliveries.
The business trades from 6:45 pm to 10:45 pm nightly.

The present owner holds a new 120 year leasehold / virtual free-hold on the premises. The annual rent and rates are approx £30,000, although the owner is open to discussions regarding the purchase of the virtual freehold.

The area is in the process of setting-up a new trade association for the local businesses. This will drive even more traffic and footfall to an already busy region with events planned through-out the year.

Equipment:

The restaurant has invested heavily in the infrastructure of the kitchen and dinning area, and has an exceptional web presence.

Customer Service:

The business is proud of its reputation for quality of service, with a hands-on approach to make sure each visit is a dinning experience. Customer Service is paramount to the success of the business, the vendor has strived to build a loyal client base, with a long-term outlook to customer satisfaction, and repeat bookings.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The property is leasehold. Current turnover is £211,000 per annum. The restaurant has the capacity and infrastructure in place to seriously increase business levels and there is no reason why a new owner with new energy levels, fresh ideas and initiatives could not significantly increase its revenues and future profitability.

The business is financially stable with no borrowings, low overheads, no debtors, and has shown consistent returns over the past 10 years.

Property information

Property:

Leasehold

Lease terms:

The premises are leasehold. Rent and Rates are circa £30,000.

Location:

The premises are leasehold. Rent and Rates are circa £30,000. The vendor is open to discussions regarding the purchase of the virtual freehold. The business is viewed by local authority closed circuit television, and has a security grill. Full details can be provided upon completion of the Turner Butler confidentiality agreement.

Other information

Expansion potential:

This is an outstanding opportunity to build on the existing business levels and customer base of this company, backed by an excellent reputation. With a strong demand for this business’s services, a new owner who is capable of instilling fresh ideas and new marketing will have every advantage of building on an excellent platform.

The current business operates in the evenings only due the vendor’s choice. As such, there is tremendous scope to increase business by opening for a lunch-time service to the established client base, without adding significantly to the ongoing over-heads. There are also opportunities to build on the take-away service. The vendor is confident that contracts can be developed for room-service to quality establishments within easy reach of the location.

Competition / Market:

The business utilises the internet with a good web presence. Advertising is kept to a minimum, as the business has grown through the best form of advertising – recommendation.

Support & training:

The owner currently runs the business with the assistance of his wife. The vendor will provide full training and ongoing support, as required, on all aspects of the business when the handover takes place and will ensure the successful purchaser is fully conversant with the operation of the business.

Reasons for selling:

After 11 successful and happy years in the business, the vendor is wishing to make a lifestyle change, and intending to return to his native Singapore.

Trading hours:

6:45 pm – 10:45 pm daily