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Established Restaurant - Ripon For Sale

Ripon, North Yorkshire, UK
Asking Price:
£120,000 Furniture / Fixtures included
Turnover:
£222,920
Net Profit:
£22,500

Prominent Town Centre Location
Accounts Available Year End 30th September 2020
Annual Turnover £222,920
Gross Profit £153,539
Accounts Available After Viewing
Management In Place
Seating For 60
Superb Reputation
Alcohol Licence
Five Star Hygiene Rating
Good Social Media Following
8 Point CCTV In Place
Could Suit Any Cuisine
Scope To Extend Opening Hours
EPC - TBC

REF 7551 – Leasehold Restaurant

Blacks Brokers are pleased to bring to the market this leasehold restaurant located in Ripon, North Yorkshire.

Introduction

Bambudda was established by our client in this affluent and busy area of Ripon in 2017. The business offers a variety of freshly prepared Asian cuisine with a modern twist. It has become 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, five star hygiene rating and superb reviews are noted on Google, Facebook and other websites. Bambudda has a comprehensive website in place.

Location

Bambudda occupies a stunning central position overlooking Ripon Cathedral. The area is densely populated commercially with neighbouring businesses including independent retailers as well as large multiples such as Sainsburys and HSBC. There are also a number of car parks and other local amenities nearby including parks and hotels. The area is well linked by the A1(M) and A61 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 other business commitments, the business is managed mainly by staff and is therefore offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

Lease

The building is available on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is a five year lease which began in 2019 at a cost of £385 per week.

Staff

The business operates with ten members of staff in employment – this includes a manager and front of house team.

Financial details

Bambudda has traded solidly since opening and our client has established a strong repeat customer base. The accounts year end 30th September 2020 show that the business has an annual turnover of £222,920 and gross profit of £153,539. Full financial information is available upon request.

Business rates

The business has a rateable value of £18,000. Purchasers should enquire with relevant local authorities to confirm the rates payable.

Summary

This well established business occupies an enviable trading position in a central area of Ripon. 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 new menu options and longer opening hours to include a lunchtime service and potentially a takeaway service. This proposition could suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. It could also suit a new owner looking for an existing business to manage remotely as management and front of house staff are already in place. Early viewings are strongly advised.

Property Information

Property:

Leasehold

Business Operation

Trading hours:

Mon - Sat: 16:30 - 22:00

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