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Korean Restaurant - Manchester City Centre For Sale

Manchester, Greater Manchester, UK
Asking Price:
£499,950 Furniture / Fixtures included
Turnover:
£697,027
Net Profit:
Available on request

Prominent City Centre Location
Accounts Available Year End 30th June 2021
Annual Turnover £697,027
Gross Profit £503,393
Accounts Available After Viewing
Established 2017
Seating For 50
Professional Kitchen
Superb Online Reviews
Five Star Food Hygiene Rating
Deliveroo, UberEats & Hungry Panda Accounts Established
Scope For Marketing Drive
Potential To Expand Menu
EPC - D

REF 7857 – Leasehold Korean Restaurant

Blacks Brokers are pleased to bring to the market this leasehold Korean restaurant located in Manchester City Centre.

INTRODUCTION

Chimaek Restaurant was established by our client in this bustling and popular area of Manchester in 2017 and is the first of it's kind in this area. The restaurant 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 city centre trading position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google, Facebook and Trip Advisor. Chimaek Restaurant has a comprehensive website in place.

LOCATION

Chimaek Restaurant occupies a prominent trading position close to Oxford Road Station. The area is densely populated commercially with neighbouring businesses including independent retailers and large multiples such as Holiday Inn and Premier Inn. There are also a number of attractions nearby including The Palace Theatre, Junkyard Golf and The Bridgewater Hall. The area is well linked by the A57(M) 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 interests being higher than anticipated, 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.

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 fifteen year lease which began in 2013 at a cost of £769 per week.

STAFF

The business operates with six members of staff in employment supporting our client working on a full time basis.

FINANCIAL DETAILS

Chimaek Restaurant has traded solidly since opening and our client has established a strong repeat customer base. Accounts for year ending 30th June 2021 show annual turnover of £697,027 and gross profit of £503,393. Full financial information is available upon request.

SUMMARY

This well established, popular business occupies an enviable trading position in central Manchester close to a number of attractions and amenities. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with a strong marketing drive and there is potential to expand the menu or change the cuisine if preferred. There is also potential for a new owner to look into franchising the business. 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.

Property Information

Property:

Leasehold

Business Operation

Trading hours:

MON: CLOSED
TUE - SUN: 12:00 - 21:00

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