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Leasehold Italian Restaurant In Falmouth For Sale

Falmouth, Cornwall, UK
Asking Price:
£59,950 Furniture / Fixtures included
Turnover:
£120,000
Net Profit:
Available on request

Leasehold Italian Restaurant located in Falmouth. Substantial 2 bedroom owners accommodation above. Town centre location. Licensed and operates on short hours.

Veritas Business Sales are delighted to offer for sale this delightful Italian Restaurant which is located in the harbour town of Falmouth. The business was established by our clients 7 years ago and they are now offering the business for sale so that they can concentrate on other business interests.
Since ownership they have continually invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Mangia Italian Restaurant is owner operated with the help of 1 part time member of staff and has an annual turnover of circa £120,000 (11 month opening).
They serve a fine range of rustic Italian classics, specializing in homemade bread, pasta, pizza and ice cream. Fresh fish also is featured on the menu with locally caught mussels being very popular. All can be accompanied with some fine wines which can all be enjoyed in a relaxed and cosy atmosphere. All fayre is freshly prepared to order on site using only the finest Italian produce which has gained them a TripAdvisor certificate of excellence with a 5 star rating.
We believe that there is further potential to increase trade by extending upon the current opening times and opening lunchtimes as well as Sundays & Mondays, which they currently do not do. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. This is a superb opportunity to purchase an established business with further potential which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Property Information

Property:

Leasehold

Lease Terms:

Original term: 12 years Remaining : 5 years Rent: £12,500 pa Business rates: Currently zero
Council Tax (Living Accommodation Band A)

Leasehold Rent:

£12,500 per annum

Location:

This respected Bar & Restaurant is located in the vibrant harbour town of Falmouth which offers a variety of blue chip and niche independent retailers and has benefitted from significant investment in recent years in its commercial and residential infrastructure along with Falmouth University. The business is positioned on the main street in the heart of the town centre and close to the cinema, bus station and only a short walk from the marina and Maritime Museum. Falmouth has recently been voted as one of the most desirable places to live in the UK.

Premises Details:

Ground Floor
Restaurant (4.3m x 7.5m) comprising: 10 tables with covers for (24), various shelving, window display, serving counter, ice cream display fridge, chiller display unit, wine chiller unit, electronic till, coffee machine, under counter drinks fridge and various shelves, glass washer, ice machine
Kitchen (5.7mx 3.3m) comprising: vacuum packing machine, plate warmer (Caterlux), wash basin, sink with directional hose and drainer, dish washer with feed, various wire wracking, sous vide bath, stainless steel shelves, oven with 3 hot plates (Falcon), pasta boiler (Giorik), griddle (Grill Vapor), extraction unit, salamander grill (Giorik), dual fryer (Lincat), 2 door chiller unit (Blizzard), various kitchen utensils, 3 door chiller unit (Polar), 3 stainless steel shelves (Vogue), salad chiller unit, meat slicer, 2 oven pizza (12) (Italforni Pesaro), pasta maker, upright stainless freezer (Polar) and food dehydrator.
W/C with wash basin and wall mounted mirror.
Store cupboard.

External
Frontage with 2 picnic style benches with covers for (8)
Rear courtyard with bin storage & staff toilet

First Floor
Owners accommodation
Lounge (4.2m x 8.6m), Hallway, Kitchen (4.7m x 2.6m), Bathroom (1.5m x 2.8m)
Second Floor
Bedroom1 (6.1m x 3.1m) Double, Bedroom 2 (3.0m x 4.8m) Double, Landing area (3.8m x 3.0m)

Energy Performance Rating:
E

Business Operation

Trading hours:

Tuesday – Saturday – 6:00pm – 9:00pm
Monday & Sunday – closed

Years established:
7 years

Other Information

Inventory / Stock value:
£1,000

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