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Licensed Freehold Restaurant & Two Income Producing Flats For Sale

Richmond, North Yorkshire, UK
Asking Price:
£525,000
Turnover:
£416,000
Net Profit:
Available on request

Licensed freehold restaurant & two income producing flats in Richmond for Sale.

Located in Grade Two listed premises in the centre of the historic North Yorkshire market town of Richmond. Just off Market Place, the restaurant is hugely popular with both tourists and local residents. Having traded here for over 30 years, the restaurants reputation for high quality Chinese cuisine is legendary, however the premises and location would support any other style of restaurant, bistro or bar operation. Additional to the highly profitable and long established restaurant the property includes two income generating flats, bringing in almost £13,000 in rental revenue per annum. Richmond is a picture postcard historic market town in North Yorkshire, benefitting from a colossal amount of tourists and visitors (all year around) to its ancient castle and market square, plus rapidly developing residential neighbourhoods sitting in very close proximity. The military enclave of Catterick garrison is less than 2 miles away and is the largest British Army garrison in the world, set to house some 25,000 military personnel and families by 2020. The business has been under the same ownership now for over 22 years. During Spring & Summer months the average weekly turnover is in the region of £8,000 from short, evening only service. Showing Adjusted Net Profits in excess of £80,000 prior to directors remuneration on accounts for year ended 31st July 2018. The restaurant also enjoys a strong level of takeaway trade too. Offering a delivery service via UberEats, Just Eat or Deliveroo would greatly improve takings, especially given the high density residential military camp close by. The property is a three story Grade II listed building located close to the main Market Place, in a parade of attractive shops, professional offices and prestige residences. Easy on-street free parking directly in front of the parade, plus additional public parking in and around the market square. Ground Floor – Large restaurant currently laid out to accommodate 75 diners, plus reception seating and bar. Short steps to banquet table. Further to the rear of the restaurant is the kitchen which is superbly and comprehensively equipped with commercial catering equipment. Ample dry store and pot-wash areas. Hall to toilet facilities. Upper Floors – To the upper floors there are two residential flats, both accessed via an independent external staircase located down the archway to the left of the property. Both flats share an outside terraced seating area. Flat 1 – A large four bedroomed self-contained flat over two floors. The flat is tenanted and produces a rent of £620 per calendar month. Flat 2 – A two bedroomed self-contained flat over two floors. The flat is tenanted and produces a rent of £447 per calendar month.
Restaurant EPC Band C, Flat One EPC Band D, Flat Two EPC Band D.

Property Information

Property:

Freehold

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