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Popular Licensed Bistro And Restaurant In Manchester For Sale

Manchester, Greater Manchester, UK
Freehold Price:
£584,995
Leasehold:
On request
Turnover:
£437,858
Net Profit:
Available on request

Long Established Since 2006
Accounts Available 29th April 2020
Annual Turnover £437,858
Gross Profit £264,137
Full Alcohol Licence
Run Under Management
5 Star Hygiene Rating
Fantastic Online Reviews
Well Equipped Throughout
1 Bedroom Accommodation Available
£7,800Rental Income Per Annum
Seating Inside For 26 & Outside For 80
Freehold & Leasehold Options Available
Top 100 Out Of 1,800Restaurant on TripAdvisor
Certificate Of Excellence From TripAdvisor
EPC - C

REF 6685 – Freehold & Leasehold Licenced Bistro/Restaurant

Blacks Brokers are pleased to bring to the market this freehold licensed bistro/restaurant located in a busy and affluent and fashionable area of West Didsbury, Manchester.

INTRODUCTION

Thyme Out has been trading on Nell Lane since 2006. Our client established the business to meet local demand for a licenced bistro in this area of Didsbury. The business is well known and has an exceptional reputation in the area and is considered one of Manchester's best brunch locations with a large base of regular customers and superb reviews noted on Facebook, Trip Advisor and Google. Our client has also established the business online with a comprehensive website. The business has a hygiene rating of 5.

LOCATION

The business is positioned on a busy main road close to Withington Community Hospital, West Didsbury Police Station and Cavendish Road Park. The area has a densely residential population and is well linked by the M60 and A5103. There are good public transport links and a private owned car park.

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 and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

Should a new owner wish to go for the leasehold option the building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. A new five year lease will be negotiated at a cost of £346 per week.

STAFF

The business is currently operating with ten members of staff in employment. Our client does not have hands on involvement in the day to day running of the business.

FINANCIAL DETAILS

Thyme Out has traded well since opening in 2006. We are advised that the business currently has annual turnover of £437,858 with gross profit of £264,137. Full financial details are available upon viewing.

BUSINESS RATES

The business has a rateable value of £16,000. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business occupies a superb trading position on a busy road. There is plenty of scope to develop the business further with an extension of opening times which is already approved in the licence and the introduction of delivery services with companies such as Just Eat and Deliveroo. 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:

Available as freehold and leasehold

Business Operation

Trading hours:

Monday - Friday: 8:00am - 4:00pm - (Licenced until 6pm)
Saturday - Sunday: 8:00am - 4:30pm - (Licenced until 6pm)

Other Information

Leasehold asking price:
On request

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