Prominent Main Road Trading Position
Accounts Year End 2021 Available Upon request
Accounts Available Year End 31st March 2020
Annual Turnover £191,679
Gross Profit £101,784
Financial Information Available After Viewing
Spacious Four Storey Property
Large Function Room
CCTV Fitted Throughout
Scope To Expand Opening Hours
Potential For Breakfast Service
Scope To Market Function Room Events
EPC - TBC
REF 7494 – Leasehold Restaurant & Bar
Blacks Brokers are pleased to bring to the market this leasehold restaurant & bar located in Colne, Lancashire.
Riley's was established by our client in this popular residential area of Colne in 2017. The business is 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 and superb reviews are noted on Google, Facebook and Trip Advisor. Riley's has a good social media presence with an active base of followers.
Riley's occupies a main road trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including independent retailers as well as large multiples such as The Post Office and BMW Garage. There are also a number of other local amenities nearby including schools and Colne Train Station. The area is well linked by the M65 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 emigration plans, 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.
The business operates with seven members of staff in employment supporting our client working on a full time basis in a managerial role.
Riley's has traded solidly since opening and our client has established a strong repeat customer base.
The accounts year end 31st March 2020 show that the business has an annual turnover of £191,679 and a gross profit of £101,784. Full accounts can be made available after viewing.
Purchasers should enquire with relevant local authorities to confirm the rates payable.
This popular and well established business occupies an enviable trading position in a busy and highly sought after area of Colne. 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 longer opening hours, possibly to offer breakfast services. Additionally, a new owner may also look to create a new online presence with booking and ordering services. 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.