An exceptionally well-fitted restaurant premises, which was newly renovated by our clients in September 2020, have brought the business to market with a genuine reason for sale. The premises are presented to a very high standard with quality fixtures & fittings throughout, and they are being sold with a full complement of equipment included in the sale price. Strong established turnover, which still leaves scope to increase further by extending the trading days and times and by further utilising the delivery side of the business, which our client has only done on a very limited basis. The business has built up an enviable reputation over our client's period of ownership, supported by a 4.5* TripAdvisor rating, a 4.5* Google rating, a 5.6* Just Eat rating, and a strong social media following of over 5,000 on their Instagram. This is a rare opportunity to acquire a relatively newly fitted business of this type with a fantastic reputation in a highly sought-after location, so an early viewing is advised.
Location
The premises are situated in a prime trading location within a highly sought-after area, benefiting from free lay-by parking directly to the front of the premises and along the road from which it trades. The location gives the business high visibility in the area and provides enviable levels of both footfall and vehicular passing trade.
Tenure
Lease until September 2033 at a rental of £25,800 plus VAT per annum, exclusive.
Premises
A semi-detached shop with parking to the front for 10+ spaces, a raised decking area across the entire frontage with 4 high tables in an open-air area, a covered seating area currently arranged for a comfortable 20 covers with a heating system within, and a serving counter. One door at the front of the building leads into a small drink storeroom, and another large single-glazed entrance door leads into the premises, which measures approximately 1,528 sq. ft. (142 sq. m.) and is arranged as follows:
Main Restaurant
RECEPTION/WAITING AREA with customer seating, tiled flooring and coat store. Another large glazed single door leads into the MAIN RESTAURANT AREA which is currently arranged to provide a comfortable 36 covers with tiled flooring, spot-lighting, hanging feature lights, bar, beer taps, 2 x double under-counter display fridge, EPOS till system, 3 card handsets, coffee machine, coffee grinder and glass washer. The premises benefits from being air conditioned, has an integrated sound system and CCTV throughout.
Commercial Kitchen
An opening at the rear of the bar leads through to a COMMERCIAL KITCHEN with 3 x stainless-steel prep tables with under-counter refrigeration, 2 x rice cookers, twin-basket fryer, commercial extraction system, 8-burner range, various stainless-steel prep tables, wash-hand basin, stainless-steel double sink, single-basket fryer, microwave, blender and freezer. Another door behind the bar leads to a storage room equipped with a dishwasher, ice maker, stainless-steel double sink, 2 x fridge-freezers, an under-counter fridge, a large freezer, 2 x large fridges, shelving, racking, and a blender. A door at the other end of the main restaurant area leads through to separate LADIES & GENTS WC
First Floor Seating Area
An internal staircase from the main restaurant area leads up to a first-floor floor seating area currently arranged to provide 24 comfortable covers.
Staff & Trading Hours
The business is run by the vendor with the assistance of 2 salaried chefs and various other staff on zero-hour contracts, including a general manager, 2 chefs, 2 front-of-house supervisors, and various part-time front-of-house staff. The business currently trades Tuesday to Friday from 5 pm until 11 pm, Saturday from 12 pm until 12 a.m., and Sunday from 12 pm until 10 pm. Closed on Mondays.
Turnover
Gross sales average £12,000 per week, working to the usual high gross profit margins associated with the trade, and have been growing over our client's period of ownership. Further financial information will be disclosed to seriously interested applicants following a viewing of the business, with the client's permission.
Business Rates
The premises are subject to a rateable value of £18,250, and we are advised that business rates are currently payable at approximately £455 per month.
Legal Costs
Each party is to be responsible for their own legal costs incurred in the transaction, with the landlord's legal costs to be split 50/50.
Summary
A reasonably newly and fantastically fitted restaurant business that trades from a highly enviable location within Ingatestone. Very strong established turnover, which still leaves scope to increase further by better utilising the delivery service and extending the trading days and times. Viewing recommended.
Disclaimer
While every care is taken to ensure that these particulars are correct, accuracy is in no way guaranteed, and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose; otherwise, the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
