Business Summary:
Well Established Licensed Italian Restaurant
Confidentially offered for sale
Ref No: AC135
Location: Berkshire
Asking price: £150,000
This business was established in 1993 by the Vendors and with a generous combination of innovative insight and entrepreneurial spirit it has grown since to become a significant enterprise with a reputation for the quality of its menu, wine selection, environment and the successful combination of restaurant decor and ambience. As well as establishing itself for its food and menu the restaurant is the longest established Italian restaurant in the town and in the area.
The welcoming, comfortable and contemporary restaurant for 60 covers benefits from a prime and significant high street location and a prominent frontage that comprises of a large glass window, while the interior has a distinct Mediterranean feel. Free parking is available in the vicinity in the evenings.
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| Facilities / Terms of Lease:
Situated in a prime and significant location on the High Street in the middle of this lively and entertaining Town the business benefits from glass fronted premises with a reception vestibule leading to the 60 cover restaurant with licensed bar to the rear and ladies and gents toilets. Behind this is the fully equipped commercial kitchen with storage and rear exit.
The premise has a renewable 25 year lease expiring in 2027 with rent reviews on a 5 yearly basis. Current rent is £24,000 per annum, with rates payable of £6,700 per annum |
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| Potential
Growth/Expansion:
The current market for this business is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs. |
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| Competition:
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation, as well as its prime location. |
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| Owner
willing to train:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading. |
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| Reason for selling:
Both owners have other extensive business interests and wish now to concentrate exclusively on these, having realised that they are not devoting the necessary amount of time and focus in order to continue with the growth of this excellent business. |
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Seller Reference Number: AC135
BusinessMart.com Listing Number: 40695 |
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