Businesses For Sale > Business For Sale in Primrose Hill, London, NW1, UNITED KINGDOM - UK (UK)

AC158 -Primrose Hill, London, NW1-£195,000-Restaurant Specialising in Regional Italian Cuisine for sale in Primrose Hill, London, NW1, UK

Primrose Hill, London, NW1, UNITED KINGDOM - UK (UK)

Business Summary: Restaurant Specialising in Regional Italian Cuisine Ref.AC158 Location Primrose Hill, London, NW1 Asking Price £195,000 An opportunity has arisen to take on ownership of a well-established restaurant located right in the middle of the nation’s capital. Established in 2004, the past few years have seen this business emerge as an exciting new player in London’s vibrant restaurant scene. Specialising in regional Italian cuisine, the restaurant combines contemporary and rustic styles to create a truly unique dining experience. Everything on the menu is prepared from fresh food delivered daily and bread is baked on the premises. An extensive wine list ranges in price from £14.00-£100.00. The restaurant is capable of serving 90 covers with the option of providing for a further 20 outside. The average customer spend is estimated at £40 per head. The customer base is diverse and comprised of a mixture of local residents, tourists and business people. An excellent reputation was quickly established as a result of both major press coverage and word of mouth. The current owners pride themselves on the quality of the food and the excellent service provided by well-trained attentive staff. Regular feedback from patrons suggests the restaurant is widely regarded as the best on offer in the local area. This truly is a remarkable opportunity for the right entrepreneur to take advantage of both an excellent reputation and an envious London location to gain a head start in the highly competitive world of restaurant dining.
Year Business was Established: 2004
Facilities / Terms of Lease: The restaurant is currently occupied on a 25-year renewable lease taken on in 2003. Rent is £65,000 per annum with a further £19,000 in rates payable. The property consists of a dining room, kitchen, storeroom, wine cellar, boiler room and further storage.
Competition: Major guidebooks (including the Michelin guide) and press coverage have been the source of much custom for the restaurant. However, there is potential for a more aggressive marketing strategy that favours more investment in advertising to maximise on the existing strengths of the business. In addition, the restaurant currently has no web presence, an avenue that may well prove worth exploring to attract increased business. Maintaining the high standards that are currently on offer will ensure that the repeat custom currently enjoyed will continue well into the future.
Owner willing to train: The current owner will provide all necessary training and handover to ensure a smooth transfer of the business to new owners.
Reason for selling: The owner has reached the age where he wishes to retire and handover the running of this successful company to somebody with energy and focus to build on the successes that has been achieved over the fast few years and continue to run this business with t
Seller Reference Number: AC158 BusinessMart.com Listing Number: 50441
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