Business Summary:
Traditional Restaurant Specialising in Portuguese and Continental Cuisine
Established for over 7 years with 50 Covers
Ref.AC232
Location Finsbury Park
Asking Price £ 175,000
Based on a successful formula started by the owners at their other premises 14 years ago this traditional, fully licensed restaurant has been under the current ownership since establishing in 2002. Specialising in authentic Portuguese and other European dishes this business, the only restaurant for several miles around, has been a firm favourite for serving authentic, well-cooked and reasonably priced food to its predominantly local Clientele.
The premises are very prominently situated in a very busy well known North London High Street close to Finsbury Park underground station. The positioning ensures high levels of awareness amongst the thousands of motorists that pass by every day. Alongside this is the busy shopping and market area locally, and the major influx of thousands during a premiership game at a major venue within walking distance. The décor is warm, welcoming and comfortable and customers enjoy a clean, relaxed and friendly atmosphere in which to dine.
Over the years this restaurant has built an excellent reputation for offering good service, a varied menu, catering for all lunch-time and breakfast trade alongside the traditional Portuguese cuisine popular amongst the local community, guaranteeing year round clientele. Utilising fresh ingredients that are cooked to order. The restaurant\'s modern kitchen enables the provision of consistently first class quality food in supremely comfortable surroundings.
|
|
|
| |
|
| Year
Business was Established: 2002 |
| |
|
| Number of Employees:
2FT/1PT |
|
| |
|
| Facilities / Terms of Lease:
Leasehold with 12 years left on current let. The premises comprises approximately 600 sq ft of Restaurant space, including food preparation area. There is seating outside for around 10 covers. There are both male and female toilets downstairs, and a food storage area and office space. On the upper floors of the building there are 3 studio flats, and 4 double bed-rooms currently let.
The rent for the lease is circa £30,000. Rent is circa £6,500
Rent received from the upstairs property is also circa £30,000 |
|
| |
|
| Potential
Growth/Expansion:
N.A. |
|
| |
|
| Competition:
Situated in a very prominent location and having been established since 2002 this business has little need of advertising. There is a single free listing in the Yellow Pages. A direct marketing campaign including leaflets and a focused effort with the local press, might yield a new burst of trade, which can be capitalised on over the long term. |
|
| |
|
| Owner
willing to train:
The vendors are able to offer full support and training for a successful transfer to new owners. |
|
| |
|
| Reason for selling:
The vendors are a family partnership, who also own a similar respected restaurant in Kennington. They are looking to enjoy a more relaxed work life balance whilst earning their main income from the premises in Kennington. |
|
| |
|
Seller Reference Number: AC232
BusinessMart.com Listing Number: 71889 |
|
|
To request more information
on this business
please fill out the form shown right 
|
