Hilton Smythe is delighted to welcome to the market this well-established and popular Greek restaurant business, which is ideally located within the city of St Albans in Hertfordshire.
The business was originally established in 1974 and has been in our client’s careful ownership since 1994. Only now is the business being offered to the market, due to our client’s desire for a well-deserved retirement. The business currently operates 7 days per week and generates a turnover in the region of £500,000 per annum, with a gross profit of approximately 65%.
This family run restaurant offers a traditional Greek menu, catering for both daytime and evening diners, as well as catering for weddings, christenings, birthday, hen parties, Christmas parties and office groups. The property has a separate rear entrance, which is used for private parties of up to 100 guests, with a separate bar. When the restaurant is full to capacity, it can accommodate 200 diners.
There is an in-house DJ available at weekends, with themed entertainment and a disco until 1.00am. This is the only restaurant within the area to hold a licence until 1.00am. Our client also offers a takeaway service. The business has an excellent video posted on the popular website YouTube called ‘Anastasias Greek Restaurant St Albans’.
The restaurant boasts 94 sq. metres of floor space, with the main service, dining areas and commercial kitchen to the ground floor. To the first floor is four-bedroom accommodation with a large kitchen and bathroom. The second floor offers a one-bedroom self-contained flat.
The business has built up an excellent reputation within the area for the very high quality of the food and service offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.
We feel there is scope to increase the turnover by extending the opening hours, perhaps by offering Monday services. A new owner could also embark on a modest marketing campaign to highlight the excellent service offered. The business already has an excellent and informative website in place at www.anastasiasrestaurant.co.uk.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.
Anastasia’s Greek Restaurant occupies substantial three storey premises, ideally located within the city of St Albans in Hertfordshire. The business is situated on the busy St Peter’s Street and is surrounded by a wealth of complimentary shops and businesses, therefore, benefiting from a very high volume of footfall and passing trade. The business also benefits from good parking facilities within the immediate area.
St Albans is a unique English Cathedral city, with a colourful history, which can be seen in the Roman remains and the beautiful medieval architecture. The city has excellent shopping facilities with many independent shops amongst the high street stores, as well as excellent eating and drinking establishments. According to the 2011 census, the city has a residential population of 57,795.
The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. St Albans City railway station is less than one mile away. The area is also well served by the A-roads, with both the A1081 and A1057 being within close proximity, which link to the national A-road and motorway networks. Hemel Hempstead is approximately 6 miles away and the City of London is 25 miles away.
Substantial three storey premises in an Ideal trading location, briefly comprising:
Ground floor with:
Main restaurant, split into three areas with front bar serveries.
Rear dining area catering for up to 100 guests, also used as an overflow to the main restaurant.
Drink preparation area.
Commercial kitchen with:
Double stainless steel sink unit.
Stainless steel salad preparation refrigerator.
6 x ring gas cooker.
Deep fat fryer.
3 x microwave ovens.
Stainless steel preparation unit.
Upright refrigerator and freezer.
Large extraction unit.
Storage rooms with:
Walk-in vegetable chiller unit.
Walk in meat chiller unit.
2 x ice machines.
4 x bedrooms.
1 x bedroom self-contained flat.
Parking in adjacent streets.
We are advised Leasehold:
Original lease length: 24 years
Remaining lease length: 5 years, as of October 2016
Rent: £24,000 per annum
The business is open:
Tuesday – Sunday: 12.00pm – 2.00pm and 6.00pm - Late
The business is owner run and managed with 16 x part-time staff members.
The business generates a turnover in the region of £500,000 per annum, with a gross profit of approximately 65%.
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