Hilton Smythe welcomes to the market Corner 124.
The business was originally established in 1995 and was taken over by our client in 2002. The owner is now looking to sell the business, due to the desire to focus on other business interests.
Corner 124 is a Mediterranean bistro. They offer a variety of dishes, pan fried seabass, seafood risotto, tiger prawns and smoked mackerel fillets, to name a few.
This is a popular restaurant that received a large amount of repeat loyal trade. The restaurant thrives off word of mouth recommendations.
The business is currently generating a turnover of £271,832 as of 2018 accounts, with a gross profit of 43%. This is an excellent turnover which could also be increased.
The new owner could look to offer a takeout option, this could be advertised on sites such as JustEat., This could be a great asset to the business.
The business has excellent reviews on TripAdvisor from over 350 happy customers.
The business also has a website. This could be updated more often with new products, promotions and offers. Social media is a great way of attracting new custom.
Included in the sale is a one-bedroom owner’s accommodation. This would be perfect for a young family, looking to relocate to this beautiful town.
This is a fantastic opportunity that is not to be missed.
Hilton Smythe highly advise early viewing to take in the full potential of the trade.Location
The business is situated in the beautiful town of Kendal within the Lake District.
Ideally situated on a corner just off the main high street.
The restaurant is easily accessible to trade. There are excellent parking facilities around, with several car parks close by.
Kendal is a popular tourist town with much to see and do. The town hosts monthly farmers markets and has several places to visit such as Kendal Castle, Kendal Museum, Kendal Dry Ski Slope and the Quaker Tapestry.
This is a great town to live and work.
Corner 124 is set on a main arterial road in Kendal. The A6 connects to the M6 motorway at Hardendale.
This is a prime trading location with great road connections and generous public transport. There is a bus stop within a short walking distance, this has regular routes into surrounding towns.
Kendal also has its own train station, this is a short 10 minute walk away.Premises
The premises boast a corner property on a main high street.
The business is multi-fronted with two windows, this allows for a bright and airy retail space.
The property is well-signed, the sign runs around the property just above the windows.
The restaurant is open plan, set across two areas, one of which is raised.
There are 34 covers altogether, all the tables and chairs are matching.
The room has laminated flooring and white walls. Our client has kept most of the original features including stone fireplaces.
There is a corner position bar with the following equipment-
• Barista coffee machine,
• bean grinder,
• card machine,
• new epos till system.
The customer toilet is to the back of the seating area. There is a lady and gents’ toilet with a WC and sink in both.
Kitchen: The kitchen is through to the rear of the property. This is fully equipped, perfect for the trade.
Kitchen equipment is as follows:
• 2 x 6 ring gas burners
• Gas oven Range
• Extractor fan
• Pots & pans
• 2 x tall fridges
• Ice cream freezer
• Large stainless steel wash up sinks
• Fly zapper
• Plate warmer
There is an office, this has a desk with computer.
There is also a store room with three fridge freezers and three chest freezers. Further through there is another room with a washing machine, dryer and more storage.
On the first floor of the property there is a one bedroom owner’s accommodation. This living area includes a lounge, two bathrooms (one with a shower and the other with a freestanding bath) and double bedroom. These are all great sized rooms.Tenure
We are advised the business is being sold as a Leasehold opportunity.
Original lease length: 15 years Remaining lease length: 7 years as of 2019.
Rent: £18,000 per annumHours
The business is open all evenings from 5:30pm onwards and on Saturdays the bistro is open lunch times 12pm – 1:45pm.Staff
The business is run and managed by our clients, with the help of 15 part time members of staff.Financial Profile
The business generates a turnover in the region of £271,832 as of 2018 accounts.
Gross profit 43%