Italian Restaurants for sale

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Long Established & Highly Profitable Restaurant in Greenock

  • Freehold Price: £375,000
  • Leasehold Price: OFFERS CONSIDERED
  • Annual Turnover: £579,899
  • Annual Gross Profit: £428,478
  • Annual Net Profit: £143,000
Seller Reference: Arlecchino
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Business Description
 
 
 
 
 
 
 
 
 
 
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Seller Reference: Arlecchino
Request Details
Business Description
Arlecchino
68 West Blackhall Street, Greenock, PA15 1XG

• Long established Italian Restaurant & Takeaway
• Been in the same family since 1926
• Prominent trading position within heart of town centre
• Deceptively large property. 206 SqM (2,218 SqFt)
• 80 cover restaurant & separate takeaway
• 2019 sales £579,899 net of VAT
• Adjusted net profit circa £143,000

LOCATION
The subjects benefit from a prime trading position on West Blackhall Street, close to its junctions with Laird Street and Argyle Street, in the heart of Greenock town centre, which lies within Inverclyde, Scotland.
West Blackhall Street is the main retail and licensed thoroughfare in Greenock with a good mix of local and national operators. Surrounding retail operators include Bank of Scotland, Slater Hogg, Clydesdale Bank, Paddy Power, Cash Generator and Co Op Funeralcare, and nearby licensed operators include Fenwick 47 and The Black Cat.
The subjects also benefit from their close proximity to the Oak Mall Shopping Centre which is home to many of the largest high street retailers including Primark, Argos, M & Co, Boots and JD Sports.
Greenock is one of the largest towns on the west coast of Scotland and is located on the south bank of The River Clyde where it expands into the Firth of Clyde, approximately 25 miles west of Glasgow which is easily accessed via the A8 and M8 motorway.
The town has a population of around 45,000 people, but benefits from the neighbouring towns of Gourock and Port Glasgow, giving a catchment population of around 110,000 people.

THE PROPERTY
The subjects form part of a retail parade comprising part ground floor of this 4-storey tenement style property, which have been extended to the rear with single storey extensions.

DESCRIPTION
The subjects are accessed directly from West Blackhall Street with two entrances in the frontage leading to the takeaway on the right-hand side and the restaurant on the left-hand side.
The takeaway area is positioned at the front of the premises, with a small waiting area and a serve over counter. To the rear of the counter is the till system, drinks fridge and ice cream freezer as well as shelving displaying a range of soft drinks and confectionary. There is a separate fully equipped takeaway kitchen with a range of equipment including double fryer, griddle, 4-pan bain marie and coffee machine.
The restaurant is split into 2 separate seating areas. The front section which is also home to the bar area can seat approximately 20 customers by way of loose tables and chairs.
The rear seating area is positioned within the rear extension and benefits from stunning high ceilings as well as a central glass roof section. This area can accommodate approximately 50 covers by way of loose tables and chairs.

ANCILLARY AREAS
• Large fully fitted catering kitchen
• Separate dishwash area
• Walk in chill
• Male & female toilets
• Office
• Staff toilet
• Drystore & ancillary store rooms
• External potato store & prep area

SIZE
We understand that the subjects have a gross internal area of approximately 206 SqM (2,218 SqFt).

THE BUSINESS
Our client’s family have owned and operated these premises since 1926, when it opened as Mazzoni Café, and was then changed to Arlecchino (Italian for Harlequin) in 1966, which it has traded as ever since. The business is therefore extremely long established and is something of an institution within the town.
The business benefits from a loyal and regular clientele, predominantly from Greenock and the surrounding areas, although does also attract people from further afield, as well as benefitting from passers by and shoppers in the area.
Arlecchino enjoys a strong reputation for its food and service, and trades as a traditional Italian restaurant offering an extensive menu with a tremendous selection of pizzas, pastas, meats, fish, burgers and salads etc, as well as offering a good vegetarian/vegan menu and lighter brunch and lunch offerings. The takeaway serves everything from the full menu but also does a good range of filled rolls, baked potatoes, sandwiches and toasties etc, as well as hot and cold drinks and ice creams.
It is felt that the sale represents a tremendous opportunity for a new owner operator to take on this much loved and extremely well performing business which still offers areas of growth. The business currently closes on a Monday and also does not operate any kind of delivery service, which is an area that offers real growth potential.

Tenure:
Leasehold
Location Details:
The subjects benefit from a prime trading position on West Blackhall Street, close to its junctions with Laird Street and Argyle Street, in the heart of Greenock town centre, which lies within Inverclyde, Scotland.
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