Japanese Teppanyaki Restaurant and Bar Located In The Arcadian Birmingham
Leasehold A3 Consent
This outstanding Restaurant and Bar is located in The Arcadian, Birmingham. Just a short walk from New Street Train Station, Grand Central Station, The Bull Ring Shopping Centre, Hippodrome, and is among the bustling streets of Chinatown. Nearby you have the old wholesale market which will be the new Smithfield project which is an exciting £500 million pound development which will bring high levels of footfall to the area. The Arcadian is full of culture and diversity and is vibrant at night with the array of bars and restaurants on offer.
Asking Price: £135,000 plus SAV (£7,000)
Turnover: £446,603 net of VAT pa
Veritas Business Sales are delighted to offer for sale this established and well respected Teppanyaki Restaurant and Bar which is located in Birmingham City centre. The business opened its doors in 1992 being the first Japanese restaurant in Birmingham and has been in the careful hands of my clients for the past 15 years. The business is being offered for sale due to the owner wishing to relocate. Since ownership they have kept the property in good order and have continually invested in new equipment along with fixtures and fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Miyako Teppanyaki is overseen by the owner but operated with a team of 4 full time and 7 part time committed members of staff and has an annual turnover of £446,603 net of vat with a GP of £328,475 (74%). The restaurant serves a fine range of Teppanyaki, appetizers, sushi and various beverages. All the hard work has been done so this is an ideal acquisition for an existing operator or would easily suit a new restauranteur looking to join the industry. We believe that there is further potential to increase what is already thriving business by expanding upon the current opening hours and by joining the on-line delivery portals such as Just Eat and Deliveroo to take this venue to the next level. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with a many new visitors to Birmingham. This is a superb opportunity to purchase an established restaurant and as such early viewing is highly recommended as this is not to be missed.
Monday - Sunday - 08.00am - 04.00am
Current Opening Hours
Monday - Friday - midday - 2.00pm
and - 5.30pm - 10.30pm
Saturday and Sunday - 5.00pm - 10.30pm
New lease available Term: 15 years Rent: £39,000 plus VAT Service charge: £14,000 pa Rates: £12,500 pa
Entrance door leading to customer seating area and bar with serve over bar, spirits display shelves, cash register, sink drainer, 2 x 2 door drinks fridges, single door dinks fridge and glass washer (Halcyon). Office with ice machine, wine storage racks and CCTV system. (60) cover Restaurant comprising: 6 Teppan stations with extraction canopies and 4 portable condiments trollies. CCTV room. Commercial kitchen comprising: 2 x stainless steel sink drainers, 2 x single door upright fridges, 2 x double door upright fridges, upright freezer, 2 x chest freezers, 6 burner range, large gas burner, various wall mounted storage shelves, extraction canopy, rice cooker, meat slicer, food processor, microwave and all the usual crockery and cutlery needed. Laundry room with washing machine (Futura) and dryer (Indesit). Ladies W/C, 2 wash basins, 2 x wall mounted soap dispensers and 2 paper towel dispensers. Gents W/C, 2 x urinals, wash basin, soap dispenser and wall mounted paper towel dispensers. Disabled W/C, hand rail, soap dispenser and wall mounted paper towel dispenser.
The property benefits from a music system and CCTV 9 camera system
EPC Rating C
The landlord's may consider a 50% rent reduction for the first 6 months. for the right applicants.