Restaurants for sale in Wiltshire

View the "LICENSED CITY CENTRE RESTAURANT - Salisbury" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.

LICENSED CITY CENTRE RESTAURANT - Salisbury

Wiltshire, England

  • Leasehold Price: £195,000
Seller Reference: WW3042
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Business Description
Seller Reference: WW3042
Request Details
Business Description
• OCCUPYING A PRIME CORNER TRADING POSITION
• 56 INTERNAL AND UP TO 30 EXTERNAL COVERS
• BENEFITING FROM A FULL ON-LICENCE
• UNDER CURRENT OWNERSHIP SINCE 1993
• NEW AND SECURE LONG TERM LEASE AVAILABLE
• RARE CITY CENTRE OPPORTUNITY FOR MULTIPLE

LOCATION:
Confidential – Please see below

NB This is a confidential sale, of which the staff are unaware. Accordingly, the vendors ask that all enquiries be routed through Adams & Co please and on no account should a direct approach be made to the business.

BUSINESS:
Adams and Co have been instructed to pursue the confidential sale of this stunning licensed restaurant which occupies a prime corner trading position in the commercial heart of Salisbury city centre close to all amenities and visitor attractions. Superbly presented throughout, the premises, which benefit from a full on-licence, accommodate 56 internal covers with space for up to 30 external covers on a broad pavement terrace with significant foot flow throughout the day.

Available for the first time since 1993, this is a rare opportunity for an experienced operator to acquire a very well run business, which has been operated successfully under management for a number of years.

Alternatively, the premises would appear suitable for a multiple to secure a prime trading position alongside other national players.

More detailed information including location and financials will be released to interested parties upon completion of a form of confidentiality agreement and following an exchange with Adams & Co regarding background, reason for interest, financial position and ability to proceed.

Opportunities such as this are rare and enquiries are sought from serious buyers only given the confidential nature of the sale.

YEARS ESTABLISHED:
The business was originally established by the current owners in 1993.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
The business generates sales of over £300,000 pa whilst maintaining exceptional gross profit margins above 77% on a consistent basis, year on year.

The opportunity exists to extend opening hours in this location and to take greater advantage of the full on-licence. This licence enables the service of alcohol, as a pub would, without customers having to partake of ‘substantial food’. It is limited to waiter service but extends to the outside seating.

REASON FOR SALE:
The vendors, who have simply maintained a ‘steady hand on the tiller’ over recent years, now wish to retire from business altogether.

STAFF:
The business has been run under management for a number of years. The management team is experienced and multi-skilled and supported by one full-time and 2 part-time general assistants, together with casual staff as required.

OPENING HOURS:
Monday to Saturday: 8.30am to 5.00pm (or 7pm in high season)
Sunday: 10.00am to 4.00pm

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The attractive trading position, the restaurant dimensions and the high quality equipment, fixtures and fittings can properly be appreciated only by a full external and internal inspection. However, a copy of the sales particulars, including photographs, will be released to approved applicants as described above.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
None

OUTSIDE:
The vendor holds a licence for an unspecified number of external dining covers with there being space to accommodate tables and seating for up to 30 people between the front and side elevations.

There is no parking provision with the lease but the premises lie on the pedestrian route from the principal city centre car park.

LEASE TERMS:
The premises are held under a secure 25 year lease from 1993 which is scheduled to expire in November 2018. Rent of £42,000 pa is currently payable together with a service charge/contribution to building maintenance of £6,000 pa.

We understand that a new and secure long term lease will be made available to the buyer.

ENERGY PERFORMANCE RATING:
Rating 98, Band D
Tenure:
Leasehold
Listed by:
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