Restaurants for sale in Southampton

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Adam Warren (Jan 2017)
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Leasehold Price: £99,995 Price Reduced Turnover: £190,341 Gross Profit: £152,818
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Business Description
Business
Hilton Smythe welcomes to the market Manna Restaurant (Korean BBQ), established by our client in May 2016 and is now offered to market due to his other business interests in London.

The A3 licensed Restaurant comes with a full alcohol licence with the capacity to double its covers by using the outside piazza terrace area.

Previously a Brazilian Restaurant, the large open plan space could be utilised for any menu type, however our client’s introduction of a Korean BBQ has proven very successful with recent turnover achieving £200,000.

Our client offers a mouth watering choice of Korean starters, main courses and dishes to cook fresh at your own table with options to share as a group or enjoy on your own.

There is large bar which currently is been used to supply a basic choice of wines and beers, soft drinks to enjoy with your meal. Previously, the bar enjoyed a healthy walk in trade from customers looking for cocktails. Our client advises this missed opportunity could easily add a further £100,000 to current turnover levels.

Our client’s investment into the business and opportunity to expand could easily result in increased turnover to min £400,000. Our client missed the opportunity to use the outside terrace in previous summer months but this is now rectified.

Further opportunity to increase current sales would be to add deliveries through Deliveroo and Uber Eats, including a lunchtime buffet menu, new website and social media presence, extending the current opening hours.

Agreed handover will be offered.

Hilton Smythe recommend early viewing due to its sought after location and potential.

Location
Manna Restaurant (Korean BBQ) occupies a highly enviable position on the High Street in the centre of Southampton.

The Restaurant is placed central to major High Street retail chains, Banks, other branded restaurants including Costa Coffee which is next door.

There is multi million-pound investment in new housing within the city centre for both students and professionals. Southampton is renowned for its university and Seacity Museum and close proximity to the Solent.

The Restaurant is located directly behind the Westquay shopping centre. The towns main bus station and Southampton central main line station only 5 mins walk away.

There is 2 multi story car parks as well pay and display parking within 2 mins walk.

Premises
Front external terrace - agreed space for min of 32 covers.

Main restaurant - Min 60 covers, majority of tables are bespoke Korean BBQ tables.

Equipment included-
Open drinks chiller
6 x pan buffet unit
Wall mounted tv x 2
2 x arm semi automatic coffee machine and grinder
Music system
Stainless steel chiller
Dishwasher, ice machine
Triple glass fronted drinks chiller
Spirit storage shelving, handwash sink
Epos till and card machine
2 x points of free flow dispense
Stainless steel service trolley

Kitchen -
Large upright freezer, triple length fridge, 3 further fridge units, prep sinks, rice cooker x 2, microwaves, griddle, large extraction unit, 6 x ring gas burner stove, double gas fryer
Prep area - new fridge unit, storage racking, prep sinks, dishwasher.

Male and female toilets

Staff storage area and small stockroom with access to staff rear parking.

1st floor -
Further storeroom with storage racking, tall fridge, 4 x chest freezers.

Tenure
The business is offered on a Leasehold opportunity,
Original length of 12 years with 10 remaining.
Rent is £22,000 per year which is exceptionally good for this High Street.

Our client advises current business rates payable are £12,330.

Hours
Currently run to suit our client, the hours could easily be extended.
Sunday and Monday - closed.
Tuesday to Saturday 12-10.30pm

Staff
The business is run and managed by our client with the help of 2 full time and 3 part time members of staff only.

Financial Profile
Our client advises 2017 accounts show a turnover in the region of £200,000 with Gross Profit of £152,818 and adjusted net of £35,597.

Tenure: Leasehold

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04290
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