Restaurants for sale in Glossop

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Newly Fitted Restaurant - Glossop

Glossop, Derbyshire, England

  • Leasehold Price: £119,950
  • Annual Turnover: £400,000
  • Annual Gross Profit: £200,000
Seller Reference: 6786
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Business Description
 
 
 
 
 
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Seller Reference: 6786
Request Details
Business Description
Main Road Trading Position
Projected Annual Turnover £400,000
Projected Gross Profit £200,000
Accounts Available After Viewing
Opposite Glossop Train Station
Well Linked By M60 & M65
Close To Large Multiples
Ample Free Parking
Total Seating For 75
Excellent Online Reviews
Scope To Open Lunchtime
Could Suit Any Cuisine
EPC – D
REF 6786 – Leasehold Newly Fitted Turkish Restaurant

Blacks Brokers are pleased to bring to the market this leasehold restaurant located in the centre of Glossop, Derbyshire.

INTRODUCTION

The business of this nature has been trading on Norfolk Street since 2017. Our client established the business here due to the high amount of footfall generated by the busy surrounding area. The business is extremely well known and has a superb reputation with a large base of regular customers and excellent reviews are noted on Google, Trip Advisor, Facebook, Open Table and Just Eat. Olive & Gin was fully renovated in 2020 before opening and our client invested heavily in a range of high quality fixtures and fittings.

LOCATION

The business is positioned on a busy main road within a parade of shops and directly opposite Glossop Train Station. Neighbouring businesses include large multiples such as M&S Food and Travelodge as well as local independent retailers, eateries and offices. The area is well linked by the M67 with good public transport links and free roadside parking is available in the immediate vicinity.

REASON FOR SALE

The business is ideally suited to a hands-on owner-operator but due to our client’s other business commitments being higher than anticipated, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is fourteen years which began in 2018. The lease runs at a cost of £411 per week.

STAFF

The business is currently operating with twelve members of staff in employment supporting our client and partner working on a full time basis.

FINANCIAL DETAILS

Olive & Gin has traded well since opening. We are advised that the business currently has annual turnover of £400,000 and gross profit of £200,000. Full financial details are available upon viewing.

BUSINESS RATES

The business has a rateable value of £9,600. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business occupies a superb trading position on a busy main road. There is plenty of scope to develop the business further with new opening hours to include lunchtime. A delivery service could also be beneficial as this is in high demand in this area. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Fixtures:
Walk in Fridge

Washing Machine

Dryer

Bar (3 pumps)

Bar (2 pumps)

Coffee Machine x 2

CCTV

Till x 2

Under Counter Drinks Fridge x 7

Charcoal Grill

Meat Fridge

Stainless Steel Worktops

Bain Marie

6 Burner Cooker

Fryer

Microwave x 2

Mincer

Mixer

Pizza Oven

Starters Fridge

Freezer x 4

Commercial Fridge

Dishwasher

Fridge x 2

Starter Table With Storage

Wine Cooler

Sink x 2

Prep Table

Booths For Seating

Panasonic TV 50""

Air Conditioning

Plates & Cutlery etc.
Trading hours:
MON - SUN: 17:00 - 22:00
Tenure:
Leasehold
Is accommodation included?:
BUILDING LAYOUT AND DESIGN
Olive & Gin operates from the ground and first floor of a spacious, mid terraced property with fully glazed, double frontage. The business is well branded with large signage displayed above a central entrance. Inside, the ground floor space is used for the bar and bistro area with a range of freestanding tables and chairs as well as booth style seating, the seating area downstairs is for a total of 27. There are also toilet facilities and a stock room. The kitchen is professionally equipped and fitted with a range of equipment including a walk in fridge, charcoal grill, pizza oven and much more.

The first floor has a second seating area for 48 along with a second bar, second fully equipped kitchen, storage area and toilets. CCTV and air conditioning are fitted throughout. To the rear is an enclosed yard.

Location Details:
Glossop
Leasehold Term:
£411 Per Week
Listed by:
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