Restaurants for sale in Workington

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TAPAS RESTAURANT IN WORKINGTON, CUMBRIA

Workington, Cumbria, England

  • Freehold Price: £229,950
  • Leasehold Price: £99,950
  • Annual Turnover: £216,000
Seller Reference: MA1234
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Business Description
 
 
 
 
 
 
 
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Seller Reference: MA1234
Request Details
Business Description
• Popular fully licensed restaurant with 66 covers
• Trading under Tapas style having been established in 2011
• Excellent location in centre of major west Cumbrian town
• Healthy turnover on five nights trading
• Good opportunity to buy established business
• Either freehold or leasehold

Overview
Flavour is a popular, trendy street tapas eatery and fully licenced Bar, specialising in fresh larger than average funky Tapas, large selection of gins, cocktails, wines and premium beers.

Flavour is situated in a prominent position within the town centre Established in 2011 by current owners and draws custom from Cumbria and afar. Currently rated no 1 on TripAdvisor in the area, received Certificate of Excellence for 7 consecutive years with TripAdvisor Travellers choice award this year making it in top 10% restaurants worldwide.

Flavour currently only operates limited evening hours, Wednesday to Saturday, with 2 full time staff, 6 part time and the two proprietors and has also developed a takeaway service in response to the Covid 19 pandemic. Further development of the business hours would further enhance the already healthy profits. Turnover for the year ended 31 October 2019 was £216,050 net of VAT. Full accounts will be made available to bona fide applicants after viewing. The current owners are looking to semi retire.

Location
Workington is one of the main commercial centres on the west coast of Cumbria with steelworks, manufacturing, docks, industrial areas’ a shopping centre and has a population of around 25,000. It lies about 35 miles west of junction 40 of the M6 motorway via the A66 and 30 miles from Carlisle via the A595 and A596. The business is situated fronting Washington Street opposite the Washington Central Hotel and Washington Square Shopping Centre in the town centre.

Accommodation
Ground Floor
Restaurant in interconnected open areas with tables and chairs to seat 30 covers, eclectic range of Spanish style décor including rough wood panelling, bar servery and private dining area with additional 6 covers.
Disabled WC.
Catering Kitchen with stainless steel units, hygienic pvc wall cover, stainless steel sink unit, fridges, freezers, hotplates, sald bar, deep fate fryers, griddles etc (a full inventory of kitchen equipment to be provided).

First Floor
Dining Area for an additional 30 covers.
Ladies and Gents toilets.

All references to areas and dimensions are deemed to be approximate.

Services
We are advised that mains water, electricity, gas and drainage are connected to the property. No warranty is given regarding the working order of any appliances or services referred to in these particulars.

Tenure
The business is offered for sale on the basis of either a freehold sale of the property or the sale of the business and a new lease of the property being granted to the buyer.

The lease would be on full repairing and insuring terms for 10 years at an initial rent of £15,000 per annum exclusive, subject to review every 3 years.

Costs
The ingoing tenant will be expected to pay the landlord’s reasonable legal costs in connection with a lease. Each party will bear it’s own costs in connection with the transfer of the business.

Rates
Description in list: Restaurant & Premises
Rateable Value: £11,000

The property qualifies for 100% small business rates relief.

Fixtures & Fittings
Included in the sale is an inventory of trade fixtures, fittings, equipment and furnishings. Any items not included in these particulars or the inventory are excluded. Stock will be valued separately and taken on completion.

Planning
Prospective purchasers or tenants should satisfy themselves that their proposed use complies with all planning regulations by making inquiries with the local planning authority.

Vat & Stamp Duty
All reference to price, premium or rent are deemed to be exclusive of VAT unless expressly stated otherwise. Stamp duty is liable at the prevailing rates.
Tenure:
Leasehold, Freehold
Leasehold Term:
10 years
Listed by:
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