Restaurants for sale in Hull

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Two Restaurants - East Riding Of Yorkshire

Hull, East Yorkshire, England

  • Leasehold Price: £2,000,000
  • Annual Turnover: £636,870
  • Annual Gross Profit: £448,252
Seller Reference: 7129
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Business Description
 
 
 
 
 
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Seller Reference: 7129
Request Details
Business Description
Two Prominent Trading Positions
Profit & Loss Available Year End 31st July 2019
Annual Turnover £636,870
Gross Profit £448,252
Accounts Available After Viewing
Winner Of Michelin Plate & Yorkshire Food Award
World Renowned Chef
Experienced Manager In Place
Retirement Sale
80% Corporate 20% Public Walk-Ins
Takeaways Offered Via 5 Platforms
Superb Online Reviews
Large Free Car Park
Could Suit Any Cuisine
Scope For Breakfast Opening
Well Established Catering Business
EPC - TBC
REF 7129 – Two Leasehold Restaurants

Blacks Brokers are pleased to bring to the market these two leasehold restaurants located within the Hull area of East Riding Of Yorkshire.

INTRODUCTION

Tapasya (Chowki) was established by our client in the Newland area of Hull in 2013. Due to expansion, our client then opened Tapasya @ Marina in this stunning marina area of Humber Docks and the fruit market area in 2016. Both restaurants have become very well known in this area with a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to both restaurants occupying excellent trading positions. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google, Trip Advisor, Facebook and JustEat. Both restaurants havve comprehensive websites in place and hygiene ratings of five stars.

LOCATION

Tapasya @ Marina is located on the quayside of the marina/docks in a vibrant and affluent area which is currently undergoing much regeneration. Tapasya (Chowki) is located in a busy and affluent area of Kingston upon Hull. This is again a vibrant area largely populated by professional, post graduates and students. Both sites are surrounded by a combination of independent retailers and large multiples with Hull centre nearby. The area of Hull is well linked by the M62 and A63 with very strong public transport links and parking is available in the surrounding area at both sites.

REASON FOR SALE

The restaurants are ideally suited to a hands-on owner-operator but due to our client’s retirement, they are now offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

The building are both available on Full Repair and Insure leases (FRI lease). This is the most common form of commercial lease. For Tapasya @ Marina, the current lease is a twenty year lease which began in 2016 at a cost of £480 per week and Tapasya (Chowki) has a fifteen year lease which began in 2013, again at a cost of £480 per week.

STAFF

The business operates with thirty five members of staff at the marina location and nine members of staff at Chowki. Our client splits his time between each business equally and oversee's the day to day running.

FINANCIAL DETAILS

Both restaurants have traded solidly since opening and our client has established a strong repeat customer base. We are advised that the restaurants have a combined annual turnover of £636,870 with a gross profit of £448,252. Full financial information is available upon request.

SUMMARY

These two well established restaurants both occupy an enviable trading positions in affluent areas of Hull. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of breakfast opening along with the expansion of the current catering business in place. 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:
All kitchen appliances

Ovens

Hobs

Clay oven

Dishwasher

Fridges

Freezers

Chandeliers

Ornaments

Mirrors

Pictures

Tables

Chairs
Trading hours:
Mon - Sat - 12pm - 10:30pm
Sun - 12pm - 8pm
Tenure:
Leasehold
Is accommodation included?:
BUILDING LAYOUT AND DESIGN

Tapaysa @ Marina

The business operates from a huge triple fronted building with stained glass windows that run from the ground floor to the first floor. There are three impressive apex windows on the roof emphasising the size of the restaurant. The business has large branding and signage displayed to the front of this stunning building. Inside, the restaurant offers seating for 178 including 11 at the chefs table. In the finer months, seating for 30 is set up to the front. The interior is well designed and stylish decor featuring a bar area, free standing tables and chairs, wine displays, and a stainless steel feature chefs table. There is an impressive glass and steel staircase leading to the first floor with a further dining area, this also leads to the private dining area used for VIPs and corporate events. The kitchen is positioned within the ground floor and is fully and professionally equipped. All areas are finished to exacting standards with high quality fixtures and fittings.

Tapasya (Chowki)

This restaurant operates from a large glass fronted property with outside seating in a designated terrace area. The business has large branding and signage on display above the main entrance. Inside, there is a welcoming reception and cloakroom area followed by an impressive bar with water feature. As with the marina location, our client has created a private hire event room. There is a main dining area with décor is stylish and well designed with wine cases and a large open planned entrance. To the rear is an open plan, fully equipped kitchen. This restaurant benefits from a large car park.

Location Details:
Kingston Upon Hull
Leasehold Term:
£480 Per Week
Listed by:
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