Retirement Sale
Accounts Available 30/09/17
Annual Turnover £182,662
Gross Profit £127,606
Established Over 40 Years
Seating Inside For 104 Customers in Total
Additional Outside Seating For 20
Fantastic TripAdvisor Reviews
5* Food Hygiene Rating
EPC - D
Blacks Brokers are pleased to present to the market this popular and well loved leasehold Italian Restaurant in Huddersfield.
INTRODUCTIONThis business is a high profile and busy Restaurant that has a trading history going back 40 years or so.
Situated in the town centre, the restaurant is well known throughout the local area and has a robust reputation within England’s largest town for providing authentic and honest Italian food. Consequently, TripAdvisor rates the Restaurant as 4.5/5 and rated 41 from 407 in local area.
The restaurant is therefore a popular venue for birthday parties and celebrations as well as providing a wonderful setting for mid week meals and lunches.
LOCATIONThe restaurant is situated close to the main bus station with the pedestrianised town centre shopping area also close by. Competition within the town is limited as the town centre has a large student population and provides plenty of bars serving food, generic independently owned restaurants are a scarcer resource.
There is ample parking nearby, whether it be NCP car parks or on street parking and the bus station and train station at both within a two minute walk.
REASON FOR SALE
The restaurant is owned by a father and son team. The Junior Partner runs the front of house and is now wanting to explore new business opportunities whilst the Senior Partner is now planning for retirement.
LEASE
A new 10 year fully repairing and insuring lease was signed in 2018 with an annual rent of £35,000 per annum with rent reviews every three years. The lease is covered by the 1954 Landlords and Tenants Act.
STAFF
Besides the two principles, there are three full-time staff, 2 of which work in the kitchen and three part-time staff
FINANCIAL DETAILS
Accounts of year ending 2017 show a turnover of approximately £170,000 and a gross profit of approximately £130,000.
Accounts distort the fact that busy periods can see turnover as high as £12,000 per week.
BUSINESS RATES
The business rates are currently £13,000 per annum.
SUMMARY
This is a high profile, landmark restaurant that is highly regarded and known throughout the local area.
The restaurant is known generically, an important factor for new owners and as the location and reputation is the draw for customers as opposed to personalities.Sales are capable of being developed by increasing the social media profile and by scrutinising accountancy practice. Owner operators who can capitalise and develop the existing menu and bring new enthusiasm will undoubtedly see sales rise dramatically upon their acquisition of this excellent Italian restaurant. Fixtures:
Fully Equipped Catering Kitchen
Pizza Ovens
Grill
Convection Ovens
8 Ring Hob
Microwave
Bain Maire
Fridges
Freezers
Trading hours:
MON - SAT: 11:30 - 22:30
SUN: CLOSED
Is accommodation included?:
This is a single story building occupying an elevated position. The elevated position allows for alfresco dining from the patio area and also literally lifts the profile of the Business. Frontage and signage is bold and striking and creates a holistic effect of a truly continental brasserie.
The property features a ground floor and basement floor, the ground floor is primarily the dining area which is split ostensibly into two areas, one area being a more casual dining area serviced by the impressive cocktail bar, the second being a more formal dining area which features a grand piano as a centerpiece which is utilised for atmosphere during evening service. In total the restaurant fields approximately 116 covers of which, 16 are alfresco and approximately 50 covers per area in the restaurant itself.
Décor is a mixture of continental rustic with a family orientation and metropolitan sophisticate.
To the rear of the dining area is a fully equipped catering kitchen whilst the basement floor presents staff and customer WC’s
Location Details:
Huddersfield
Leasehold Term:
£673 Per Week
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