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8985SG HERTFORDSHIRE LEASEHOLD: £110,000 RESTAURANT

Asking Price: GBP 110000
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Business Location: United Kingdom » Herefordshire » HERTFORDSHIRE 
Category: Food » Cafes & Restaurants
Description:
Advent Business Sales are pleased to have
been instructed to offer to the market this
extremely well established and popular
upmarket restaurant.
Originally established over 400 years ago,
this grade II listed restaurant has been in
the careful hands of the current vendors for
almost 8 years and is only now being offered
for sale as they wish to retire.
Our clients have achieved an enviable local
reputation and have many loyal and regular
customers who, attracted by the quality fare
and the cosy intimate atmosphere created by
the exposed brickwork and original timber
beams.
The restaurant has 42 covers inside the
restaurant, with a further 12 available in
the fully enclosed rear garden area. They
offer a good menu selection as well as a wide
choice of over 40 different wines from
around the world but focused predominately
on French, Italian and Spanish.
The restaurant employs 2 part time members
of staff, who work on average 23 hours per
week each and our 2 clients, who both work
full time.
We are advised that stock at cost is
approximately £3,000.
REF: 8985SG
TRADING HOURS
Mon: 7pm to close
Tues-Sat: 12 – 3pm &
7pm to close
Sun: 12 – 3pm
EXPANSION POTENTIAL
Our clients have an excellent and successful
restaurant, which we feel would benefit
from advertising in the local press or radio.
They could also open on Monday lunch times
and Sunday evenings. Offer a budget lunch
time menu and have pavement ‘al fresco’
dining at lunchtimes.
FINANCIAL INFORMATION
We have been advised by the vendor of the
following:
Annual sales: £133,537
Gross Profit: £68,255
Accounts will be made available to
interested parties after a viewing has taken
place.
Please let us know if you require finance for
the purchase of a business.
BUSINESS PREMISES
The restaurant and private living
accommodation is decorated throughout to a
very good standard and briefly consists of
the following:
Ground Floor
• 2 side bay windows with a central
door opening into the main
restaurant with 42 covers
• exposed original 400 year old wall
beams
• 2 storage cupboards
• cellar door down to dry goods
storage area
• rear kitchen with 5 burner cast iron
cooker, single deep fat fryer,
salamander, 2 hot cupboards,
industrial microwave, 2 upright
fridges and 1 upright freezer, bain
marie, dish washer, as gas and
electric oven, stainless steel sink and
work units with a stainless
extraction unit
• Side door to enclosed rear garden
with 12 covers
• Shed with walk in cold room, chest
freezer and w/c
Upper Floors
• 2 double bedrooms
• single bedroom/office
• Lounge
• Galley kitchen with gas hob,
fridge/freezer
• Bathroom with shower and w/c
• Linen cupboard
• Male & female w/c’s
• Laundry room with fire escape to
back garden.
TENURE: Leasehold
Original lease: 25 years
Remaining lease: 19 years
Review every: 3 years
Rent: £20,000 P.A.
We are advised that the annual business
rates are currently: £3,880
VIEWING
Please DO NOT approach the business or its
employees without a prior appointment.
All appointments are to be made via our
office.
 
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Financial Information:  
Annual gross sales: (GBP) 133537
Yearly Revenue: (GBP)
Total yearly sales revenue		 N/A
Net Profit: (GBP)
Total profit before taxes		 N/A
General Information:  
Business Area:
Year Established: 2000
Is Relocatable?:
 No
Business closed or an asset sale : No
Is Home based business?: No
Real estate status: No
Number of Employees: employs 2 part timer
No of trading hours: Mon: 7pm to close Tues-Sat: 12 – 3pm & 7pm to close Sun: 12 – 3pm
Reasons for selling:
 now being offered for sale as they wish to retire.
Market competition and expansion:
 Our clients have an excellent and successful restaurant, which we feel would benefit from advertising in the local press or radio. They could also open on Monday lunch times and Sunday evenings. Offer a budget lunch time menu and have pavement ‘al fresco’ dining at lunchtimes.
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