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8947NG NOTTINGHAMSHIRE LEASEHOLD: £69,500 WINE BAR/ITALIAN RESTAURANT

Asking Price: GBP 79500
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Business Location: United Kingdom » Nottinghamshire » NOTTINGHAMSHIRE 
Category: Leisure » Bars & Nightclubs
Description:
Advent Business Sales are pleased to offer
for sale this popular wine bar and Italian
restaurant.
Established 4 years ago and with current
ownership since 2006, the business has
reluctantly been offered for sale as the
vendors have a strong desire to emigrate.
This well appointed restaurant has the
capacity for 30 covers inside with further
space outside in the courtyard, which has
currently not been utilised to its full
potential.
The menu includes a wide range of
traditional and authentic Italian cuisine,
which is all freshly prepared on the premises.
The menu caters well for vegetarians and for
those who have a specific dietary
requirement.
The business trades predominantly in the
evenings, however, extended hours can be
arranged for private parties and functions.
The premises are maintained to a high
standard.
To further increase trade and awareness,
charity events and dinners are organised
which attracts regular customers.
A full time chef and part time employees as
well as interjection from the vendor staff the
business.
The setting is quite unique, as the restaurant
is cellar level with entrance from the ground
floor. This adds to the friendly mood and
creates a pleasant ambience.
REF: 8947NGBUSINESS PREMISES
Well appointed lower level restaurant with a town centre location and briefly consisting of the following:

Ground Floor
• Entrance
• Ladies and gents w/c’s
• Storage
• Door leading to courtyard
• Stairs to lower level restaurant
• Lounge area with comfortable seating and bar area fully stocked and free of tie
• Leading into 30 cover restaurant
• Fully equipped commercial kitchen

TENURE: Leasehold
Original lease: 10 years
Remaining lease: 6.5 years
Review every: 5 years
Rent: £9,500 per annum

We are advised that the annual business rates are currently: £670
 
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Financial Information:  
Annual gross sales: (GBP) 75000
Yearly Revenue: (GBP)
Total yearly sales revenue
N/A
Net Profit: (GBP)
Total profit before taxes
N/A
General Information:  
Business Area: Our client is ideally located in a prominent location in Newark town centre. The business is located next to a number of offices with several shops, businesses and the historic Newark castle within yards of the premises.
Year Established: 2006
Is Relocatable?:
No
Business closed or an asset sale : No
Is Home based business?: No
Real estate status: No
Number of Employees: 02 full time
No of trading hours: Mon & Tues: Closed Wed – Fri: 6.30pm – 9.30pm Sat – Sun: 12 noon – 3.30pm & 6.30pm – 9.30pm
Reasons for selling:
vendors have a strong desire to emigrate.
Market competition and expansion:
The premises is not limited in the type of food offered, it could easily accommodate a good quality Indian or Chinese restaurant. Alternatively, a number of usages such as a private members club or a coffee shop could prove beneficial for the area.
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