Adams & Co - Business Transfer Agent, Business For Sale UK

£175,000 / ITALIAN RESTAURANT, Lake District / ref: NW010376

Full particulars.

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FULL PARTICULARS

LOCATION
Adams and Co. are delighted to offer for sale this rare opportunity to purchase an exceptional Italian Restaurant located in the centre of the Lake District.

THE PROPERTY
An attractive two storey property (c1640sq.ft) situated in the centre of town, comprising ground floor premises having spacious dining area, fully fitted commercial kitchen with wash area, bar/reception area with front sun terrace, and lower ground floor having customers WC's, beer cellar and stores. The owners spared no expense when refurbishing the premises in 2007 and installed new wiring, fire alarm system, and brand new fixtures, fittings and equipment. The business has also been tastefully decorated and modernised throughout offering a truly exceptional turnkey operation.

BUSINESS PREMISES
Attractive premises in the centre of town having raised sun terrace with illuminated parasol and signage. Entrance door to the ground floor restaurant area having contemporary interior which has been fitted to a very high standard throughout including high quality Karndeen wood effect laminate flooring and feature lighting with ceiling fans, complimented by modern furniture. The front hallway incorporates a small reception desk, and doorway to the reception / bar area providing c12 covers. The well fitted bar area has L-shaped bar with granite worktop and spotlights, feature etched glass panels overlooking kitchen, two drinks chillers, two pumps, Nero Visacreme coffee machine, ice maker and handwash basin. Double patio doors lead out onto the sun terrace providing a further 30 covers and having illuminated sign written parasol and attractive planted borders.

RESTAURANT
Beautifully presented dining area having extremely high quality Karndeen wood effect laminate flooring, wooden window shutters, feature brick walls and decorative alcoves, ceiling fans and spotlight fitments. Spaciously arranged to easily accommodate 55covers and having solid wood tables and leather chairs. Serving area with granite worktop.

KITCHEN
Fully fitted open plan commercial kitchen having tiled flooring and spotlights. Excellent range of equipment including feature brick built Wood Burning Pizza Oven, 6-ring gas range, refrigerated cupboard with make table, Dough maker, Hot cupboard, Twin fryers and s/s extraction system.

Rear wash area having s/s Electrolux commercial dishwasher and s/s sink with wand.

Staircase from the hallway leading down to the Lower Ground Floor. Fully tiled Ladies and Gents WC. Storage cupboard. Wine and Beer cellar leading round to Dry Store Room having a range of fridges and freezers. Wood Store. External door to rear service road.

BUSINESS
This superbly appointed business has been established as an authentic Italian restaurant for c22yrs and is brought to the market due to our client's wish to pursue other business interests. The premises have central heating and fire alarm system. The business has built up an excellent reputation in the area and enjoys much repeat custom and word of mouth recommendations. The restaurant serves authentic Italian cuisine, and the owners cook everything on the premises, using fresh local produce. This is a rare opportunity to acquire an exceptionally well appointed and equipped business in an idyllic location. With a solid reputation already established there is opportunity for a hands own operator to maximise the potential, or scope for the business to be run under management.

While there is competition from other dining establishments in the locality, the Vendors benefit from being the only Italian Restaurant in the town.

TRADE
Net Sales for year ending 30th March 2011 of £336,667, with a gross profit of £212,189, leading to excellent net profits. Accounts will be made available to seriously interested parties following a formal viewing.

HOURS
Tuesday to Saturday 5.30pm to 10pm
Sunday and Monday CLOSED (except bank holidays)

The business opens 6 days from June to Sept to take advantage of the summer season. The restaurant is licensed until midnight and there is obvious scope to introduce a lunchtime menu and/or open Sunday and Monday. The vendors also choose to close the restaurant for 3-4 weeks in November.

STAFF
The two vendors run the business and employ a full time manageress, two full time kitchen staff, two full time front of house, and several part time members of staff.

TENURE
Leasehold. New FRI lease available. Term TBA. Rent £30,000 per annum.

SERVICES
We understand from the vendor that all main services are connected to the property.

BUSINESS RATES
Rates payable c£6965pa (shown on the accounts).

COMMENTS
An exceptional and rare opportunity in an outstanding location. Early viewing essential to fully appreciate.

LEGAL FEES
Vendors and Buyers each to meet their own legal costs.

LOCAL AUTHORITY
South Lakeland District Council.

APPOINTMENT TO VIEW

UNDER NO CIRCUMSTANCES SHOULD YOU APPROACH THE BUSINESS DIRECTLY

We will be pleased to make arrangements for you to view the property and business. All viewings must be by appointment, which we will arrange, following a brief discussion as to the potential buyers' financial position and their ability to proceed.

You are advised to check the availability of this business before travelling any distance to view.

ALL NEGOTIATIONS MUST BE THROUGH THIS OFFICE

FINANCE
Finance for this business is available through Adams and Co (Finance). Please call this office for more details. Please remember that all loans are subject to status and survey.

THE PROPERTY MISDESCRIPTIONS ACT 1991
The information contained herein relating to property matters was checked by Adams and Co, and was accurate at the time these particulars were originally produced. The particulars have been approved by the vendor, who has undertaken to advise us of any material changes which may occur. Such amendments have been incorporated as and where appropriate. However, since it is possible that further changes have occurred, of which we are unaware, we would recommend that prospective buyers take appropriate precautions to check anything, which is critical to their interest in this property.

Every effort has been made to ensure that the information, which does not relate to the property, (and is therefore not covered by the Property Misdescriptions Act 1991) is accurate. The vendor, who has approved the information detailed, has provided the data. However, as all businesses are constantly changing, the information contained in the sales particulars may not be as up to date as we might wish. Prospective purchasers are therefore advised to check the current trading situation at the time of inspection or, if necessary we can arrange for potential buyers to speak to the vendors by telephone, prior to making a commitment to view the business.

Adams and Co have not tested any apparatus, equipment, fixtures and fittings, or services and so cannot verify they are in working order or fit for the purpose. Buyers are advised to obtain verification from their Solicitor or Surveyor. Purchasers must satisfy themselves as to their actual condition prior to purchase.

References to the Tenure of a Property are based on information supplied to Adams and Co by the vendor. Adams and Co has not had sight of the title documents. Buyers are advised to obtain verification from their solicitor.

All measurements are approximate and intended for general guidance only and should therefore be considered to be 'nominal'.