A Splendid Opportunity To Acquire This New Lease For Sale

Business description

A SPLENDID OPPORTUNITY TO ACQUIRE THIS NEW LEASE ON ONE OF MATLOCK’S LONGEST ESTABLISHED RESTAURANT, BISTO’S WITH AN ENVIABLE REPUTATION.


> Turnover for the year ending 2007 £391,303 inc V.A.T. with reconstituted net operating profits of £45,000.
> Ground floor restaurant and bar (42) covers Mezzanine level (26) covers.
> Large garden at rear leading down to the river ideal for conversion for alfresco dining.
> Further room for expansion in extensive callers leading out at rear into garden.
> Extremely well appointed owners apartment with two bedrooms bathroom and dinning kitchen.
> New private 15-year fully repairing free of tie lease fully landlord and tenant protected at a rent of £35,000 p.a.

GOOD RESTAURANTS WITH A LONG TRACK RECORD ARE HARD TO FIND. HERE WE HAVE A 21 YEAR HISTORY AND AMPLE ROOM FOR EXPANSION. OFFERED FOR SALE BY WAY OF A NEW 15-YEAR PRIVATE LEASE FREE OF TIE TO INCLUDE FIXTURES AND FITTINGS GOODWILL AT £125,000 PLUS S.A.V.



“Back page”
LOCATION (DE4 3LT)
Located on Dale road in the historic spa town of Matlock, a fine looking Georgian building with large glass frontage. It forms part of a parade of retail and restaurant businesses with a thriving cross section of retail and food led businesses. Matlock built originally as a spa adjoining Matlock Bath sits on the edge of the peak district national park, famous for Chatsworth house and estate home to the Dukes of Devonshire. Matlock itself has much to offer with restaurants, bars, café’s and antique shops, gift shops galore a Mecca for day tourists and local shoppers alike. Sitting within 12 miles of Chesterfield and 18 from Nottingham, 18 miles from Derby and 23 from Sheffield. This makes matlock an extremely busy place indeed and with an all year round trade.




PROPERTY DESCRIPTION
Built in the Georgian period it is a most striking property, built of local dressed stone over two stories with a slate roof. The property consists of a main restaurant and bar utilising the trading area of the bank for which it was previously used there is also a mezzanine level (26) with an office and the main area (42) is on the ground floor with ladies and gents w’c’s, the main catering kitchen fully equipped to a very high standard and various storage areas. In the basement are a large number of rooms having been used as vaults and stores even some office space covering over a thousand square feet in all and opening out to the rear garden, ideal for further development. The restaurant has been done out to a very high standard and is in the classic bistro style with black and white chequer board flooring, dining booths around the walls with loose seating in the centre and in the large picture window.


OWNERS ACCOMMODATION
The owner’s accommodation comprises of 2 good size bedrooms, a bathroom, kitchen and sitting room all are decorated and fitted out to the highest standard.

EXTERNALS

The front of the property leads immediately onto the pavement, whilst to the rear of the building is a large walled garden leading down to the river ideal for use as an alfresco dining area.

PREMISES LICENSES
We are advised that the business’s premises license allows for trading Monday through to Saturday 10am until 2 pm and 7pm until 10 pm closed Sundays and Monday lunchtime. A personal license will be required and our associates would be delighted to offer assistance in this respect.


TENURE
We are instructed to offer the business for sale by way of a new 15-year lease free of tie, fully renewable at no further premium with full Landlord & Tenant Act Protection from a private landlord at a rent of £35,000 p.a.

SERVICES
We are advised that the property benefits from mains services for electric and sewage and gas Central heating throughout. Rates payable are £4,682 p.a.

THE BUSINESS

Our clients having run the restaurant for the last 21 years with great success have decided to retire. The turnover for the last financial year 2007 was £391,303 Inc V.A.T. and previous years have seen higher turnover of £422,526 with reconstituted net operating profits of £77,000. They are now working toward their retirement and feel now is the time to handover to the next generation. There is room to expand the operation by a third by utilising the basement area and more given the garden demand is high and it is all day so there are more obvious areas to be exploited.


A LIFESTYLE BUSINESS FOR SOMEONE LOOKING FOR A GREAT RESTAURANT TO OWN AND RUN ALSO IDEAL FOR A SITE FOR MULITIPLE OPERATORS TO CHANGE FOR THEIR OWN BRAND WITH A TOTAL OF 3,000 SQUARE FEET TO WORK WITH AND THAT WONDERFUL GARDEN TO THE REAR.

Property information

Property:

Leasehold

Contact the seller