Landmark Restaurant In Lower South Coast For Sale

Business description

This is an upmarket family restaurant that has been established for approximately 45 years in a well known central location on the Lower South Coast, that is easily accessible with safe and secure parking.

This restaurant is also well known for its traditional Sunday lunches which are always fully booked. The owner is selling both the business and the property as a combined deal.

A potential buyer can purchase the business initially, but must purchase the property within 12 months.

Property information

Location:

South Africa - Kwazulu Natal - Lower south Coast

Premises details:

The owner of the business owns the property by way of sectional title and is selling both the business and property, as a going concern for R1,199,000, excluding stock of approximately R30,000. The total area is 467sqm together with 4 workers rooms and associated toilets. The business owner has installed an industrial 74kw diesel generator to the value of R75 000, which runs all the air conditioning, fridges and electrical appliances.

Size in square feet:

467

Business Operation

Expansion potential:

A new, possibly younger owner is needed to build upon by way of more aggressive marketing, PR and other such methods.

Competition / Market:

There is competition in the area which comes and goes but this restaurant has stood the test of time.

Reasons for selling:

Owners want to retire

Trading hours:

Tuesday to Sunday Lunch and Dinner, but no lunch on Saturdays

Employees:

7

Years established:

45

Other information

Support & training:

The owner will provide support and training

Furniture / Fixtures value:

R300,000 (included in the asking price)

Inventory / Stock value:

R30,000