Leasehold Classic English Restaurant In Salisbury Price Reduced For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £180,000 pa (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides classic English cuisine in extremely well presented and pleasant surroundings including the main restaurant area, conservatory and walled garden.

History
Phoenix Business Transfer Agents are delighted to place onto the market this classic English restaurant which has been established since 1996. The business has been in the hands of the current owner since 2002 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides classic English cuisine in extremely well presented and pleasant surroundings including the main restaurant area, conservatory and walled garden.

Staffing
The concern employs 2 full time and 3 part time staff. The wages are £60,000 pa.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business via local magazines, leaflet drops and emails and has a website.

Competition
As far as competition is concerned there are only three other independent restaurants in the town centre area.

Market
The client base consists of locals with good volumes of tourists.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Sunday and Monday trading.
• Increasing the services to include an afternoon tea and coffee room with pastries and cakes.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 20 years with 11 years remaining. The rent is £30,000 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £3,500

Leasehold rent:

£30,000 per annum

Location:

- Situated in the heart of the historic town centre of Salisbury in Wiltshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A36, A338, A30 and A354.
- Salisbury Cathedral, Amesbury, Andover and Winchester all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 1,000 sq ft (main restaurant), 600 sq ft (conservatory) and 1,400 sq ft (garden).. The front is branded with an attractive glass front. The main customer service area is wooden. It is very well presented and is very conveniently laid out.

The restaurant has 30 covers in the main restaurant, 45covers in conservatory and a further 40 covers in the garden. The customer service point is to the left. There are customer toilets.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Sunday and Monday trading.
• Increasing the services to include an afternoon tea and coffee room with pastries and cakes.
• Becoming more efficient with staffing levels.
• With an enhanced website

Competition / Market:

As far as competition is concerned there are only three other independent restaurants in the town centre area

Reasons for selling:

Other business interests

Trading hours:

Tuesday to Saturday 10.00am – 3.00pm then 6.00pm – 10.00pm
Sunday and Monday: Closed

Employees:

The concern employs 2 full time and 3 part time staff. The wages are £60,000 pa.

Years established:

16 Years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made

Furniture / Fixtures value:

£35,000 (included in the asking price)

Inventory / Stock value:

£1,000