Leasehold Hotel & Restaurant For Sale

Business description

Bag a Business is delighted to offer for sale La Oliva Mediterranean restaurant with luxury en-suite letting rooms, which was established by our clients in 2004. The business is currently trading as a luxury hotel and Mediterranean restaurant, boasting a 60 cover high-quality restaurant and six en-suite letting rooms, which have been awarded 4 star AA status. Trade is mainly drawn from local businesses such as Westlands and Honeywell, along with commercial travellers and private customers who come from all over the country, such is La Oliva's reputation. Annual turnover is currently £200,000 - £220,000, achieved with the business being run at a pace to suit our client, who is now looking to take early retirement. We understand the landlord is keen to develop the site, with the addition of 10 further letting rooms and creating owners' accommodation, giving new owners a wonderful opportunity to expand on what is already an excellent business. La Oliva benefits from being free of tie and from having an outside terrace capable of seating up to 80. This is a unique opportunity to acquire a highly successful and acclaimed business that also provides new owners with vast scope for growth and as such early discussions are highly recommended.

Property information

Property:

Leasehold

Lease terms:

Leasehold - free of tie
New 20 year lease available
Review every: 5 years
Rent: £44,000 per annum

Living accommodation:

ACCOMMODATION DETAILS A substantial detached, stone built property benefiting from a high quality security system, WiFi to all bedrooms and very high quality fixtures and fittings. GROUND FLOOR Bar area and reception with seating for 10 Main restaurant area currently set up for 40, but can accommodate 60 for functions Fully fitted commercial kitchen Wash up area with dishwasher, washing machine, tumble dryer and 2 freezers Cellar restaurant currently set up for 20 FIRST FLOOR All rooms are equipped to a five-star standard with mini bars, WiFi and flat screen televisions. Five double en-suite bedrooms One single en-suite bedroom EXTERNAL Car park to one side for approximately 15 cars Front terrace area with seating for 80

Location:

La Oliva occupies a highly prominent and ideal trading location on Forest Hill, within the busy and vibrant town of Yeovil, in Somerset. Forest Hill is located on the outskirts of the town in a sought after residential area. The business also benefits from being situated very close to the area's main industrial estates and also the Westland helicopter factory. Yeovil is situated in South Somerset close to the Dorset border with a population of approximately 40,000 and enjoys excellent road links, being on the main A37 and close to the A303 South West trunk road to London.

Other information

Trading hours:

Restaurant: 7 days a week, lunch and evening Hotel: Open all day