Grade Two Listed City Restaurant For Sale

Business description

Substantial Grade 2 Listed 3 Storey City Centre Restaurant Overlooking Cathedral Yard

Al Farid Restaurant is located in the corner of Cathedral Yard, a pedestrianised area in the centre of one of the oldest parts of the city. It is ideally situated to attract both business and visitors to the area.

Currently run as a Moroccan style restaurant with meze bar on the ground floor, 30 cover restaurant at first floor level. There are stores and a small flat on the second and third floors.

The property is an end terraced character building with colour washed walls under pitched slate roofs with ornate lead style windows. The property is also situated within a Conservation Area.

GROUND FLOOR

Entrance Hallway. Door to Meze Bar with informal seating, low tables and cushions. Refrigerated display counter. Moroccan style lamps. Dumb waiter. Commercial Kitchen with non-slip flooring, stainless steel undercounter fridge and chiller unit, two 4-ring gas burner, chargriddle, double fryers, grill, stainless steel tables and stainless steel extractor and hood. Stairs off Meze Bar to Basement WCs. Off the main entrance, there are stairs to:-

FIRST FLOOR

Restaurant which is currently laid out for approximately 30 covers with Moroccan style lamps, curtained ceiling and is of a contemporary design. Double doors lead to Smoking Balcony with Moroccan lanterns, heat lamps and cushions. Stairs give access to:-

SECOND FLOOR

Store Room Area. Stairs to:-

THIRD FLOOR

Open plan Flatlet with En-Suite Bathroom & WC.

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

Trading Style

Al Farid trades as an authentic Moroccan style restaurant with a relaxed Meze Bar operation at ground floor level and an a la carte restaurant at first floor.

Turnover

We can advise that the turnover for a 44 week period to 3 February 2008 was £156,347 net of VAT. If this is annualised, the turnover would be somewhere in the region of £185,000 net.

Opening Hours

Currently trading six evenings, Monday to Saturday inclusive from 6:00pm – 11:00pm.

Licences

We are advised that the restaurant has a Premises Licence.

Staffing

The business is currently run with a manager, two full-time chefs and 3 part-time staff.

Potential – We believe there is considerable potential to expand the trade and as the restaurant is set in a great location, it could either be operated with longer opening hours, particularly lunchtime or as an all day operation. This would suit a variety of cuisines.

Property information

Property:

Leasehold

Lease terms:

The proeprty is held on a 20yr full repairing and insuring private lease from October 1999 with rent reviews every 5 years and a current rent of £17,000 pa.

Living accommodation:

Open plan flatlet with en-suite bathroom and WC

Location:

City Centre