Leasehold Greco Italian Restaurant In Twickenham 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 £160,000 pa with a net profit of £33,600 (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 someone wanting to convert the large premises to Indian, Chinese, Thai, Mexican or another popular cuisine.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides Greco-Italian Fusion Cuisine as well as a variety of English Dishes.

History
Agents are delighted to place onto the market this Greco-Italian Fusion Restaurant which has been established since 1989. The business has been in the hands of the current owner since 1989 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides Greco -Italian Fusion Cuisine as well as a variety of English Dishes.

Staffing
The concern employs 2 full-time and 1 part-time staff. The wages are £22,080 pa.

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

Marketing
The owner markets the business on the internet namely through Yell.com and The Best of Richmond but doesn’t have his own dedicated website.

Competition
There is no local competition.

Market
The client base consists of local, passing and Rugby fans.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings, banners, posters and local and internet advertising.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

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.


The present annual turnover is £166,000 with a gross profit of £119,104 and a net profit of £21,000. The wages are £22,080. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £250,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 30 years with 22 years remaining. The rent is £33,600 pa with a review in 2014. The lease may be renewable or negotiable for longer term if required. The rates are £10,000.

Leasehold rent:

£33600pa per annum

Location:

- Situated in the Heath Road area of Twickenham.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby after 6.30pm.
- Industrial estates 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 A305, A311 and A316.
- Twickenham Stadium, Richmond, Teddington, Kingston-Upon-Thames, and Kew Gardens 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. The front is branded with an attractive glass front. The main customer service area is tiled. It is very well presented and is very conveniently laid out.

The restaurant can cater for 80 to 100 covers. The customer service point is to the right. There are customer toilets.

To the rear is a store room. There is a toilet, staff facilities and a fully fitted kitchen.

Size in square feet:

1000sq ft

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, banners, posters and local and internet advertising.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Competition / Market:

There is no local competition.

Reasons for selling:

now wishes to sell due to other business interests.

Trading hours:

Tuesday to Saturday: 12.00noon - 2.30pm.
Monday to Saturday: 6.00pm – 10.30pm
Sunday: 12.30pm – 8.30pm

Employees:

The concern employs 2 full-time and 1 part-time staff. The wages are £22,080 pa.

Years established:

22 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:

£40,000 (included in the asking price)

Inventory / Stock value:

£5,000 (included in the asking price)