Asking price: £680,000

Sales revenue: Undisclosed

Net profit: Undisclosed

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
Sovereign Business Transfer are delighted to place on the market this rare business opportunity. A highly sought after award winning restaurant located in the heart of Manchester city centre.

Located close to Piccadilly Gardens, Metrolink and Manchester’s world-famous Chinatown this prime location has consistent foot flow with an abundant mix of business, tourist and residential passing trade.

Since taking over the business, our client has worked very hard to increase the turnover and reputation.

In 2005, the restaurant under went a £1.5m fit out and was a finalist in the Interior Design Awards supported by Theme Magazine. The restaurant décor is beautifully presented throughout and provides diners with one of the finest experiences in Manchester.

Property:
The restaurant is arranged over the ground floor; the ground floor layout is as follows: Welcoming entrance, lounge bar and private seating area for approximately 20+ covers, main dining area for 165+ covers with a unique glass-fronted open plan catering kitchen / food preparation area, WC facilities and access to the rear of the premises.

In summary, the restaurant has a prime location, superb reputation and has developed successfully through its professional management, excellent staff and food. The existing business provides huge growth potential and offers fantastic scope for a new entrepreneurial / experienced operator to take the business to the next level.

Years established: 3 Years

Trading hours: Monday – Friday 12 00 -14 30 Monday – Saturday 17 00 - 23 30

Property: Leasehold

Lease terms
The property is held by virtue of a 22 year full repairing and insuring lease expiring in 2026. The rent is £100,000 per annum. 5 yearly reviews. Next review 2012.

Expansion potential
The business is operating under a proven formula so the opportunities for expansion to other sites are considerable for the right operator.

Reasons for selling
Whilst the business is run successfully under management the owner has other business interests that they wish to pursue.

Financing available
Sovereign has a wealth of experience in arranging funding solutions from commercial loans to business and technology finance. We can deliver through our group of companies individually tailored funding solutions to meet each client’s budgetary requirements.