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Richmond Well Established Italian Restaurant With Two Flats For Sale

Richmond, Surrey
Asking Price:
£400,000
Sales Revenue:
£545,000
Cash Flow:
£154,000

Turnover £545,000 Asking Price £400,000 EBITDA £154,000

Here is a rare opportunity to acquire a superb and well established leasehold Italian restaurant in Richmond benefitting from a full bar licence as well as an A3 licence.

The restaurant is right in the heart of Richmond in a high footfall area close to a railway station. The restaurant has a maximum capacity of approximately 130 covers, including a private function room that has 27 covers, and an outside area of approximately 60 sq metres, that lends itself to being covered over, subject to planning permission, to enhance trade during the cooler months.

The restaurant is currently closed on Sundays, and if opened on Sundays, this would substantially increase turnover.

The building is spread over two adjoining premises. There is a newly signed 15 year lease on one part of the premises, and there is approximately 10 years left on the lease on the other part of the premises.

There are two studio apartments above the premises, which are currently let on short term leases, and bring in an additional revenue, offsetting the rent to the tune of over £24,000 p.a. The rent for the two premises including the flats is currently a total of £79,000, so the rent for the premises is approximately £55,000. The rates are £16,000 p.a.

The figure of £154,000 is the EBITDA including the revenue from the flats. The stock is to be sold at valuation and is estimated to be worth approximately £20,000.

It is envisaged due to the prime location the restaurant enjoys,that the business is likely to sell quite quickly.

Property Information

Property:

Leasehold

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