Restaurant for sale

Leasehold Italian Restaurant Located In Sutton Coldfield

0121 721 6440

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Restaurant

0 bed

0 bath

Property description & features

Leasehold Italian Restaurant
Licensed A3 Consent
Turnover £463,439
Very Profitable
108 Covers
Fully Fitted

Leasehold Italian Restaurant Located In Sutton Coldfield
Licensed A3 Consent
Ref 2934

Location
Veritas Business Sales are delighted to offer for sale this respected Italian Restaurant which is located in Sutton Coldfield.

Asking Price £199,950 plus SAV (£10,000)

Business Description
Veritas Business sales offer to the market this outstanding Italian Restaurant which is located in Sutton Coldfield. The premises has been a restaurant since 2005 and has been in careful hands of our clients since 2009. They are now offering the restaurant for sale so that they can enjoy a well deserved retirement. Since ownership they have continually invested in new equipment along with fixtures and fittings which are all bought and paid for and included within the sale price which is a huge plus for a new owner as additional funds will not need to be spent for some time. Turnover is £463,439 with a GP of £302,080 (65%) producing a pre tax profit of circa £135,000. The menu offers a fine range of authentic Italian cuisine, to include a la carte, daily specials and on Sundays you have a traditional English roast dinner. All meals are freshly cooked to order using only the finest high quality produce and can be accompanied with some fine wines and enjoyed within the cosy (108) cover restaurant.
We believe that there is further potential to increase revenue should you wish, by extending the current opening times. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this gem is not to be missed.

Leasehold
Term: 15 years
Remaining: 10 years
Rent: £28,000 plus vat pa
Reviewed: 5 yearly
Service Charge: £4,000 plus vat pa
Business Rates:£3,181.12

Ground Floor
Entrance door leading into the bar area comprising: customer seating area, condiments trolley, serve over bar with stainless steel sink, glass washer (Dexion), 2 x 2 door undercounter drinks fridges, 2 door undercounter dessert fridge, espresso coffee machine (Fracino), coffee grinder (Espresso Italia), filter coffee machine (Bravilor Bonamat), undercounter freezer and storage shelves.
Restaurant with seating for (70), cutlery/condiments cabinet, wine fridge, serve-over pass from the kitchen and stairs leading to the first floor restaurant.
Wine stores.
Hallway with cloak room area, 2 baby high chairs and rear exit door.
Ladies W/C with wash basin, wall mounted hand dryer and wall mounted mirror.
Gents W/C with wash basin, wall mounted hand dryer and wall mounted mirror.
Commercial kitchen comprising: stainless steel upright fridge (Foster), stainless steel worktop with 2 door undercounter freezer (Polar), stainless steel worktop with 2 door undercounter fridge (Electrolux), meat slicer, 10 x wall mounted metal shelves, gas deep fat fryer (Electrolux), 6 burner range (Electrolux), solid top with oven (Electrolux), hot cupboard with 2 x metal shelves and pass, 2 x commercial microwaves (Samsung), stainless steel worktop, gas char grill (Champion), salamander grill x 2, extraction canopy x 2, 8 burner range (Imperial), stainless steel worktop with 3 door undercounter fridge (Electrolux), stainless steel double sink, wall mounted utensil rack, wall mounted knife rack, wall mounted paper towel dispenser, stainless steel wash basin, electric deep fat fryer, pot-wash area with stainless steel double sink with directional hose and dishwasher (Class EQ).

First Floor
Restaurant with seating for (38), cutlery cabinet and condiments area with undercounter fridge.
Dry stores with ice cream freezer (Zanussi), 3 x storage racks, staff changing area, staff lockers, upright fridge (Imperial), chest freezer (Esta) and glass washer (Whirlpool).
Storeroom.
Ladies W/C with wash basin, wall mounted paper towel dispenser, wall mounted mirror and wall mounted electric heater.
Gents W/C with wash basin, wall mounted paper towel dispenser, wall mounted mirror and wall mounted electric heater.
The restaurant benefits from 4 air-conditioning units which also blow hot air when required.

External
Rear parking for (5). More parking available of an evening. Lean-to with bin area, ice machine, dry stores with upright freezer, walk-in cold room with 2 x storage racks.

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Places of interest

Veritas Business Sales - Solihull

Central Boulevard, Blythe Valley Business Park Solihull, West Midlands B90 8AG

0121 721 6440

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Veritas Business Sales has been at the forefront of Business Sales, Acquisitions, Disposals and Commercial Property Sales for many years. We handle SMEs, company share or asset sales or just the disposal of a lease, so we pretty much have it covered. Once you have made the life-changing decision to sell your Business, the next most important step is to instruct the correct agent. At Veritas we have the experience, contacts and marketing power to expose your most prized asset to the right calibre of purchaser. We understand the mechanics behind a multitude of sectors to ensure that the process is both smooth and hassle-free to our clients. We liaise with all parties involved to include Landlords, Solicitors and Accountants and keep you updated with the conveyancing and contract matters every step of the way. We have carved a reputation as specialist agents to the catering trade and have recently sold millions of pounds worth of Fish & Chip Restaurants in The West Country. Other sectors include Licensed, Leisure, Health Care, Retail, Franchising and Property. Our Head office is located in Solihull with further offices in Truro, Nottingham, Norwich and soon to be Cardiff. Whether you are selling a Coffee Shop in Warwickshire, a Public House in Worcestershire, a Residential Care Home in Cornwall, a Retail business in The West Midlands or a Hotel Glamorgan. We have the knowledge and expertise to help with your exit strategy. We have a network of Consultants across the UK so choosing a business agent that understands your business and the benefits of its location means that we can strategically present your concern to a focused audience. Contact us for your free and confidential no obligation business valuation at a time and date to suit.

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