Advert Ref: LR2088

Contemporary Licensed Restaurant with Bar in Northampton For Sale

  • Northamptonshire, United Kingdom

Price Reduced

Asking price:
£130,000
Sales revenue:
£306,776
Net profit:
£50,000

Contemporary air conditioned Licensed restaurant, long established and well known restaurant, currently trading as an Italian restaurant, however the premises would lend itself to all types of cuisine. The restaurant has recently undergone extensive refurbishment and offers c50 covers on the ground floor with an additional 20 to first floor bar area. Certified accounts show sales ex. vat of £306,776 with a gross profit of £190,560 (62%) and an adjusted net profit of £50,000 (after proposed rent). Local authority food hygiene inspection four star rated.

Property:
Leasehold
Lease terms:
New lease with a proposed term of ten years with an ingoing rent of £35,000. Rent reviews every five years.
Location:
Prominent location fronting on to a busy main approach road to the town centre.
Competition / Market:
A long established business with excellent reputation.
Trading hours:
12.00 to 2.00pm lunchtimes and 6.00 to 10.30 pm Monday to Saturday. Closed Sundays.
Financing available:
Via Ashley Tate's recommended panel of banks and brokers.
Fixtures value:
Undisclosed
Stock value:
Undisclosed

If you are interested in finding out more about this business for sale, you can contact us via any of the three options below.