Leasehold Option £289,995 + SAV
Hilton Smythe is delighted to welcome to the market this well-established and popular award winning restaurant, which is ideally located in Cornwall.
The business was originally established in 2004. Only now is the business being offered to the market due to our client's desire for a well-deserved retirement. The business currently operates 7 days per week and generates a turnover in the region of £500,000 per annum, with a gross profit of approximately 70%.
Our client offers dished from many Asian and Pacific rim countries including Thailand, Malaysia, Japan, Singapore, Indonesia, China, Vietnam and Laos. The chefs' have many years' experience working in some of the best hotels and resorts across South East Asia.
The restaurant offers up to 120 covers, set over two floors. To the ground floor is an open plan kitchen, which provides drama and entertainment to customers, enhancing the dining experience. To the first floor is a dining room with up to 60 covers, which is perfect for private functions and parties. There is also an external courtyard, with seating for 8 people. The property boasts 275 sq. metres of floor space, which is well maintained and beautifully decorated.
The business has built up an excellent reputation within the area and further afield for the very high quality of the food and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations. The restaurant has excellent reviews on the popular travel website Trip Advisor.
We are advised this is freehold opportunity, although our client is willing to offer a leasehold option for £279,995 + SAV.
We feel there is scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to highlight the excellent fayre and service offered. The business already has a very informative website in place.
This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.
TENUREWe are advised Freehold.
There is a leasehold option available for £279,995 + SAV.
HOURSThe business is open:
Monday - Saturday: 12.00pm - 3.00pm and 6.00pm - 11.00pm
Sunday: 6.00 - 11.00pm
STAFFThe business is owner run and managed with 8 x permanent and 6-8 casual staff members.
FINANCIAL PROFILEThe business generates a turnover in the region of £500,000 per annum, with a gross profit of approximately 70%.
This popular restaurant occupies substantial three storey premises, ideally located within in Cornwall. The restaurant is surrounded by a wealth of complimentary shops and businesses, therefore, benefiting from a very high volume of footfall and passing trade. The business further benefits from good car parking facilities within the area, with a large car park being just a short walk away.
The area of the property is well served by the public transport system, with several bus stops being within easy walking distance of the property, which link to the many surrounding towns and villages. The nearest railway station is less than one mile away. The area is also well served by the A-roads, with both two being just a short drive away, which link to the national A-road and motorway networks.
Substantial three storey premises in an ideal trading location, briefly comprising:
Beautifully decorated with illuminated wall art.
Bespoke reception desk with electronic cash register, credit/debit card terminal and wine cooler.
Tables and chairs.
Open plan stainless steel commercial kitchen.
First floor with:
Beautifully decorated with wall art.
Bespoke bar with bar stools.
Tables, chairs and benches.
Small private room, which could be used for private parties for up to 15 covers.
Second floor with:
Ladies and gents' WCs.
Equipment included, but not limited to:
7 x hob wok cooker.
Deep fat fryer.
Stainless steel preparation tables.
Under counter refrigerators.
Commercial sink unit.
2 x coffee machines.
General kitchen equipment.
Courtyard with seating for up to 8 x covers.