Hilton Smythe welcomes to the market Roadhouse the Diner Ltd. The restaurant was established in this location by our client in 2012. The owner is now looking to sell the business, due to the desire to take a well-deserved retirement.
The business runs as an American diner selling a variety of specialist dishes. Meals are served at breakfast, lunches and dinner. Popular products include chilli hotdogs, burgers, ribs, mac n cheese, sharing platters, waffles, milkshakes, pancakes and steaks. The restaurant boasts a 5-star food hygiene rating.
The restaurant receives a generous amount of trade over the weekends and sees tables turned around three times. In 2016 the business generated a turnover in the region of £165,000, with a gross profit of 23%. Although this is a healthy turnover, we feel there is scope to increase this figure.
The town of Basildon has benefited from multi-million-pound investment. The area will see the introduction of new shops, apartments, cafes and a cinema. The purchaser should look to develop links with the new cinema to allow for promotional offers and more advertising.
Over the past two years our client has spent over £125,000 refurbishing the property. The premises look presentable and match the theme of the restaurant. There are approximately 48 covers in the restaurant, however there is potential to expand seating to the outside. This would be a great plus in the warmer summer months.
This is a fantastic Leasehold opportunity that is not to be missed. Hilton Smythe highly advise early viewing to take in the full potential of the trade.
TENUREWe are advised the business is being sold as a Leasehold opportunity.
Original lease length: 15 years
Remaining lease length: over 14 years as of 2016.
Rent: £42,000 per annum
HOURSThe business opening hours: -
Monday: 10am - 8pm
Wednesday: 10am - 8pm
Thursday: 10am - 8pm
Friday: 10am - 10pm
Saturday: 9am - 10pm
Sunday: 9am - 5pm
STAFFThe business is run and managed by our client, with the help of 5 full time and 3 part time members of staff.
FINANCIAL PROFILEThe business generated a turnover in the region of £165,000 as of the 2016 accounts.
Gross profit 23%
Roadhouse the Diner Ltd is located in Great Oakes, Basildon, Essex.
The business is located in the town centre of Basildon. Directly behind the property is a 10-storey carpark and several office blocks close by, from which the business receives a generous amount of trade. The restaurant is also set on a rejuvenated shopping precinct which attracts heavy amounts of footfall.
Basildon is the largest borough in Essex. The town is around 30 miles east of London, 10 miles west of Southend-On-Sea and 11 miles south of Chelmsford. This is a great town with a population of circa 107,000, much of these residents work in Central London commuting daily.
The restaurant is set in a busy location. The area is surrounded by great road connections and benefits from a plethora of bus stops. The A127 and A13 are just minutes away from the business. These are arterial roads that run into the centre of London. Close by are several bus stops and the closest train station is just a short walk away.
Modern detached building located on a main walkway from a car park and shopping precinct. The restaurant has two entrances but only one is used. The property is unique and is completed with American flags around the property. Directly outside there are flags on lampposts.
The property briefly comprises: -
Lower Dining Area
This area has 16 covers with bespoke red leather bonket seating. The room is completed with an American juke box, American themed memorabilia and central lighting features. There are ladies, gents and disabled toilets on this level.
Upper Dining Area
This area has a further 32 covers with full window views, again with red leather bonket seating booths and American memorabilia.
Bespoke fixed wood servery. This is a great size and comes fully equipped. Bar equipment includes-
Three points of dispense
2 x Glass fronted fridges
2 x EPOS till systems with full audit control ability
Under counter storage
Two arm Faema coffee machine
Pour and serve
Nelson glass wash
This is a fully equipped commercial kitchen. The kitchen is completed with stainless steel cladding and fixtures and fittings. The room has three phase electrics. Equipment includes-
3 x Stainless steel preparation tables
3 x Microwaves
Lincat and Latrice grill
Four ring gas oven
Three pan Bain Marie
Double pan gas fryer
Lincat fan and steam oven
Malibu large grill
Three door stainless steel polar under counter fridge unit
Falcon twin fryer
Heated servery unit
Chef master toaster
Store Room 1
The room has more equipment plus a new boiler. Equipment includes- pass through dishwasher, stainless steel sinks, stainless steel racking, Foster upright fridge, Foster upright freezer, Williams upright fridge, four blenders. This storage room is also the cleaning cupboard with access down to the delivery bay and fire exit.
Store Room 2
This is the chilled area, where beer and food is kept. Chilled area with air conditioning unit for barrel store with capacity for five different beers, two 6-foot chest freezers, 4-foot freezer and storage racking. Access to dry store cupboard, loft storage and office.