Hilton Smythe is delighted to welcome to the market this well-established and busy restaurant business, which is ideally located within the city of Peterborough, Cambridgeshire.
The business was established by our client in 2014 and is only now being offered to the market, due to our client's other business interests. The restaurant currently operates 7 days per week and generates a turnover in the region of £260,000 per annum, with a gross profit of approximately 63%.
Our client offers a diverse menu, which includes authentic Russian fayre, as well as a European menu, including Bruschetta, salads, soups, omelettes, pasta dishes, fish dishes and pizza, as well as a selection of beverages and alcoholic drinks. The property boasts 286 sq. meters of floor space with 54 covers in the restaurant and a fully fitted stainless steel kitchen. The property is very well maintained and is in immaculate condition throughout.
The business has built up an excellent reputation within the area and further afield, for the very high quality of the cuisine offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.
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 food and services offered or offer a delivery service within the area. The restaurant already has a very informative website in place to promote the business at www.stpetersburgrussianrestaurant.com, as well as excellent reviews on the popular travel website Trip Advisor.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, 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 Leasehold:
Original lease length: 20 years, with a 3-yearly break clause.
Remaining lease length: 17 years, as of 2017
Rent: £25,000 per annum
HOURSThe business is open:
Monday - Thursday: 11.00am - 10.00pm
Friday - Saturday: 11.00am - 12.00am
Sunday: 11.00am - 10.00pm
STAFFThe business is owner run and managed with 2 x full time and 8 x part time staff members.
FINANCIAL PROFILEThe business generates a turnover in the region of £260,000 per annum, with a gross profit of approximately 63%.
St. Petersburg Russian Restaurant occupies substantial ground floor premises, ideally located within the city of Peterborough, Cambridgeshire. The business is situated on the very busy Broadway and is surrounded by a wealth of complimentary shops and businesses, therefore, benefiting from a high volume of footfall and passing trade. The restaurant further benefits from on-street parking facilities within the area.
Peterborough is a cathedral city, situated 75 miles north of London. The city stands on the River Nene, with an estimated residential population of 184,500. The city is a popular place for tourists and culture lovers, with a number of museums, exhibitions and historical attractions, including the beautiful cathedral. The city is also a shopper's paradise with popular places such as Bridge Street, the Queensgate Centre, the covered market, Westgate Arcade and the Rivergate Shopping Centre.
The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Peterborough railway station is just over 5 minutes' walk away. The area is also well served by the A-roads, with both the A15 and A1139 being just a short drive away, which links to the national A-road and motorway networks. Corby is approximately 29½ miles away and Huntingdon is 26 miles away.
Substantial ground floor premises in an ideal trading location, briefly comprising:
Main restaurant with:
54 x covers.
Large upright wine chiller unit.
8 x points of dispense.
2 x single door bottle chiller units.
Triple door chiller unit.
Glass display shelving.
2 x sink units.
EPOS cash register.
Credit/debit card terminal.
Ladies and gents' WCs.
Single door commercial freezer.
Double door commercial freezer.
Hand wash basin.
Commercial dish washing sink unit.
3 x stainless steel preparation tables.
Double door hot cabinet with heat lamp.
2 x triple door cabinet refrigerators, both with salad servers.
Double drawer pizza oven.
6 x burner cooker.
2 x burner hot plate oven.
Double floor standing deep fat fryer.
2 x microwave ovens.
Shelved dry store with freezer.
Rear side passage bin area.
Staircase leading to flat roof, which has two timber sheds for extra storage.