Sold

Beautifully Presented Restaurant In Riverside Location

Norwich, Norfolk

£74,999 +SAV

Ref: 14116 F

Share this property
Share

Description

Hilton Smythe welcomes to the market Staithe ‘n’ Willow, which has been a restaurant for many years and owned by the current vendor since 2012. Unfortunately, due to ill health our client now needs to sell. Staithe ‘n’ Willow serves breakfasts, cream teas, Sunday roasts, has gluten free options, carries out private functions and is fully licensed for alcohol and music. There are themed nights throughout the year and has many repeat customers, whether they be local or tourists. There is a website www.staithenwillow.co.uk and a Facebook page with a 4.9/5 rating. This restaurant comes with a flat above, which is accessed directly through the restaurant itself, but also with a separate one bedroom cottage. Extra income could be earned by letting out the cottage with achievable figures of £520 per week in peak season and £320 per week off peak. These have been achieved by the owner in the past with approximately 70% occupancy. Hilton Smythe highly advise early viewing to avoid disappointment.

Tenure

Leasehold

We are advised the business is being sold as a leasehold business opportunity. Original lease length: 25 years.Remaining lease length: 9 years as of 2017.Rent: £22,500 per annum for the restaurant, flat and cottage.

Hours

The business opening hours: SummerMonday: 8.00 am - 6.00 pmTuesday: 8.00 am - 6.00 pmWednesday: 8.00 am - 6.30 pmThursday: 8.00 am - 6.30 pmFriday: 8.00 am - 7.30 pmSaturday: 8.00 am - 7.30 pmSunday: 9.00 am - 5.00 pm WinterMonday & Tuesday: ClosedWednesday; 9.30 am - 5.00 pmThursday; 9.30 am - 6.00 pmFriday & Saturday: 9.30 am – 7.30 pmSunday: 9.30 am - 5.00 pm

Staff

The business is run and managed by our client, with the help of 1 x full time and 2 x weekend members of staff.

Financial Profile

Staithe ‘n’ Willow generated an advised turnover of circa £131,000 as of the 2018 accounts, with a gross profit of 74%.These figures do not include any revenue from the cottage, which could generate approximately £15,000 per annum income with a 70% occupancy of an average weekly holiday let income of £420.00.

Location

Staithe ‘n’ Willow is located in the Norfolk Broads riverside village of Horning, just a few miles outside of Wroxham and approximately 12 miles from Norwich. Situated in this popular tourist village with a large number of visitors throughout the year. The restaurant benefits from a free car park next to the premise and boasts beautiful views set on the River Bure. This is a picturesque location that receives all year round trade. This village is mostly made up of residential property from which the business derives much of its trade. Within the area are a range of retail outlets, this includes a butchers, gift store, convenience store, Post Office, cafes, guest houses and much more.

Premises

Outside there are 30 river front seats, set in a courtyard with views across the River Bure. The main building is entered from this area into a foyer with separate toilets and access to the main restaurant area with multiple seating. The restaurant has a cottage feel with feature beams and fireplaces. The serving area/bar is also located here. The bar has display fridges, under counter fridges, coffee machine, sink, storage and gives access to the kitchen. The kitchen has access to the outside and gives access to the store room with fridges and freezers. The kitchen is fitted out with: Stainless steel with a range and industrial extractor over2 x deep fat fryersHot plateSalad preparation area with under counter fridges. There are two doors giving outside access, one leads to the staff parking area with parking for 3 vehicles and the other leads to the garden area, which is used for staff breaks. The flat is accessed via the restaurant and the stairs lead directly into the dining/study area. Off this area is the lounge with river views and the fitted kitchen. From the kitchen is the double bedroom, which has had a recently refurbished shower room. The cottage has its own access off the courtyard. On the ground floor is a storage cupboard, bathroom and kitchen and on the first floor is the lounge with river views which leads to the bedroom, also with river views. The four poster bed and wardrobe come with the property. The entire property is heated by a gas central heating system with a new boiler located in the restaurant kitchen.

Read some of our helpful guides and blogs

Blogs

10 brilliantly designed restaurants in the UK

7th October 2016

As a Business Brokers, we’ve come across many restaurants all different sizes […]

Blogs

10 ways to advertise your business for free

28th May 2015

Advertising can be expensive, however when you’re just starting out or are […]

Blogs

4 things to consider when you sell a business

4th January 2018

Every major decision requires careful thought and consideration, and very few decisions […]

Blogs

4 ways to attract buyers to your Fish & Chip Shop

19th February 2018

Despite the ever-increasing range of fast food options available to us in […]