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Very Popular Restaurant in Stone, Staffordshire For Sale

Stone, Staffordshire

£64,950 +SAV

Ref: 2763

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Description

Hilton Smythe is delighted to welcome to the market this very popular restaurant business in Stone, Staffordshire. The business was established by our client in 2013 and is only now, reluctantly, being offered to the market due to our client’s other business commitments. The business currently operates 6 days per week and generates an exceptional turnover in the region of £242,000 per annum, with a gross profit of approximately 64%. The newly refurbished restaurant, which is currently in the Michelin guide, offers a fresh, stylish and comfortable environment with very high quality and seasonal menus. All the produce is acquired from as close to the restaurant as possible. All the ingredients are sourced locally whenever possible, with all the dairy products from within Staffordshire. The property boasts a 30 cover restaurant area to the ground floor, as well as 30 covers to the first floor. To the rear of the property is a fully fitted commercial kitchen. Within the short time the restaurant has been operating, the business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations. We feel the turnover could be increased by extending the opening hours, especially by opening on Sunday evening and Mondays. A new owner could also embark on a modest marketing campaign to promote the fayre and services offered. The business already has an excellent and informative website in place to advertise the business at www.cullensrestaurant.co.uk. This is an excellent opportunity for a new owner to take this popular and busy restaurant to the next level; therefore early viewing must come highly recommended to avoid disappointment.

Tenure

Leasehold

We are advised Leasehold: Original lease length: 9 yearsRemaining lease length: 7 yearsReview every: 3 yearsRent: £17,000 per annum

Hours

The business is open: Monday: ClosedTuesday – Saturday: 12.00pm – 2.30pm and 6.00pm – 10.00pmSunday: 12.00pm – 4.00pm

Staff

The business is owner run and managed with 10 x staff members.

Financial Profile

The business generates an exceptional turnover in the region of £242,000 per annum, with a gross profit of approximately 64%.

Location

Cullen’s Restaurant occupies substantial three-storey premises, ideally located within the market town of Stone in Staffordshire. The popular restaurant is located on the very busy Radford Street and is surrounded by a wealth of complimentary shops and businesses. The restaurant benefits from a high volume of footfall and passing trade. The property is surrounded by densely populated residential areas, from which the business derives much of its trade. Stone is a quaint and picturesque old market town and is a very popular place in which to live and work, due to its close proximity to Stoke –on-Trent and Stafford. Stone is a growing town, according to the national census in 2001 it had a residential population of 14,555, and in 2011 it had grown to 16,385. The area of the business is very well served by the public transport system, with bus stops within easy walking distance of the property. Stone railway station is less than 10 minutes’ walk away. The area is also well served by the A-roads, with the business being situated on the A520, which links to the vast A-road and motorway networks. The town is approximately 7 miles north of Stafford and 7 miles south of Stoke-on-Trent.

Premises

Substantial double fronted lock-up premises, briefly comprising: Lower ground floor: 2 x cellars, currently unused. Ground floor: Fully licensed bar/waiting area for approximately 10 persons.30 cover restaurant.Fully fitted commercial kitchen.Bottle wash area just off the main kitchen.Staff WC.Bin room.Bottle lock-up room, also used for wine storage.Dry goods storage area. First floor with: 30 cover restaurant.Ladies and gents WCs.Second licensed bar/ waiting area for approximately 10 persons. Second floor: 2 x loft rooms, currently used for storage. Equipment included: Double 6 x burner cooker with plancher and grill.Double deep fat fryer.2 x ring induction hob.1850 watt microwave oven.Double door under counter refrigerator with two shelves.Hot cupboard with two heated shelves and dinner switches.4 x upright refrigerators.Large chest freezer.Small under counter refrigerator.Coffee grinder.Coffee machine.2 x EPOS systems.Glass washer.Dishwasher.Wine refrigerator.Bottle refrigerator.All furniture, tables and chairs. All the kitchen equipment is less than two years old.

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