For Sale

Thriving, Authentic Italian Restaurant

Peterborough, Cambridgeshire

£135,000 +SAV

Ref: B04932

Contact sales negotiator

Sarah Moores

01204556309

Email Sarah Moores

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Description

Hilton Smythe welcomes to the market Tonino’s, an authentic Italian restaurant which was established by our client in 1996.
Our client is now looking to sell this thriving business for genuine purposes.
Tonino’s has a clientele that reaches across all age ranges, from families in the early evening to couples later in the evening. The restaurant also specialises in fine Italian wines and has a full premises licence.
Our client chooses to open Monday – Saturday 6pm to 10pm and does not open over the Christmas period, however, the lease permits longer opening hours to include Sundays.
Tonino’s has a very good reputation having many repeat customers, 4.2* google rating, 4* TripAdvisor rating, a Facebook page.
Although Tonino’s is a profitable business there is huge scope for development by considering:
• Opening longer hours
• Creating a website to promote the business
• Create a full advertising campaign
• Competitively priced menu could be considered.
There are many reasons to buy Tonino’s including
• Affluent market village location
• Strong reputation locally

Hilton Smythe highly advise early viewing to avoid disappointment.

Tenure

Leasehold

We are advised the business is being sold as a Leasehold business opportunity.
A 13-year lease was signed in 2017 and there is an annual rent of £11,500
We have been informed that our client pays £0 rates.

Hours

The business opening hours:

Monday - Saturday: 6pm – 10pm
Sunday: Closed
The hours the business is open have been chosen by our client in order to suit their lifestyle.
There are no restrictions on the lease regarding times and the restaurant can be open 7 days a week, later in the evening and during the day.
HUGE ONWARD POTENTIAL for extension of trading hours at both lunchtimes, Sunday lunches and Sunday evenings together with more private functions.

Staff

The business is run and managed by our client, with the help of 1 full time and 4 part time members of staff.

Financial Profile

Tonino’s generated an advised turnover of circa £181,000 as of the 2018 accounts, with a gross profit of circa £133,000
These figures are quite typical of the last 3 years.
Previously our clients have opened longer hours.
The assets being sold with the business are worth in the region of £30,000

Location

Tonino’s is in the affluent village of Market Deeping within Lincolnshire, just across the border with Cambridgeshire.
Tonino’s is located on the edge of the town centre. Close to a major junction, with a pedestrian crossing in front and parking behind.
Tonino’s is in a Grade II listed, former bank building with signage to the front and side.
Market Deeping is an affluent market village with a population of circa 6,000, located on the north bank of the River Welland and just off A15, north of Peterborough.
Market Deeping has several independent shops that bring a high footfall to the area.
Tonino’s has limited competition as there are no other Italian restaurants and the village has only an American diner and two Indian restaurants.

Premises

Entrance door from the main road to a lobby way which leads to the main restaurant via the bar area.

Soft seating is in the waiting area where the bar is located, this area leads to the main dining room.

The bar has Peroni on tap, drinks fridge, coffee machine, till and storage.

The main restaurant has seating across many tables for 48/50 customers. It benefits from gas central heating.

There is a door that leads to the toilet and a lobby that leads to the rear and to the first floor.

The kitchen has an open serving area to the restaurant and a staff door that leads to the preparation room.

The preparation room has stainless steel table, glass washer, fridge, sink, window to the rear and door to the kitchen.

The 5* hygiene rated kitchen has:

• Double deck Fage pizza oven,
• 6 burner hobs,
• Double fryer,
• Chargrill,
• Microwave,
• Under counter fridges,
• Other fridges, as well as a large industrial extractor fan can be found.

Rear lobby has a door to the rear courtyard, which could be used for outside dining, subject to the correct permissions.

From the rear lobby are stairs that lead to the first floor, on the first floor are the toilets and store rooms.

There are separate male and female toilet facilities.

Office/ Store room with fridge and two freezers.

Store/ preparation room contains a Monziani dough machine, fridges, freezers, sink, wall and base units.

Rear store room with shelving.

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