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Thriving Bar and Restaurant in Derby For Sale

Derby, Derbyshire

£10,000 +SAV

Ref: 1745

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Description

Hilton Smythe would like to welcome to the market Friars Bar and Steakhouse in Derby. The business was established in 1999 and has been in our client`s ownership since 2006. Only now is the business offered to the market due to our client`s wish to relocate. The business is open 6 evenings per week and generates a turnover in the region of £60,000 with a gross profit of 65%. The restaurant comes with a full licence and the seating area offers 30 covers. The business has a loyal client base with a large amount of repeat trade.

The business is a small family run restaurant and has a rustic and cosy atmosphere. It is a relaxed venue with exposed brick walls, wooden flooring and soft lighting. We feel the business would benefit from a website to advertise the business and services offered as there is currently none in place. We also feel that the turnover could be increased by extending the opening hours and perhaps serving a lunchtime menu. This is an ideal opportunity for a new owner to acquire a very profitable business, which is well-equipped and in a ‘walk-in-and-trade’ condition; therefore early viewing must come highly recommended.

Tenure

Leasehold

We are advised Leasehold:

Original lease length: rolling agreement.
Rent: £3,200 per quarter.

Hours

The business is open:

Monday – Saturday: 6.00pm – 9.30pm.
Sunday: Closed.

Staff

The business is owner run and managed with 2 full-time staff members.

Financial Profile

The business generates a turnover in the region of £60,000.

Location

Friars Bar and Steakhouse occupies prominent three storey premises on the busy Friar Gate within Derby, Derbyshire. The business is situated in an area that is renowned for its quality restaurants and bars. The property benefits from ample on-street parking to the front of the property and is situated within a range of complementary businesses. Situated within the Cathedral Quarter of the city, the property is within walking distance of the Derby City Church and the Derby Museum and Art Gallery with a large amount of footfall and passing trade.

The area is well served by public transport with several bus stops within easy walking distance of the property, with the nearest railway station just a short distance away. Derby is a popular and thriving city with a large student population and is a desirable place in which to live. Derby is well served by the A-roads being in close proximity to the A38 and A61, with the M1 motorway being approximately 9 miles away. Nottingham is 15 miles away and Chesterfield 24 miles away.

Premises

Mid-parade three storey premises, briefly comprising:

Ground floor:

Restaurant area with wooden flooring, tables and chairs for 30 covers, central heating, 2 x feature ceiling fans, bar servery with two points of dispense, electronic cash register, ice machine, wine chiller and ladies and gents WCs.

Fully fitted commercial kitchen with stainless steel work surfaces, 2 x stainless steel sink units, dishwasher, 4 x refrigerator/freezers, plate warmer, grill, double fryer, 6 x burner range and stainless steel extraction system.

Cellar used as storeroom.

1st floor with:

Lounge,bathroom and acillary area.

2nd floor with:

2 x double bedrooms.

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