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Business For Sale. Popular Italian Restaurant/pizzeria Prominent High Street Corner Location

LISTING DETAILS
Firms For Sale ID:
34840
Vendor reference:
AC354
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£200,000  
Turnover / revenue:
£550,000
Net profit / cashflow:
£50,000
Trading hours:
The pizzeria is open Tuesday to Friday from 3:00pm to 11:30pm, Saturday 10.00am to 11.30pm and Sunday 10.00am to 10.30 pm and is closed on Monday.

OTHER DETAILS
Reason for selling:
The owner would like to sell this business on due to other commitments.
Support and training:
The owner is happy to train and handover the business to the new owner.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
Lease terms:
The pizzeria is located in the heart of an affluent residential area of West London and is ideally placed on a busy corner with plenty of street parking available. The premises are leasehold and has 14 years left on its lease. The restaurant is on two floors with circa 800 square feet on a ground floor with a service area and capacity for 22x covers and a basement kitchen and storage of similar area. The rent per annum is circa GBP 26,400 and the rates are circa GBP 9,000.
 
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BUSINESS DESCRIPTION
Popular Italian Restaurant/Pizzeria
Prominent High Street corner location
Ref. AC354
Location : West London
Asking Price : GBP 200,000
A restaurant has operated on this very prominent, high street corner location for many years and was purchased late in 2016 by the vendor with the intention of adding a retail business to it commercial business. The vendor then invested circa GBP 70,000 in a high quality refurbishment of the premises that included the reastaurant and food preparation areas as well as the frontage to the premises.

Since refurbishment the restaurant was opened in May of 2017 and has been busy since day one, proving to be extremely popular with local residents who enjoy the cosy atmosphere and high quality Italian food on offer, which is under the management, day to day, of a highly professional and fulltime Restaurant Manager with the support of reliable full time and experience staff.

The menu is made up of quite typical Italian options, geared toward traditional British tastes and includes various Pasta and Pizza dishes with a varied selection of starters and side dishes. The restaurant is fully licensed.

The restaurant also does very well with local residents with its takeaway and home delivery service, which is particularly busy during evening and weekend periods. Opening hours are currently rstricted to evenings due to the vendors wish to not do too much, and especially since he wishes to now sell this pizzeria and focus on his other commercial catering business.

The vendor strongly believes that unexploited opening hours during early breakfast and lunch would benefit sales greatly.

Market / Competition / Non-Competition Agreements
The business has an attractive website, Facebook site and benefits from the Just Eat online facility for ordering delivered, take away meals.