Attractive Italian Restaurant in Lincolnshire For Sale

Situated in a Court year, excellent trading position, residential, office and commercial area, Lincolnshire.

Turnover £ 16,000
Price £195,000

Features

Most Attractive Licenced Italian Restaurant

5 STAR HYGIENE RATING
LARGE FRONT PATIO AND REAR GARDEN SEATING FOR 40 PEOPLE
LARGE PUBLIC CAR PARK
LATE LICENCE (2am)
SPONSORSHIP LICENCE

DOUBLE FRONTED PREMISES, wood strip floor, hanging lights, Air conditioning with hot air. Bar with 8 pumps, drinks display fridges (glass fronted upright), EPOS till. Tables and chairs providing seating for 90+ People.

Kitchen with stainless steel extractor unit, Cooker (Gas 12-burner), pizza oven (2-deck), deep fryer (2 pan), salad fridge, combi oven, 2 under counter fridges, 2 double foor freezer, 2 x freezer, plate warmer, dishwasher, 2 x microwave, double sink and drainer.

Stock room deep freeze, fridge.

Ladies' & gentlemen's plus Disabled Toilet with w.c. and wash hand basin.., CCTV system (15 cameras, 1 monitor)

Turnover

WE ARE INFORMED by the owner the turnover currently averages £16,000 p.w. with a Gross profit of 65% approx. (NO PORTALS)

Staff

The business is at present operated by the vendor with 4 full time & 15 part time staff.

Trading Hours

7 Day week
MONDAY - THURSDDAY 11am - 10pm
FRIDAY & SATURDAY 11am - 12pm
SUNDAY 11am - 9pm

Outside

Parking space for 1 car.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2020 with reviews every 5 years (next review 2030) at a current rent of £27,500 p.a. + VAT In addition we understand there is a Service charge of £2,000 p.a. approx.

Business Rates from April 2025 £17,149 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2024, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDOR'S RELOCATING.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £195,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 97,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote