ITALIAN RESTAURANT, LEASEHOLD OR FREEHOLD, HAMPSHIRE Reference No: E7666J

Price: £ 100,000
Description

LOCATION:  Nestled in some of England’s most beautiful countryside is this exquisite and prettiest market town which is the jewel in the crown of Hampshire. There is a huge development just built with 1,000 homes down the road with further new developments nearby.

DESCRIPTION:  An incredible warm, welcoming, restaurant with a lovely ambiance, cosy dining areas in excellent surroundings, elegant fine dining, an authentic kitchen, a well thought out seating arrangement and is probably one of the finest restaurants in the south of England.

The large detached building has a large front car park and a garden area to the rear. Inside, there is the bar/waiting area. The 2,250 sq ft restaurant comprises a large seating area for 100 either side of the bar with some alcove seating. To the rear is the ladies and gents wc’s and a fully fitted and equipped kitchen with a separate wash up area, a preparation section and a walk in cold room. There is also a staff wc, a large stock room and a utility area. The walk in freezer is under cover outside and a good sized garage which is fully clad, ready for preparation and outside catering use.

BUSINESS: In the same hands since 1980 taking £500,000 pa in 4.5 day week at 68% g.p. is run with 4 full time and 4 part time staff @ 25% of the takings. It is now time for the sellers to retire. All the staff to remain. Full accounts available on request by registered applicants.

HOURS: Open 4.5 days a week. Wednesday to Saturday 12 noon to 2.30 pm and 7 pm to 10.30 pm. Sunday 12 noon to 2.30 pm. Closed Monday, Tuesday and Sunday evening. Currently also closes for 3 a week annual holiday, bank holidays and some festive days. Huge potential to increase the opening days and times.

EQUIPMENT:  Fully fitted and equipped for the trade with good quality inventory which is available on request.

COMMENTS:  A brand new septic tank was installed in 2017 costing £60,000.

ACCOMMODATION: 3 Bedroom flat above  comprising a lounge 12.9 x 16.8, bathroom 8 x 9.1, a separate wc 5.9 x 3.5, bed 1 17.8 x 11.5. bed 2 10.1 x 12.11, bed 312.11 x 14.4.

TENURE: New negotiable lease with 5 yearly rent reviews is available at a rent of £40,000 pa. . Rates £10,000 pa payable.

 

PRICE: £100,000 Leasehold + stock at valuation (approx £5,000) (FREEHOLD: £900,000)

VIEWINGS/

Negotiations:  STRICTLY BY APPOINTMENT ONLY Strictly through PEGASUS BUSINESS SALES

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