No longer on the market
This property is no longer on the market
MapRestaurant
Under offer
Restaurant
679
Features and description
- Prominently located well-presented restaurant in the sought after town centre of Shrewsbury.
- Located adjacent to public car parks
- Highly profitable restaurant with outstanding reputation
- Genuine retirement sale
Description
The leasehold business comprises of a very well presented 29 cover restaurant that is arranged to provide an open plan dining area with bar and a commercial kitchen and toilet and ancillary accommodation.
The business trades from a ground floor lock up shop unit that provides a Total Net Internal Floor Area of approximately 679 ft sq (63.07 m sq). It is arranged as a restaurant area with a Total Net Internal Floor Area of approximately 428 ft sq (39.76 m sq) with a toilet. There is then a fully fitted commercial kitchen with a Total Net Internal Floor Area of approximately 193 ft sq (17.93 m sq) that has a toilet and preparation/stores.
The ground floor restaurant premises forms part of an attractive listed property that is of traditional construction being of brick construction under a slate roof cover with a fully glazed shop front to the restaurant.
An internal inspection is recommended to fully understand the quality of the restaurant premises.
Location
The business is prominently located fronting onto Hills Lane in the town centre of the sought after town of Shrewsbury. The business is located adjacent to several of the town centre public car parks and located within proximity of Rowley’s Museum. The surrounding occupiers include Ten and Six, KFC and a variety of retail and leisure based occupiers. The business is located within proximity of all local amenities. The business is located just off Barker Street which serves as one of the main arterial roads serving the town centre of Shrewsbury.
Shrewsbury is the County Town of Shropshire and has a significant catchment population as well as acting as an administrative and tourist centre. The town is sat on the River Severn and had a population of 76,782 at the 2021 census.
The town is located approximately 48 miles west of the City of Birmingham and approximately 40 miles south of the City of Chester. There is access to the national road network via the A5 (M54 link road).
Terms
The business is offered for sale leasehold and is currently subject to a lease for a term of 7 years from 21st of June 2018. The current rent is £9,500 per annum. The lease is granted on Tenants Full Repairing and Insuring terms.
The landlord is willing to grant a new lease at the lease expiry on terms to be agreed further details are available from the selling agents upon request.
Business
The business is reluctantly offered for sale as a genuine retirement sale and has been under the ownership of the existing proprietors for over 25 years. The business is run as a family restaurant and is run by the existing proprietors with no staff. It offers a unique highly profitable restaurant business that has established an enviable reputation as an Italian restaurant. The business offers the very best in authentic Italian fine dinning and holds 2 AA rosettes
The business has the current opening hours of
Lunchtimes
Friday and Saturday- 12pm to 1.45pm
Evenings
Wednesday to Sunday- 6.30 pm to closing
The restaurant is highly profitable with a turnover of approximately £207,500 in the last financial year and a gross profit of approximately 54 % and a significant net profit. Further financial information is available from the selling agents upon request including audited accounts.
The outstanding opportunity that the business provides can only be appreciated by undertaking an inspection of the same.
The business benefits from a restaurant licence.
Further details relating to the business can be obtained from the website
Services
(not tested prospective purchasers should rely on their own enquiries)
Mains water, electricity, drainage and gas are understood to be connected to the property.
Planning
Interested parties are advised to make their own enquiries.
The restaurant is understood to benefit from planning consent for Use Class E.
The business trades from a property that is understood to be listed.
Inventory
An inventory relating to the fixtures and fittings included in the sale of the business is available from the selling agents upon request.
The leasehold business comprises of a very well presented 29 cover restaurant that is arranged to provide an open plan dining area with bar and a commercial kitchen and toilet and ancillary accommodation.
The business trades from a ground floor lock up shop unit that provides a Total Net Internal Floor Area of approximately 679 ft sq (63.07 m sq). It is arranged as a restaurant area with a Total Net Internal Floor Area of approximately 428 ft sq (39.76 m sq) with a toilet. There is then a fully fitted commercial kitchen with a Total Net Internal Floor Area of approximately 193 ft sq (17.93 m sq) that has a toilet and preparation/stores.
The ground floor restaurant premises forms part of an attractive listed property that is of traditional construction being of brick construction under a slate roof cover with a fully glazed shop front to the restaurant.
An internal inspection is recommended to fully understand the quality of the restaurant premises.
Location
The business is prominently located fronting onto Hills Lane in the town centre of the sought after town of Shrewsbury. The business is located adjacent to several of the town centre public car parks and located within proximity of Rowley’s Museum. The surrounding occupiers include Ten and Six, KFC and a variety of retail and leisure based occupiers. The business is located within proximity of all local amenities. The business is located just off Barker Street which serves as one of the main arterial roads serving the town centre of Shrewsbury.
Shrewsbury is the County Town of Shropshire and has a significant catchment population as well as acting as an administrative and tourist centre. The town is sat on the River Severn and had a population of 76,782 at the 2021 census.
The town is located approximately 48 miles west of the City of Birmingham and approximately 40 miles south of the City of Chester. There is access to the national road network via the A5 (M54 link road).
Terms
The business is offered for sale leasehold and is currently subject to a lease for a term of 7 years from 21st of June 2018. The current rent is £9,500 per annum. The lease is granted on Tenants Full Repairing and Insuring terms.
The landlord is willing to grant a new lease at the lease expiry on terms to be agreed further details are available from the selling agents upon request.
Business
The business is reluctantly offered for sale as a genuine retirement sale and has been under the ownership of the existing proprietors for over 25 years. The business is run as a family restaurant and is run by the existing proprietors with no staff. It offers a unique highly profitable restaurant business that has established an enviable reputation as an Italian restaurant. The business offers the very best in authentic Italian fine dinning and holds 2 AA rosettes
The business has the current opening hours of
Lunchtimes
Friday and Saturday- 12pm to 1.45pm
Evenings
Wednesday to Sunday- 6.30 pm to closing
The restaurant is highly profitable with a turnover of approximately £207,500 in the last financial year and a gross profit of approximately 54 % and a significant net profit. Further financial information is available from the selling agents upon request including audited accounts.
The outstanding opportunity that the business provides can only be appreciated by undertaking an inspection of the same.
The business benefits from a restaurant licence.
Further details relating to the business can be obtained from the website
Services
(not tested prospective purchasers should rely on their own enquiries)
Mains water, electricity, drainage and gas are understood to be connected to the property.
Planning
Interested parties are advised to make their own enquiries.
The restaurant is understood to benefit from planning consent for Use Class E.
The business trades from a property that is understood to be listed.
Inventory
An inventory relating to the fixtures and fittings included in the sale of the business is available from the selling agents upon request.
Property information from this agent
About this agent
Halls - Commercial Property
Halls Holdings House, Bowmen Way, Battlefield
Shrewsbury, Shropshire
SY4 3DR
01743 534860Halls Commercial provides a range of specialist commercial property services to clients of all sizes across the UK. We have a comprehensive knowledge of our markets developed over many years operating in this sector. Our service is forward thinking, personal and professional, designed to achieve the best results for our clients whatever their requirements. Although we operate nationwide, we retain a particular emphasis on the Midlands. Agency Services Our commercial agency team are on hand to offer friendly advice and market appraisals, helping you buy and sell commercial property throughout Shropshire, Worcestershire, Mid Wales, the West Midlands and beyond. We advise investors and developers on selling and acquiring commercial property, while also assisting with the acquisition of new premises or disposing of unwanted space. From offices and retail to industrial and leisure-based properties, we can guide you through the sale of all types of commercial property. Offering advice at every stage, we will help you find the best route to market and give you advice on how to attract the right buyers. We can also give guidance on development land, whether owner occupied or held as an investment. With strong links to buyers, our skilled and knowledgeable team are on hand to advise from start to finish. This includes guidance on any works required prior to sale, including applications for planning consent, refurbishment programmes and tenant disputes. Management Services Offering a strategic approach, we always have your future needs in mind. Whether you’re an experienced landlord or a one-off investor, we understand that your priority is to increase the value of your investment while minimising void periods and building a strong tenant profile. Working closely with our in-house marketing and PR team, we have a comprehensive tenant vetting process to help minimise your risks. If you’re looking to expand your commercial property portfolio, we will take the time needed to gain a full understanding of your needs and match you with properties suited to your business requirements within your timescales. Professional Property Services Halls Commercial is a team of RICS Registered Valuers with professional indemnity insurance cover of £10 million. As you would expect we are on the valuation panels of most of the major banks including Barclays, Lloyds, Royal Bank of Scotland, HSBC, NatWest, Handelsbanken, and Clydesdale. Our experienced team of valuers operates in accordance with RICS Valuation Standards (Red Book), International Financial Reporting Standards (IFRS) and UK GAAP and alongside the years of experience across our Commercial team, our valuations are backed by the latest valuation and appraisal software.