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For Sale

Popular Restaurant, Town Centre, Lurgan, Armagh, BT66 8AA

Offers around

£20,000

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Restaurant/Cafe
E 118
EPC Rating

Location of Popular Restaurant

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features

  • New San Marco espresso machine
  • Stainless steel kitchen fittings
  • Sixty covers

description

Business description

This independent restaurant and carry out has been established for app. 35 years and specialises in quality food currently targeting day time trade.

The business is well established with an excellent reputation and is based in an enviable town centre location attracting a large amount of new and repeat business from the local area.

Successfully established as a quality restaurant the experienced staff offer friendly, personal and professional service to their customers, with every effort made in order to satisfy the customer’s individual requirements.

With an excellent reputation and large customer base there are numerous opportunities for expansion awaiting the successful buyer.

Customer Service:

The owners have built a reputation based on excellent customer service and attention to detail.

Key Strengths:

A prestigious location in a busy town centre has been a key advantage in securing business. The site experiences a large amount of passing trade. Good products and service are both elements in the success of the business but an ideal location has maximised the effect of these factors.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendors and all interested parties under the auspices of Martin Anderson Property & Mortgages.

Property information:

Situated in a town centre location the leasehold shop premises are welcoming and well fitted.

Leasehold Lease terms:

Annual rent: £5,000
NAV £11,100

Business Operation / Expansion potential:

Further broadening of the product ranges will create opportunities for increasing revenue. In addition to this, extending the opening hours will present immediate possibilities for generating new business without the need for any significant outlay. The shop is ideally located and has been proven to capture a large amount of business from passing trade. Projections for future business are strong, the current owners have advised potential profitability could be doubled by a new owner with energy and enthusiasm. An attraction is the unrestricted on-street evening parking.

Competition / Market:

Much of the turnover has been gained as a result of passing trade and subsequent word of mouth. To date the owners have spent limited money on marketing, concentrating on periodic local paper advertisements.

Reasons for selling:

Retirement

Trading hours:

Monday – Saturday: 9.00am - 5.00pm

Employees:

Five part time staff are employed at all times,

Year established:

1978

Other information / Support & training:

The current owners are prepared to provide training and handover to the new owner to make certain the excellent name and trade of the business continues.

MORTGAGE ADVICE: MARTIN ANDERSON ESTATE AGENTS are pleased to offer an independent mortgage service. Please ask for details.

In accordance with Section 21 of the Estate Agents Act 1979, I hereby declare there is a family connection in relation to the sale of this business. The Director of this firm is related to the owner of the business.

Disclaimer:

These particulars, whilst believed to be accurate are set out as a general guideline and do not constitute any part of an offer or contract. Intending Purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. Please note that we have not tested any apparatus, equipment, fixtures, fittings or services including gas central heating and so cannot verify they are in working order or fit for their purpose. Furthermore, Solicitors should confirm moveable items described in the sales particulars and, in fact, included in the sale since circumstances do change during the marketing or negotiations. Although we try to ensure accuracy, if measurements are used in this listing, they may be approximate. Therefore if intending Purchasers need accurate measurements to order carpeting or to ensure existing furniture will fit, they should take such measurements themselves. Photographs are reproduced general information and it must not be inferred that any item is included for sale with the property.

Property Costs

  • Status: For Sale
  • Offers around£20,000
  • Stamp Duty: £0*

* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer here for more information.

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Contact Agent

Martin Anderson Property & Mortgages
43 Church Place

Other costs to budget for

Wilson Nesbitt Solicitors

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