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Fantastic Italian Restaurant And Flat In Clitheroe For Sale

Clitheroe, Lancashire
Asking Price:
£79,995 Furniture / Fixtures included
Sales Revenue:
£135,723
Cash Flow:
£43,658

Picturesque Trading Location
Annual Turnover £135,723
Gross Profit £102,549
Trading Only 4 Evenings A Week
Unrestricted Parking After 4pm
Scope To Introduce Lunch Time Service
1 Bedroom Flat Above
Seating For 30 Customers Inside
Further 15 Seats Outside
5* Food Hygiene Rating
EPC - D

REF 6420 – Leasehold Italian Restaurant & Flat

Blacks Brokers are pleased to bring to the market this leasehold Italian restaurant and flat located in the picturesque village of Whalley, Clitheroe.

Introduction

Cucina Seventy Three has been trading on King Street in Whalley since 2013. Our client established the business after seeing a gap in the market for a fine Italian restaurant in this area. The business has gained a large base of repeat customers and a superb reputation with excellent online reviews noted on Facebook, Google and Trip Advisor. The area is also popular with visitors and this brings additional, passing trade. Our client has secured excellent working relationships with local food suppliers to ensure the finest quality ingredients can be included in all traditional recipes.

Location

Whalley is a stunning area of the Ribble Valley which is well linked by the M65 and M6, public transport links are excellent and there is free parking immediately outside the business for up to two hours - this is unrestricted after 16:00. The restaurant occupies an enviable trading position on a busy main road close to a number of other complementary businesses, shops and eateries.

Reason for sale

The business would be ideally suited to a hands-on owner-operator but will soon be operated by staff only due to our client’s other business interests being higher than anticipated. Therefore, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

Lease

The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is a seven year lease which began in 2015 at a cost of £323 per week.

Building layout and design

Cucina Seventy Three operates from the ground floor of a beautifully presented, mid terraced property with private terrace to the front housing an al-fresco dining area which offers seating for fifteen. The business is well branded with classic signage displayed above a partially glazed frontage. Inside, the main restaurant and bar area is presented to a very high standard. It offers seating for thirty with a welcoming, homely feel, wooden flooring throughout and free standing tables and chairs. The kitchen is fully equipped with six burner range, fryers, pizza oven, dishwasher, ice cream freezer and much more. There are also customer toilet facilities within the ground floor.

The first floor comprises of a lounge, one bedroom, a fitted kitchen and family bathroom. The accommodation is accessed via the business and to the rear of the property is an enclosed yard.

Staff

The business is currently operating with our client in full time employment supported by two part time staff and some family members during busy periods.

Financial details

Cucina Seventy Three has traded solidly since opening. The business currently has annual turnover of £135,723 and gross profits of £102,549. Full financial details are available upon viewing.

Summary

This leasehold business is very nicely established with a superb customer base, enviable trading position and excellent reputation. There is plenty of scope to develop the business further with the introduction of longer opening hours, a strong marketing drive and a takeaway and delivery service – this is very much in demand in this area. This proposition would ideally suit an owner operator able to push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Property information

Property:

Leasehold

Business Operation

Trading hours:

Mon - Closed
Tues - Closed
Wed - 5pm - 11pm- Serving Food Till 8.30pm
Thur - 5pm -11pm - Serving Food Till 8.30pm
Fri - 5pm - Midnight- Serving Food Till 9.30pm
Sat - 5pm - Midnight- Serving Food Till 9.30pm
Sun - Closed

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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