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Popular Restaurant Serving Unique Brazilian Rodizio For Sale

Staines-Upon-Thames, Middlesex
Asking Price:
£72,500
Sales Revenue:
£253,046
Cash Flow:
Available on request

Business
Hilton Smythe welcomes to the market Porto Ricco.

Porto Ricco is a popular restaurant, serving a unique Brazilian Rodizio experience, they pride themselves on their quality meats and traditional freshly prepared dishes.

The restaurant has been managed by the current owner since 2005 and due to the longevity of the business, they have a very loyal customer base with the majority of their business being repeat customers from the local area. The restaurant provide circa 70 covers and has seating for 4 outside.

The business provide an eat-in service and have just started using Just Eat for collection orders which is proving to be fruitful.

Porto Ricco boasts fantastic reviews on social sites such as:
5.5 stars out of 6 - 52 reviews Just Eat
4.5 stars out of 5 - 283 reviews TripAdvisor
4.5 stars out of 5 - 121 reviews Facebook

Scope to Improve:
• New advertising and marketing campaign
• Maximise the use of social media
• Extend the opening hours to include breakfast and lunch
• Explore online discounters such as Wowcher and Groupon.

The current owner has advised that there is a lot of regeneration in the surrounding area, with a new hotel opposite and 2 housing developments due to start completing in spring 2019.

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Porto Ricco is located along the High Street in Staines. The premises is situated on a busy road which allows excellent visibility to passing traffic.

Staines-upon-Thames is a town on the River Thames in Surrey. Historically part of Middlesex. The town is within the western bounds of the M25 motorway, 17 miles south-west of Charing Cross.

Porto Ricco is 0.3 miles walking distance from Staines train station which provides a South Western service calling at stations such as Twickenham, Clapham Junction and London Waterloo.

Customers can also benefit from convenient metered parking a short walk from the restaurant.

Premises
The business is a single storey end of terrace property with fully glazed windows and door which creates a light and airy feeling.

As you enter the premises you are greeted with a seating area which leads to the counter housing the till system, coffee maker and drinks chillers.

Behind the counter is the kitchen, storage area and customer toilets.

Kitchen includes:
• Stainless steel double freezer
• 6 burner cookers
• Griddle
• 23 skewer grills
• Dishwasher
• Extractor
• Microwave
• Dessert chiller display
• Meat fridge
• Chest freezer
• 2 x upright drinks display chillers
• 2 x under counter drinks display chillers
• Coffee machine
• Projector
• Till system

Tenure
We are advised that Porto Ricco is being offered a Leasehold business with 2 years remaining from the original 15 years Lease, however the current owner has advised this can be easily renewed to a new 15-year Lease.

We are advised the rent is £18,000 per annum which is very reasonable given the size of the premises and the current business rate payable is £6,890 per annum

Hours
Monday: Closed
Tuesday - Saturday: 5:30 pm - 10:30 pm
Sunday: 11:30 am - 4.00 pm

The owners will be extending their lunchtime trade from 1st March giving the business more potential.

Staff
The business is managed by the current owner along with 2 full-time and 4 part-time members of staff

Financial Profile
Porto Ricco generates an advised turnover of £253,046 per annum with £71,976 gross profit

Assets: £35,000
SAV: £3,500

Property information

Property:

Leasehold

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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