Financial Details
Asking price: £89,450
Sales revenue: £110,000
Net profit: Undisclosed
Fixtures value: Undisclosed
Stock value: Undisclosed

  • Photograph of this business for sale

Business Description
HISTORY

• Established by vendor in 1992
• Excellent reputation locally for individual and traditional Italian cuisine
• Expansion into adjoining building providing additional capacity
• Maintained to a high standard throughout period of ownership

REASON FOR SALE

• Retirement

PRODUCTS

• Full range of Italian starters, main courses and desserts
• Specialist in pizzas and pasta dishes
• Daily specials board
• Extensive Italian wine list

CUSTOMERS

• Regular repeat customer base
• Office trade
• Day trippers and shoppers
• Mix of commercial and individual trade
• Students

SUPPLIERS

• Wholesalers specialising in supply of Italian ingredients
• Wine merchants

STRENGTHS

• Superb location
• Established repeat customer base
• Accommodation available if required
• Limited competition locally with no other individual Italian restaurants close by
• Busy trading thoroughfare with good residential and commercial mix with other restaurants and bars

DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through broker. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).
General Information
Employees:• Vendor • 2 full time staff members • Bank of casual staff as required
Trading hours:• Tues to Sat: 12pm to 2.30pm and 6pm to 11pm • Sun and Mon: Closed
Property:Leasehold
Lease terms:• Lease terms to be negotiated with incoming rent to be £12,000 per annum in year one, rising to a commercial rental of £20,000 per annum in year 2 Rent: £12,000 per annum Rates: £2,360 per annum
Location:• Prominently positioned in busy Norwich trading thoroughfare
• Unrestricted evening parking with public car parks close by
• A few minutes’ walk from the historic city centre attracting tourists and businesses
Premises Details:• A delightful and historic double terraced property full of character
• Ground floor lock up restaurant with forty five covers
• Two separate restaurant rooms
• Separate bar area
• Traditional Italian decor
• Coffee machine
• Refrigerated drinks display unit
• Separate wine store
• Ladies and Gents WCs
• Kitchen with 6 burner gas hob, 2 refrigerators, 1 freezer and separate pizza oven
• Side passage
• Yard to rear
• Two flats (one with one bedroom, the other with two bedrooms) available by separate negotiations
Expansion potential:• Additional opening on Sundays and Mondays • Opportunity to raise pricing structure • Business development activity very limited at present
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