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Restaurant for sale

Queen Street,Ulverston,LA12

£25,000

Property Description

Full description

Tenure: Leasehold

EXCEPTIONAL ITALIAN RESTAURANT - CUMBRIA
Early viewing is essential to fully appreciate
Situated in the beautiful area of Ulverston
High amount of regular & repeat trade
Advised annual turnover of 150,000
Scope for further development
Ideal partnership opportunity
Genuine reason for sale
LEASEHOLD


Location

The business is located in the town centre in the beautiful South Lakes destination of Ulverston. It is ideally located and sits in a beautiful town centre location. Ulverston is a beautiful and popular market town in Cumbria. It is well known as the festival town of England hosting many and varied events throughout the year. Ulverston is equally well known for its access to the beautiful walks of the Lake District and indeed its many historical buildings. The town is the home of the Laurel and Hardy museum and the birth place of comedian Stan Laurel. A statue of the pair was unveiled in 2009 by comedian Ken Dodd and has proved to be a popular destination for enthusiasts and tourists alike. Ulverston has been bustling for over a 1000 years, its cobbled streets and myriad of streets and local businesses compliment the atmosphere. The town is reached easily and is linked by the A590 to Barrow in Furness and the M6 providing easy access to the North West motorway network system and to the North in Carlisle and Scotland.


Business History

Meridian Business Sales are delighted to offer for sale this superb restaurant which was established by our clients in 2006. Our clients are reluctantly offering the business to the market due to their desire to concentrate on other business interests. Since the business was established they have invested time and money in the business and premises to the point where it is in full walk in condition. They have continually developed and improved the business, introducing new lines and income streams which has enhanced the business massively and in particular shows in the year on year increase in turnover and profitability. Our clients inform us that annual turnover currently runs at 150,000 which is derived from the sale of a delicious Italian inspired menu serving a range of dishes along with alcoholic and non-alcoholic beverages. The business enjoys a strong reputation within the local community and as such has a high level of regular and repeat trade. This is a superb opportunity to purchase an established business, which is a great base to build upon and as such early viewing is highly recommended as businesses of this calibre rarely stay on the market for long.


Financial Profile

Turnover: 150,000pa
Gross profit: 84,000


Tenure
Leasehold
Original length: 10 years
Remaining: 3 years

New lease to be negotiated with the landlord with rent of 19,000pa


Opening Hours

Monday: 5:00pm - 9:00pm
Tuesday: 5:00pm - 9:00pm
Wednesday: 5:00pm - 9:00pm
Thursday: 5:00pm - 9:00pm
Friday: 5:00pm - 9:00pm
Saturday: 5:00pm - 9:00pm
Sunday: Sunday


Accommodation

Well presented glass fronted property, briefly comprising:

GROUND FLOOR
Secure entrance leading to:

Open plan dining area


Fitted bar servery

Ample dining tables & chairs for approximately 40 covers

Toilet facilities

Fully fitted commercial kitchen
Preparation room
Pantry

EXTERNAL
Large communal car park within 100 metres

Map & Street View

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