Restaurant for sale

South Bar Street, Banbury, Oxfordshire, OX16

Leasehold 215 sq. m. | £130,000

Property Description

Commercial information

  • Business for sale
  • 2,314 sq ft (215 sq m)

Key features

  • REF 13014
  • LEASEHOLD BUSINESS
  • INDIAN RESTAURANT

Full description

Tenure: Leasehold

LOCATION
Sheesh Mahal occupies substantial three storey premises, ideally located within the popular market town of Banbury in Oxfordshire. The business is located on the busy South Bar Street and is surrounded by a wealth of complementary businesses and densely populated residential areas, from which the business derives much trade. The business benefits from a high volume of footfall and passing trade, as well as off-street car parking facilities to the front of the premises.

Banbury is a market town on the River Cherwell in Oxfordshire. The town is a significant commercial and retail centre for the surrounding area, which is predominantly rural. Banbury's main industries are car components, electrical goods, plastics, food processing and printing. According to the 2011 census, the town had a residential population of 46,853.

The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Banbury railway station is approximately 1 mile away. The area is also well served by the A-roads, with the business being located on the A361, which links to the national A-road and motorway networks. Chipping Norton is approximately 12 miles away and Oxford is 29 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and award winning Indian restaurant and takeaway business, which is ideally located within Banbury, Oxfordshire.

The business was originally established by our client in 1984. Only now is the business, reluctantly, being offered to the market, due to our client's desire for a well-deserved retirement. The business currently operates 7 days per week and generates a turnover in the region of 199,250 per annum, with a gross profit of approximately 63%.

Our client offers a wide variety of traditional Indian recipes including Chicken Tikka, Tandoori Chicken, Fish Lahori, King Prawn Makhani, Lamb Rogan Josh and Balti dishes, to name a few. All the fayre is made using only the freshest and most authentic ingredients, with each dish made to order.

The property boasts 215 sq. metres of floor space, with the main restaurant and commercial kitchen to the ground floor. To the first and second floors are two 2 x bedroom flats, one of which is used by the restaurant staff, the other is rented out for 10,000 per annum rent. Our client has recently spent 124,000 refurbishing the premises to a very high standard.

The business has built up an excellent reputation within the area and further afield for the very high quality of the food and service offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations. The business has got excellent reviews on the popular travel website Trip Adviser.

We feel there is scope to increase the turnover by introducing lunch services and offering a delivery service within the area. A new owner could also embark on a modest marketing campaign to highlight the excellent food and services offered. There is also scope to expand the restaurant to the first floor.

This is an excellent opportunity for a new owner to take this already popular restaurant and takeaway business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.

PREMISES
Substantial three-storey premises, ideally located within a prime trading location, briefly comprising:

Ground floor:

Reception/bar area, very well styled and beautifully decorated.
Main bar, with two sofas.
Main restaurant, which is a large room with another room around the corner, behind the bar.
Controlled lighting from the bar.
Ceiling light panel in the middle of the room.
Skirting board lighting.
Night star lights and chandeliers.
Ladies and gents' WCs.

Commercial kitchen with:

Access from back for deliveries.
Multiple stainless steel preparation tables.
2 x stainless steel sink units.
6 x burner hob cooker.
Large extraction system.
Tandoori oven.
2 x counter height refrigerators with stainless steel worktops.
Triple door stainless steel refrigerator.
Double door stainless steel refrigerator.
Chest freezer.

First floor:

Large flat, to sleep 4-5 persons.

This flat is currently used by the restaurant staff.

Second floor:

Two-bedroom flat.

Currently rented out to the same person for many years at a rent of 10,000 per annum.

External:

Garden area to front.
Parking to front and rear of property.

TENURE
We are advised Leasehold:

New lease to be negotiated.

HOURS
The business is open:

Monday - Thursday: 6.00pm - 12.00am
Friday - Saturday: 4.30pm - 12.00am
Sunday: 6.00pm - 12.00am

STAFF
The business is owner run and managed with 6-8 staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of 199,250 per annum, with a gross profit of approximately 63%.


Nearest stations

  • Banbury (0.5 mi)
  • Kings Sutton (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Banbury (0.5 mi)
  • Kings Sutton (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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