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Restaurant for sale

Front Street, Corbridge, Northumberland, NE45

278 sq. m. | £175,000

Property Description

Commercial information

  • Business for sale
  • 2,992 sq ft (278 sq m)

Key features

  • REF: 12627
  • LEASEHOLD
  • RESTAURANT

Full description

Tenure: Leasehold

BUSINESS
Hilton Smythe welcomes to the market Artisam. This restaurant was originally established in the 1970's and was taken over by our client in 2013. The owner is now looking to sell the business due to the desire to focus on other interests.

The restaurant specialises in Asian infused cuisines. They offer an extensive high quality Chinese menu. The business prides themselves on exception food and drink. The business sells a variety of dishes such as Spicy salt & pepper chicken fillets, Deep fried cod fillets in black bean sauce, Thai Green Chicken Curry, Pan-fried Sea Bass and much more. This is a fantastic menu that attracts large flocks of customers. Our client is also developing healthier options for the menu.

The restaurant occupies a beautiful property that has a warm welcoming feel. The stone walls and high ceilings give off a feel of quality and tradition. We are advised that this is a successful property generating an advised turnover of around 300,000 per annum with a gross profit of around 82%.

This is a healthy turnover that could be increased. One way we feel the purchaser could do this would be to introduce a take-away option. The property comes fully equipped to cater for this option.

The sale includes a website. www.artisam-corbridge.co.uk The site has a generous amount of information, there is also a menu available to download. This is a great site that is easy to use.

This is an affluent location allowing for a popular restaurant. Hilton Smythe highly advise early viewing to avoid disappointment.


LOCATION
Artisam is located in a residential area of Corbridge, Northumberland.

This is a fantastic location for a busy restaurant. The area receives most trade from local residents. The business is situated just off the main road where there are several other businesses. The historic Corbridge is a popular tourist location due to the many historical locations. Close by there is Hadrian's Wall, Hexham Abbey and the Corbridge roman town.

The town is filled with an abundance of retail outlets to meet the demands of tourists. The business is situated close to the B6321 which is an arterial road in the town that runs from Hexham up to East Wallhouses.

The town has great public transport with bus stops close by. The town train station is also just a 10 minute walk away.

PREMISES
The business boasts a large stone built premise that looks presentable. There is a sign above the door which is visible to passing trade.

The main entrance leads in to the restaurant. To the right is the reception area where staff greet diners. The waiting area looks highly welcoming with comfy sofas and seating. The bar is through to the right where there is access to the kitchen.

To the left of the reception area is the main restaurant, with high beamed ceilings, oriental artwork and large mirrors around the walls. This seating area is for 60 covers, well-spaced across various sized tables catering for small and large bookings alike.

The large and well equipped kitchen leads to a rear yard. The kitchen also hosts the kegs for beer and larger with lines running through to the bar.

Stairs lead from the side of the bar up to the first and second floors.

The first floor is made up of the male and female toilets, and storage areas.

The second floor currently is unused.

Equipment included in the sale is as follows-
3 plate warmers
Rice cooker
Bar fridges
Ice machine
4 wok burner
2 fryers
6 hob oven
2 chest freezers
Small chest freezer
Large double freezer
Lone standing freezer
3 fridges
Fridge freezer
Refrigerated 4 door workbench
Tables & chairs
Fixtures and fittings

This is a well-presented property that has been complete to a high standard.

TENURE
We are advised the business is being sold as a Leasehold opportunity.

Original lease length: 7 years
Remaining lease length: 4 years as of 2016.
Rent: 10,000 per annum

HOURS
The business is opening hours-

Monday - Thursday: 6pm - 10:30pm
Friday & Saturday: 12pm - 2pm & 6pm - 11pm
Sunday: 6pm - 10:30pm

STAFF
The business is run and managed by our clients with the help of 9 members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of 300,000 per annum.
Gross profit 82%



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