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Restaurant for sale

Windy Bank, Colne, Lancashire, BB8

£29,990
172 sq. m.

Property Description

Commercial information

  • Business for sale
  • 1,851 sq ft (172 sq m)

Key features

  • LEASEHOLD
  • Licenced Bistro & Bar Town Centre Location
  • REF 13239

Full description

Tenure: Leasehold

LOCATION
Just Around the Corner is located in Colne, Lancashire.

This bistro is situated just off the main high street in the bustling town of Colne. This is a great sized property situated in a residential location, from which the business receives a generous amount of repeat loyal trade. The business also benefits from great on street parking facilities.

Colne town centre has a variety of retail stores, from well-known brands to independent stores. There are several eateries and takeaways, household stores, tattoo shop, butchers, betting shops clothing stores and much more. This is a busy town throughout the day. The town also boasts three theatres and several bars, allowing for a great nightlife.

The business is set in between the main high street and the A6068. These arterial roads bring in large amounts of footfall and passing trade. Colne has its own train station and a generous amount of bus stops with regular daily routes. The town is a short drive from Burnley, Blackburn and Keighley.

BUSINESS
Hilton Smythe welcomes to the market Just Around The Corner. This popular bistro/bar was originally established in 2016. This is an exceptional business that has been completed to a very high standard. Our client is now reluctantly selling the business, due to family commitments.

The business runs as a licenced bistro and bar in a great town centre location. The premises is licenced from 4:30pm up till 11:30pm. The business sells a variety of bottled beers, spirits and hot and cold drinks as well as a varied food menu. The bistro sells pub classic dishes with a modern twist. Popular dishes include fish and chips, sandwiches, burgers, Mexican dishes, salads, tasty desserts as well as a separate tapas menu.

Just Around The Corner also caters for functions, weddings, birthdays and other celebrations. This is a popular service that the new owner could look to expand. Our client currently offers live music and open mic nights some evening, this is popular with the locals and attracts large crowds.

The business is currently generating an advised turnover of 50,200, with a gross profit of 56%, as of the 2016 accounts. In the past this business has seen a larger turnover; this has recently decreased due our client's commitments.

There is huge scope to massively increase turnover. Our client lives a distance away from the property and on some nights, has had to close earlier. The bistro is also currently open 5 days a week.

With a purchaser, closer to the business or with management in place, the owner could take advantage of the long licencing hours 7 days a week. We feel the new owner could also consider expanding licence hours, adding beer pumps, opening earlier and closing later.

On the first floor of the bistro, there is a possible function room with bar. The upper floor has separate utility meters, fitted toilets and shower room. This could be sublet as a commercial property or studio apartment if not required by the purchaser.

The business has a great online presence with excellent TripAdvisor reviews and an up to date Facebook page. Social media is a great way of advertising a business for free. The page is regularly updated with photos, events, promotions and special offers. The page has over 400 followers.

This is a fantastic opportunity that is not to be missed. Hilton Smythe highly advise early viewing to take in the full potential of the trade.

PREMISES
Just Around The Corner is set in a raised property, 5 steps lead up to the main entrance. The property is well signed and there are specials boards on the railings to the front. This is a substantial stone built detached property.

The property briefly comprises of: -

On entrance is the main bar area where customers can come for a drink and a light bite. There are approximately 20 covers in this area, this could be increased with a different layout. There are sofas and a large bar in this room. The front window allows for a bright interior. The ladies and gent's toilets are also located just off the seating area.

Access to the kitchen is at the back of the room and there are stairs leading to a previously used function room. This is an excellent sized property that has been completed to a very high standard.

Medium sized commercial kitchen with, ovens, deep fat fryers, grills, hot plate, microwave, fridge and freezers.

From the bar area, to the left is the main bistro. This room has a large number of tables and chairs for dining.

To the side and back of the premises is a seating area come beer garden. This is accessible through the restaurant. This space could be utilised more to allow for more seating.

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

Original lease length: 6 years
Remaining lease length: 6 years as of 2016.
Rent: 10,400 per annum

HOURS
The business opening hours-

Monday: Closed
Tuesday: Closed
Wednesday - Saturday: 11am - 10pm
Sunday: 11am - 7pm

STAFF
The business is run and managed by our client, with the help of two part time and one full time members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of 50,200 as of the 2016 accounts.
Gross profit 56%


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