Restaurant for sale

Riverbank RestaurantGoods Lane,Newton Stewart,DG8

£349,950
125 sq. m.

Property Description

Commercial information

  • Business for sale
  • 1,345 sq ft (125 sq m)

Key features

  • REF: 2540
  • FREEHOLD RESTAURANT

Full description

Tenure: Freehold

LOCATION
Riverbank Restaurant and River Bank Cottage occupy substantial properties in a prime trading position within the town of Newton Stewart, Dumfries and Galloway. The restaurant is surrounded by a mix of commercial and residential properties, including the town's two very busy supermarkets; therefore the business benefits from a very high volume of footfall and passing trade. The local amenities, including schools and leisure facilities are in the vicinity.

Newton Stewart is a former burgh on the Machars peninsula in Dumfries and Galloway, southwest Scotland. The town lies round the River Cree and is sometimes referred to as the Gateway to the Galloway Hills.

The area of the business is well-served by the public transport system, with bus stops within easy walking distance of the property. The business also boasts easy access to the A-roads, with both the A-714 and A75 being within easy driving distance, which links to the national A-road and motorway networks. Stranraer is approximately 25½ miles away and Dumfries is 47 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this popular restaurant, café, coffee shop and tea room business, set in a prominent trading location in Newton Stewart, Dumfries and Galloway.

The business was established in 1990 and has been in our clients careful ownership since 2004. Only now is the business being offered to the market due to our clients desire for a well-deserved retirement. The business operates 6 days per week and as per the 2016 accounts generated a turnover in the region of £140,200, with a gross profit of approximately 68%.

The turnover is generated from the sale of high quality and freshly prepared fayre including all day breakfasts, lunchtime specials, soup, sandwiches, toasties, Paninis, hot meals, salads, jacket potatoes and kids meals, to name a few, as well as a wide selection of beverages.

The restaurant/café boasts up to 50 covers and offers stunning views of the countryside. The turnover is further increased by the sub-letting of a retail unit to the ground floor, which is currently being used as a hair salon, generating £695 per month.

Included in the sale is Riverbank Cottage, which is set over two floors and offers a master bedroom with en-suite facilities, a double bedroom, bathroom and open plan living/dining/kitchen area. The cottage is also currently let out generating £430 per month, although a new owner could use this as private accommodation, if required.

The business has built up an enviable reputation within the area for the high quality of the fayre offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel the turnover could be increased by extending the opening hours of the business to offer evening dining, as well as opening on Sundays. The business would also benefit from a small marketing campaign to highlight the business and the services offered. A new owner could also apply for an alcohol licence, as the business used to have one but our clients decided not to renew.

This is an excellent opportunity for a new owner to take this already thriving and popular business, with an additional retail unit and cottage accommodation to the next level; therefore early viewing must come highly recommended to avoid disappointment.

PREMISES
Prominent two storey property, briefly comprising:

Riverbank Restaurant/retail unit with:

Ground floor:

Retail area, currently used as a hair salon.
Office.
Dry goods/staff area.
WC with wash hand basin.
Disabled WC with wash hand basin.

First floor with:

Main restaurant/café area with up to 50 covers.
Servery area.
Well-equipped and modern kitchen.

Equipment included:

San Marco coffee machine.
6 x burner gas cooker.
Grill.
Lincat boiler.
Single under counter refrigerator.
Double under counter refrigerator.
Upright display refrigerator.
Stainless steel refrigerator.
Dishwasher.
2 x microwave ovens.
Double deep fat fryer.
Back up deep fat fryer.
2 x Buffalo soup kettles.
Blend Tech smoothie machine/food mixer.
2 x chest freezers.
Upright freezer.
7 x stainless steel preparation tables.
Bain-Marie.
Food mixer.
Berco water boiler.
Electronic cash register.

Riverbank cottage with:

Ground floor:

Master bedroom with en-suite facilities.
Double bedroom.
Bathroom.

First floor with:

Open plan living area/kitchen/dining area.

The property has full gas central heating and double glazing and boasts picturesque views over the River Cree and beyond.

TENURE
We are advised Ownership.

HOURS
The restaurant/café is open:

Monday - Saturday: 9.00am - 4.00pm
Sunday: Closed

STAFF
The business is owner run and managed with 2 x full time and 7 x part time staff members.

FINANCIAL PROFILE
The business operates 6 days per week and as per the 2016 accounts generated a turnover in the region of £140,200, with a gross profit of approximately 68%.


Nearest station

  • Barrhill (15.4 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 299002 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 station

  • Barrhill (15.4 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 299002 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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