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Restaurant for sale

Heathcoat Street, Nottingham, Nottinghamshire, NG1

Sold STC £74,950
130 sq. m.

Property Description

Commercial information

  • Business for sale
  • 1,399 sq ft (130 sq m)
  • Use class orders: A3 Restaurants and Cafes

Key features

  • REF 12914
  • LEASEHOLD BUSINESS
  • TAPAS RESTAURANT

Full description

Tenure: Leasehold

LOCATION
The Tapastry occupies substantial ground floor premises, ideally located within Hockley, near the centre of Nottingham. The business is surrounded by a wealth of complimentary shops and businesses, therefore, benefiting from a high volume of footfall and passing trade. The business further benefits from good car parking facilities within the area.

Hockley is an area near the centre of Nottingham. It is a vibrant, modern section of the city, with many bars, restaurants and trendy clothes shops. It has been described as 'the Soho of Nottingham'. Goosegate, which is the main street in Hockley, is full of European style cafes and independent businesses.

The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Nottingham railway station is less than one mile away. The area is also well served by the A-roads, with the A60 being within close proximity, which links to the national A-road and motorway networks. Derby is approximately 16 miles away and Newark-on-Trent is 22 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this popular and busy tapas tavern, which is ideally located within Hockley, Nottingham.

The business was established by our client in 2014 and is only now being offered to the market, due to our client's other business interests. The business operates 5 days per week and generates a turnover in the region of 144,000 per annum, The business has a projected turnover of 158,000 for the next financial year..

Our client offers an eclectic range of freshly cooked, traditional, Spanish tapas, as well as their own creations, from travels around Europe and the Mediterranean. The property boasts approximately 130 sq. metres of floor space, with the main restaurant/bar area with 42 covers and a full commercial kitchen. The premises are very well maintained and decorated to a high standard.

The business has built up an excellent reputation within the area 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.

We feel there is scope to increase the turnover by extending the opening hours, perhaps by opening on Sundays and Mondays. A new owner could also embark on modest marketing campaign to highlight the excellent fayre and service offered. The business already has a very informative website in place to promote the business at www.thetapastry.co.uk, which incorporates online booking facilities.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving business to the next level; therefore, early viewing must come highly recommended to avoid disappointment.

PREMISES
Substantial ground floor premises, in a prime trading location, briefly comprising:

Split level restaurant/bar area with:

86 covers plus outside seating.
Bar with 3 x points of dispense, a range of wines, spirits, mixers, under counter refrigerator, wine chiller unit and EPOS cash register.

Service area with coffee machine, under counter refrigerator, shelving and CCTV monitor with 4 x cameras.

Office with seating, desk and storage area.

Commercial kitchen with:

6 x burner cooker.
Hot cabinet with lamp warmer.
Hot plate.
Two pot Bain Marie.
Tall stainless steel refrigerator.
Under counter freezer.
Dessert refrigerator.
Triple door cabinet refrigerator.
Microwave oven.
Counter top deep fat fryer.
3 x stainless steel preparation tables.
Sink unit.
New boiler.

Pot wash area with commercial dishwasher, commercial sink unit, hand wash basin, 2 x stainless steel preparation tables and a stainless steel trolley.

Refrigerator/freezer room with 2 x chest freezers, 4 x upright refrigerators, drinks refrigerator and ice machine.

The cellar has been converted by our client, this now allows for an extra 40 seats.

Dry store, which is fully racked and shelved, basement room.

External:

Outside seating area for an additional 8 x covers.

TENURE
We are advised Leasehold:

Original lease length: 6 years
Remaining lease length: 6 years as of 2017.
Rent: 13,800 per annum

HOURS
The business is open:

Monday: Closed
Tuesday: Closed
Wednesday - Friday: 6.00pm - 10.00pm
Saturday: 12.00pm - 12.00am
Sunday: Closed


STAFF
The business is owner run and managed with 2 x full time and 3 x part time staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of 144,000 per annum. The business has a projected turnover of 158,000 for the next financial year.


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