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Reference R8673

Italian Restaurant in St Ives For Sale


Register to see map and to make an appointment Excellent trading position, sought after CAMBRIDGESHIRE ST IVES

Price 135,000 / 575,000

Features

Detached Licensed Italian Restaurant Plus Takeaway & Delivery

The business occupies an excellent trading position in this sought after Cambridgeshire town.

The Restaurant has been in the same hands for the past 30 years and mainly caters for pizzas & some pasta dishes.

Car parking at rear for 4 cars

Entrance to GROUND FLOOR RESTAURANT with full gas fired central heating, tiled floor, ceiling lighting, 2 ceiling fans. 2 air conditioning units. Tables & chairs providing seating for 45 persons. Salad bar. BAR area bar with wooden front, 2 group coffee machine, coffee grinder, sink, upright double door glass fronted display fridge (owned).

LEVEL KITCHEN with non-slip floor, tiled walls, 1 single deck pizza oven with conveyor belt, in addition there is a 1 deck pizza oven, 4-burner gas cooker with oven, double deep fryer, griddle, Rondo pizza roller, Hobart 60lb mixer, 2-door stainless steel Fosters topping table with refrigerated topping section, 1 upright deep freezer, 1 additional fridge etc.

Ladies' & gentlemen's cloakrooms each with w.c. & wash hand basin

Turnover

WE UNDERSTAND the vendor enjoys a good turnover, full details of which will be discussed upon inspection. We understand that approximately 75% of the turnover is in respect of takeaway & delivery.

Staff

The restaurant is at present operated by a husband & wife team with the assistance of 1 part time kitchen staff (evenings) plus 4 part time waiters evenings. In addition there are 3 part time drivers employed.

Trading Hours

11 a.m. - 11 p.m. seven days per week

Accommodation

Internal staircase to first floor area comprising:

2 large rooms plus 1 additional small room
In addition there is a shower unit

In our opinion this area could readily be used as private living accommodation, if desired.

Outside

Car parking at rear for 4 cars

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 20 years full repairing and insuring lease at a rental of 23,500 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years. We understand the vendor is prepared to grant a shorter lease.

AS STATED THE RESTAURANT HAS BEEN IN THE SAME HANDS FOR THE PAST 30 YEARS AND IS NOW SOLELY OFFERED FOR SALE DUE TO RETIREMENT.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS 135,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

OR COMPLETE WITH THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS 575,000 plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 67,500 (lease) 402,500 (freehold) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

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