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Bar And Restaurant With Accommodation In Altrincham For Sale

Altrincham, Greater Manchester
Asking Price:
£120,000 Furniture / Fixtures included
Sales Revenue:
£300,000
Cash Flow:
Available on request

Annual Turnover £300,000
Close to Multiples Including Vue Cinema
Substantial Property over 3 Storeys
Seating For 88 Over Two Floors
Excellent Trip Advisor Reviews
2 Bedroom Accommodation
Can be run under current management
70% Wet Sales 30% Dry Sales
Scope to Increase Trading Hours
Retirement Sale
EPC - D

REF 6314 – Leasehold Bar & Restaurant With Accommodation

Blacks Brokers are pleased to bring to the market this leasehold bar & restaurant with accommodation located in a very busy and much sought-after area of Altrincham, Greater Manchester.

INTRODUCTION

Rustic was established by our client in 2015, with a business of a similar nature situated here for over 30 years. The business has become a very well-known bar and restaurant with a large base of regular customers, a strong online presence and it has earned many excellent online reviews on Facebook, Trip Advisor and Google.

LOCATION

The business is positioned on Stamford New Road within a busy parade of shops and other businesses. The area is densely populated commercially with large multiples including Vue Cinemas, Wetherspoon and Sainsburys close by. Altrincham is well linked by the M56 and A56 with excellent public transport links – Altrincham Interchange is within walking distance of the bar and parking is available immediately outside.

REASON FOR SALE

The business is only being offered for sale due the retirement of one of the two owner-operators. The business has become of a size that will suit a team of people rather than a single hands-on owner operator. Therefore, the business is offered for sale and presents an excellent opportunity for a new owner-operating team to take the business to the next level.

LEASE

The current lease is ten years with rent reviews every five. The current lease began in 2015 at a cost of £461 per week. This lease includes the two bedroom accommodation on the second floor. Please note this is currently under refurbishment and will require an application for residential status (correct as of May 2018).

BUILDING LAYOUT AND DESIGN

Rustic operates from the ground and first floor of a large, three-storey, mid-terraced property with partially glazed frontage which can be fully opened up (in hot weather). Inside, the main bar and restaurant area within the ground floor offers seating for 58 – this is spacious and very nicely presented, with wooden flooring tables and bar in place. The servery bar has six handpumps, eleven tap draught system and EPOS till. The restaurant has a rustic theme that continues throughout. The kitchen is positioned to the rear of the ground floor and this is fully-equipped with commercial ovens, fryer, grill and much more. The first floor is finished to the same standard as the ground floor with the same rustic theme and offers seating for an additional 30 customers. The toilets are positioned within this floor. Each area is presented to a high standard and has a music system in place along with four-point CCTV.

The second floor is currently used as storage and is undergoing refurbishment to convert to accommodation. As mentioned above, this requires further work and an application for residential status.

STAFF

The business is currently operating with four members of staff – this includes our client working on a full-time basis as the chef.

FINANCIAL DETAILS

Rustic has traded solidly since opening. We are advised that the business currently has annual turnover of £300,000. The sales are split 70% drink and 30% food and around 10% of takings are generated via Deliveroo. It is to be stressed that the business is currently being run at a pace to suit our client’s lifestyle and there is scope and demand to introduce longer opening times to include lunchtime trade.

SUMMARY

This leasehold business is well-established with a superb reputation and customer base. There is plenty of scope to develop the business further with the introduction of lunchtime opening, a new menu and event catering from within the first floor which would be rented out as a private function room. There is also scope for owners living accommodation within the second floor. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Property information

Property:

Leasehold

Business Operation

Trading hours:

Mon - Closed
Tue - Thur - 4pm - 11pm
Fri - 4pm - 12am
Sat - 2pm - 12am
Sun - 2pm - 11pm

Contact Information

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    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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