Modern Restaurant and Cocktail Bar in Penarth

Penarth, South Wales
REF: R07651

Asking Price:
£99,950
Annual Turnover:
£400,000
Annual Net Profit:
TBC
REF: R07651

Overview

Tenure:
Leasehold
Established:
TBC
  • Fantastic local reputation
  • Large, loyal customer base
  • Brilliant location
  • Spacious, well- equipped premises
  • Recently refurbished

The business for sale is a popular, upmarket bar and fusion restaurant located in Penarth, South Wales. First established in 2016, the business has built up an unbeatable reputation in the local area, with industry bodies such as TripAdvisor crowning them the winner of their Certificate of Excellence 2018 - 2019.

Serving food five days a week, customers can choose from a wide variety of freshly cooked, stunningly presented dishes. Offering light bites for lunch, a sophisticated a la carte menu, afternoon teas, and even Sunday lunches, customers can enjoy their food in a modern, recently renovated premises. Also offering an extensive drinks menu, the business's bar opens on an evening to serve their signature dry-ice cocktails, wines, and beers.

Currently able to accommodate up to 55 covers, the restaurant could easily be reconfigured to seat up to 80 if necessary. Responding to the recent COVID-19 pandemic, the current owners have used their initiative to launch a takeaway service, proving to be very popular so far.

Due to the current owner needing a quick sale, the asking has been brought down from £150,000 and is open to offers. The business is offered on a leasehold basis with rent payable at a rate of £25,000 P/A. A new lease is to be negotiated upon a new owner taking over.

Ideally situated in a central location, the business benefits from parking nearby and good links to public transport.

Housed in a listed building full of character and original features, customers enter through a set of double doors into a beautiful glass lobby. Greeted by an intimate dining area and a small bar with seating, the interior is bespoke with a French, chic feel. An extended back bar stretches the length of the premises, with a generously sized, fully fitted kitchen to the rear (with its own exit). To the back of the property is a staff area, laundry, and access to the cellar. A staircase rises to the first floor where you will find the customer toilets.

All of the relevant fixtures, fittings, and equipment are to be included in the advertised sale price - the estimated value of which is said to be in excess of £160,000. This includes; seating, tables, bar equipment, and kitchen appliances as well as all wet and dry stock.

This would be a fantastic opportunity for an individual with experience in the catering industry looking for a profitable business with a fantastic reputation.

Already operating a modern website with online booking system, increased digital marketing on a local level could introduce even more customers to this already popular restaurant and bar.

Whilst officially open 5 days a week, the business offers a private hire service on a Monday and Tuesday. Having hosted a number of events in the past, from weddings to birthdays and more, a more aggressive focus on this area of the business could also see an increase in profit margins.

The current owners have advised they would be willing to stay on for a transitional period, should a buyer require it.

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  • Nearby car parking
  • Good transport links
  • Centrally located
  • High footfall
  • Close to local businesses
Rent
£25,000
Rates
£5,258
Lease Term
5 yrs
Lease Expiry
###
Square Footage
TBC
Accommodation Included
TBC
Premises Licence
TBC
Property Value
TBC
Planning
TBC
EPC
TBC

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Accounts
XXXX
Trading Entity
XXXX
Current Ownership
XXXX
Management Structure
XXXX
Number of Employees
XXXX

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