Sold
Contemporary Fine Dining Restaurant & Bar
Hertfordshire
- Asking Price: £142,000 +SAV
-
Turnover:
The business generates an advised turnover of circa £617,000
The assets being sold with the business are worth in the region of £74,000
The average stock level is circa £10,000
- Tenure: Leasehold
CoGoGo welcomes to the market a contemporary fine dining restaurant and wine bar destination in St. Albans.
The business champions local suppliers whenever possible to bring the freshest food to the table. The wine list offers a wide variety with the addition of fine wines by the glass using the Coravin wine system and a weekly changing book of single bottle finds.
Guests are welcome to enjoy drinks in the bar, lunch or dinner in the dining room and they cater for meetings and celebrations in the restaurant and the private dining room.
The restaurant is open for dinner Tuesday to Saturday and lunch Friday to Sunday, there are no restrictions on the lease, and this is an area that should be looked at to increase the already respectable turnover. The restaurant is also available for corporate and private bookings from Monday to Sunday on request.
The restaurant is listed in the Good Food Guide 2019 stating ‘The owner delivers accomplished modern British food, clean flavours and creative dishes driven by seasonal produce of impeccable pedigree sum up the approach.’ they also won Restaurant of the Year at the SME Business Awards.
As well as its great reviews from restaurant professionals the business has many strong reviews from its customers including 4.7/5 reviews on Google from 79 reviewers, 5* reviews from all its 55 reviewers on Facebook, 4.5/5 from 395 reviews on ResDiary and there are over 120 reviews on TripAdvisor.
The restaurant is being sold with a professional website which has a full on-line booking system along with showing the full menu the restaurant has to offer.
Our client has indicated that, subject to agreement, they would be willing to stay on for a transitional period.
There are many reasons to buy including:
- A true turnkey business
- Fantastic reviews from professionals and customers
- Fully refurbished premises
- Beautiful setting
- A building of fine character
- Already a profitable business
- Many repeat customers
- Opening Mondays
- Opening lunchtime throughout the week
The business is run and managed by our client, with the help of 15 staff. This includes, bar staff, chefs and waiting staff.
Monday: Closed
Tuesday – Thursday: 6pm – 9.30pm
Friday & Saturday: 12pm – 3pm & 5.30pm – 10.15pm
Sunday: 12pm – 3pm
The restaurant is also open for corporate and private bookings by request Monday - Sunday
The restaurant is set in a 600-year old building that had been fully renovated prior to opening. Located on the first floor of this listed building at the end of a cobble stone courtyard it offers fine dining to the residents.
The restaurant fully opened its doors in 2018 and due to family reasons, our client is reluctantly looking to sell this already established and profitable business.
Approached via a cobble stoned courtyard and as the name suggests is set on the upper levels of a 600 year old listed building.
The courtyard has a licence for outside seating for up to 6 tables giving up to 18 covers.
Upon entrance to the restaurant is the reception area which leads to the cocktail bar to the left and the main restaurant to the right. The restaurant and bar area have wood flooring throughout, beams to the vaulted ceiling and walls and column radiators.
The cocktail bar area has seating for several guests within the main area and 6 at the bar.
The bar itself is a bespoke bar made from copper with under lighting, spirits stand, cocktail shakers, drinks fridge, coffee machine, glass washer, sink and storage.
The main restaurant comfortably sits 48 and has a high vaulted and beamed ceiling.
From the restaurant is a door to the lobby way with emergency exit door, cloaks area, door to the kitchen and stairs leading to the top floor.
The stainless steel industrial kitchen has:
6 burner Imperial range
Hob/grill
Imperial double fryer
Under counter fish and meat chiller drawer
Stainless steel preparation areas
Electric oven
Double sink
Brita water filter for still and sparkling water
Dish washer
Panasonic microwave
Numerous fridges and freezers
Kitchen aid mixer
Industrial extractor fan
Shelving.
On the top floor are doors to the toilets, storeroom and to the private function room.
The private function room has room for 12 guests and a large skylight window giving views across the open countryside.
The toilets are tiled to the floor and walls, both with 2 toilet cubicles and the lady’s toilet having a vanity area
Tenure
We are advised the business is being sold as a leasehold business opportunity with a 10 year lease from September 2017 and an annual rent of £30,000
Our clients inform us that they pay business rates at £7,000 per annum
