£0 £1000000
£0 £1000000

Extremely well established Restaurant/Bar for sale

Stoke-on-Trent, Staffordshire

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Under Offer

£185,000 +SAV

Ref: B06397

Freehold

Overview

Please quote reference B06397

Hilton Smythe are pleased to have been given the opportunity to manage the sale of Rare Lounge Bar & Steakhouse which is a well-established Restaurant/Bar with a renowned reputation amongst local residents. This is a superb opportunity to take on a local business in an densely populated residential area.

Rare Lounge Bar & Steakhouse was founded by the current owner in 2011 and has flourished under his ownership accruing an impressive number of regular customers and a burgeoning reputation, including Trip Advisors Service of Excellence award for the last 4 years. Alas this great little business is now being sold , albeit reluctantly and with a heavy heart only due to the owners wish to pursue a change of direction.

Rare Lounge Bar & Steakhouse serves an impressive range of food, freshly prepared on the premises using local ingredients wherever possible. The comprehensive menu includes:

  • Salads
  • Fish
  • Homemade Burgers
  • Jacket Potatoes
  • Steaks
  • Appetisers
  • Sharing Platters
  • Ribs
  • Sizzlers
  • Fajitas
The business prides itself on the quality of its meat and service. The business only serves 28 day matured, locally sourced British Beef which they believe is the best in the area. 

The sale will include the company Facebook page and the business enjoys great visibility on the internet via websites such as Trip Advisor and Visit Stoke.

The business benefits from impressive reviews and is proud of its five star hygiene rating.

Scope to improve

  • Advertising and marketing campaign
  • Maximise the use of social media particularly Twitter and Instagram
  • Extend the opening hours perhaps opening for breakfasts or as a café during the day, or afternoon teas.
  • Explore online delivery options from the likes of Just Eat and Uber eats etc
  • Introduce a loyalty card/ scheme
  • Investigate online voucher offerings such as Taste Card , Groupon and Wowcher.
Reasons to buy

  • A well-established business with an enviable reputation and many existing customers
  • Unlimited free parking outside the restaurant. 
  • All fixtures and fittings included making this a real Turn-key business opportunity
  • Ideal owner managed or partnership business
  • The sale includes the valuable freehold (Maybe available on Leasehold, subject to further negotiation).
  • Current owner happy to offer a handover to ensure the continued
  • Prime trading position with little or no competition locally
  • Priced to sell, the business values much higher and thus represents somewhat of a bargain for a lucky new owner.
Hilton Smythe highly advise early viewings to avoid disappointment.

This great business is likely to attract considerable interest.

Turnover
We are advised as per the 2019 accounts, the business generated a turnover in the region of £135,000, with an adjusted net profit in the region of £52,000. Full financials can be made available upon further request. 

Please quote reference B06397

We are advised that the business is owner run and managed, with the help of 1 full-time and 3 part-time members of staff. 

The business hours are -

Monday – Closed
Tuesday – 17:00 – 22:00
Wednesday – 17:00 – 22:00
Thursday – 17:00 – 22:00
Friday – 16:00 – 23:00
Saturday – 16:00 – 23:00
Sunday - 16:00 – 22:00


Rare Lounge Bar & Steakhouse is located in Dresden, Stoke-on-Trent.

Stoke-on-Trent (often abbreviated to Stoke ) is a city and unitary authority area in Staffordshire with an area of 36 square miles. Together with the neighbouring boroughs of Newcastle-under-Lyme and Staffordshire Moorlands, it is part of North Staffordshire. In 2016 the city had a population of 261,302.

Stoke on Trent is the home of the pottery industry in England and is commonly known as the Potteries, with the local residents known as Potters. Formerly a primarily industrial conurbation, it is now a centre for service industries and distribution centres.

Rare Lounge Bar & Steakhouse is prominently positioned in a main road position in a densely populated residential area which comprises a mix of property types including owner occupied, private rented and local authority.

The business is beautifully presented and maintained with clear visible signage and distinctive livery. There is free on street parking immediately outside the premises.

Rare Lounge Bar & Steakhouse occupies a generous, period style property and is presented and maintained to the highest standard and briefly comprises;

Bar/Restaurant - Windows and glazed door to front creating a light, airy and inviting interior, beautifully presented with a lovely upmarket feel. Bar area with leather effect sofas, bespoke bar , 2 EPOS till systems, 4 wall mounted widescreen TVs, 2 double glass fronted drinks chillers, single glass fronted drinks chiller, glass wash, ice machine, optics. Higher level restaurant area with impressive feature vaulted ceiling, nice quality tables and chairs currently providing approximately 64 covers but room for more if required.

Kitchen - Immaculate and comprehensively equipped catering kitchen with tiled floor, Rational Gas oven, 6 burner range cooker, char grill, twin basket fryer, full extraction system with stainless steel canopy, double freezer with built in Bain Marie, plate warmer with Passover, preparation sink with chiller below, stainless steel cladding to walls, commercial dish washer, deep stainless sink with spray tap, stainless steel preparation tables, stainless steel commercial freezer, 3 stainless steel microwaves, Walk-in chiller with stainless steel cladding.

Dry Goods / Freezer Room - Double stainless steel commercial fridge, single upright fridge, perimeter shelving and floor storage space.

Cellar - With beer equipment , perimeter shelving and floor storage space

Disabled WC - Generous wash room with baby changer.

Exterior Storage Area - Secure area for bin storage etc

First Floor

Ladies WC - With two cubicles and modern bowl wash basins. Access to roof space

Gents WC - With two urinals, cubicle, Belfast sink and useful store cupboard

Staff Room - With changing area etc

Managers Office - With space for desk and chair, perimeter shelving and useful under eaves storage.

Landing - With double doors to boiler room with Potterton boiler and hot water tanks etc.

Staff WC - With close coupled toilet and hand wash basin.

Walk in Cupboard - Useful walk-in cupboard with further under eaves storage.

Tenure
We are advised that the business is being sold on a Freehold basis, with £4,500 rates payable per annum. 

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