Highly rated Chinese/Cantonese restaurant for sale
Swansea, West Glamorgan
- Asking Price: £54,995 +SAV
We are avised the business generated a turnover in the region of £80,000. Further financials can be made available upon further request.
Please quote reference B06176
- Tenure: Leasehold
Please quote reference B06176
Hilton Smythe is delighted to present to the market a very large, licensed city centre restaurant, spread over 3 floors.
The New Slow Boat Restaurant has been in the careful ownership of our clients for over 6 years now who are now looking to sell to spend more time with their young family.
The restaurant is renowned for its Chinese, Cantonese and Peking cuisine, available to enjoy both inside or takeaway.
The sale of the business includes the following equiptment -
- Fridges x 7 (3 small, 4 large)
- Walk-in Cooling room x 1
- Freezers x7
- Gas Turbo cooker (4 cookers ) x 1
- Oil Fryer x2
- Steamer x1
- Oven x1
- Ordering system including computer x1
- Printer x1
- Tables x 22
- Chairs x 100
- Air conditioners x 5 (3 small 2 large)
- Washing machine x 2
- Glass washer x1
- Ice maker x1
- Glasses for 200
- Plates for 200
- Cutlery for 300
- 2 seater Sofas x 2
- Big Screen TVs x 4 (48’’ to 55’’)
- Karaoke System x 1 (3 ordering computers, 10 microphones, large hanging speakers x6)
Before the Covid pandemic, the business focused on dining in customers, offering the ability to cater for large birthday groups as well as smaller functions in one of their private dining rooms.
During the pandemic, the business had to focus on takeaway/delivery orders (through Just Eat) only which significantly affected the normal business turnover.
In recent years, the business enjoyed a weekly turnover of between £5-£7,000 however due to family commitments, our client’s decided to reduce the opening hours and trade under the VAT threshold.
The value placed on the business is purely based on the location, lease transfer, large space available and list of included equipment.
In addition to the ground floor restaurant is a further two floors, one used for kitchen, storage and staff room, the second floor contains a further 5-6 rooms(ideal for staff accommodation).
Very rarely do restaurant spaces of this size and location come onto the open market and we therefore recommend early viewing to avoid disappointment.
Key Selling Points -
- Ability to accommodate 100-150 diners
- Several options for the many rooms included
- Active Facebook page with over 1,000 followers
- 4.5/5 Google review score
- 4/ 5 TripAdvisor review score
- Fully equipped throughout
- Large first floor kitchen
- Zero business rates payable
- Potential to achieve yearly sales of over £350,000
We are advised that the business is owner run and managed.
The business hours are -
Monday – 12:00pm - 2:00pm & 5:00pm - 10:00pm
Tuesday – 12:00pm – 2:00pm & 5:00pm – 10:00pm
Wednesday – 12:00pm – 2:00pm & 5:00pm – 10:00pm
Thursday - Closed
Friday – 12:00pm – 2:00pm & 5:00pm – 10:30pm
Saturday – 12:00pm - 2:00pm & 5:00pm – 10:30pm
Sunday – 12:00pm – 2:00pm & 5:00pm – 10:00pm
The New Slow Boat Restaurant occupies a highly prominent trading position on the High Street within the centre of Swansea’s busy city centre.
This location is one of the most desirable locations for a restaurant looking to attract a high customer footfall throughout the day and night.
The restaurant is well positioned between the High Street Shopping Arcade and the Grosvenor Casino.
There is an excellent choice of places to eat within the area as well a good choice of clothing retailers, audio & tech stores, convenience stores, hotels & leisure facilities.
Swansea is a thriving coastal city on the south coast of Wales, it is the second largest city in Wales.
There is a large pay and display car park within 5 minutes’ walk from the Restaurant.
Nearest mainline station is Swansea.
We are advised that the business is being sold on a Leasehold basis, with 13 year remaining on the 19 year lease. The rent is £2,500 per month and has £0 rates payable.