£0 £1000000
£0 £1000000

Popular 46 Cover Bistro in Busy Centre Location

Lincoln, Lincolnshire

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Sold

£45,000 +SAV

Ref: 14112 F

Leasehold

Overview

The business has been operated by the current vendors for a couple of years and has established itself as a must go to venue within the Lincoln area. The business serves a delicious range of breakfasts, lunches and pizzas throughout the day as well as having an enviable choice of ice creams which are served from a bespoke ice cream counter. There is a seating area with 46 covers for indoor dining. The site is busy throughout the day but would further benefit from the opening hours being extended to catch the early morning trade as well as in the evening with the site having a licence to serve alcohol. This is a rare opportunity to acquire a popular and newly established business with potential to grow significantly, with its location next to the Carlton Centre and the new residential development. The site could also establish itself as an evening venue with theme nights as well as music and entertainment with it being in such a strong location. The business would greatly benefit from a new operator who has the vision and enthusiasm to take Morgans to the next level maximising its true potential. The business has an excellent website, this can be found at www.morganslincoln.co.uk.

Turnover
We are advised the business has a current turnover in the region of £231,000 per annum trading limited hours.

The business is run and managed by the current vendor with the assistance of 3 full time and 7 part time members of staff.

The opening hours are currently:Monday to Saturday: 9.30am to 4pm Sunday: 10.30am to 4pm

Situated at the top end of Alexander Walk on the edge of the popular Carlton Centre in Lincoln. Morgans is easily accessible either on foot or by car with ample free parking within the centre which is located just off the outer circular road next to the A15. The site is surrounded by other businesses as well as having a large residential contingent living opposite in the recently built apartments.

Ground floor café and Bistro located on the edge of the Carlton Centre on Alexander Walk in Lincoln. The premise boasts a substantial sized 46 cover seating area. The development is still fresh and the current operators have invested in new equipment throughout the business. Equipment included in the sale- All stainless steel work preparation unitsStorage countersAll ovensCooking equipmentRefrigerated display countersHot drinks machinesAll chairs and tables. The business is being made available for the new operator to be able to continue trading in its current format.

Tenure
We are advised the business is being sold as a Leasehold opportunity./3 Current rent passing at £8,500 per quarter.

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