£0 £1000000
£0 £1000000

For Sale

Well established Restaurant business for sale

Lincolnshire

  • Asking Price: £694,995 +SAV
  • Turnover: We are advised that as per the 2019 accounts, the business generated a turnover in the region of £250,000, with an adjusted net profit in the region of £75,000. Full financials can be made available upon further request. 

    Please quote reference B06526

  • Tenure: Freehold

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Please quote reference B06526

Hilton Smythe is delighted to present to the market a beautifully presented dual business opportunity situated in a character property which still includes many of its original features.

The property was purchased by our clients in 2004 who transformed the business from a simple bed & breakfast into a restaurant arranged to the ground floor with 3 boutique letting rooms to the first.

The ‘turn-key’ freehold opportunity is now being offered for sale due to our client's decision to move abroad; however a full handover period will be offered.

The sale of the business includes -

Kitchen:

  • 3 Upright fridges
  • 1 Upright freezer
  • 3 Counter fridges
  • 1 Blast chiller
  • 1 Bread machine mixer
  • 1 Perry hotplate
  • 1 Automatic dishwasher
  • 1 Turbo fan electric oven
  • 1 x 6 Rings gas cooker with double door oven
  • 1 x 4 Rrings and solid top griddle with double door oven gas
  • 1 Slicer machine
  • 1 Electric Lincat grill
Bar:

  • 3 Upright wine fridges
  • 1 Automatic glass washer machine
  • 1 Ice machine
  • 1 Espresso coffee machine 2 groups
  • 1 Electric till
  • Tables and chairs for 70-80 covers
  • All the 3 rooms are fully furnished with double beds
  • Crockery, glassware and cutlery are also included
The ground floor restaurant and conservatory space allows for a total of 80-90 covers with a choice of private rooms for smaller, more private family gatherings.

Our clients ensure they source locally sourced ingredients to offer a truly individual and fresh menu.

There is also an extensive choice of wines and cheeses available with many of the cheeses made on site including a very good Stilton!

The current menu choices include - 

  • Lunch menu
  • Cheese menu
  • A La carte menu (changes with the seasons)
  • Tasting menu (updated regularly)
  • 3 course Sunday lunch menu
  • Extensive wine menu
Our clients currently open Thursday to Sunday for lunch and Thursday to Saturday for dinner.

The letting rooms -

The self-contained letting rooms can be privately accessed from the rear of the building through a secure rear gate which borders the adjacent conservation area.

There are 3 individual rooms available to book which are tastefully decorated to a very high standard, the ensuite bathrooms have recently undergone a complete refurbishment.

All room stays come with a full Lincolnshire breakfast included and there is also a current special offer in place where guests can enjoy their popular evening tasting menu with their stay. The offer is very special with couples celebrating anniversaries, birthdays or just time away to relax.

Room bookings can be made via their own website or through booking.com.

We are advised there is a further attic room which could be developed into a 4th letting bedroom.

Key selling points -

  • Highly desirable location
  • Room occupancy of 90%
  • Equipped to a very high standard
  • Potential to add deliveries
  • Demand for cookery lessons & cheese tasting classes 
  • Opportunity to add a further letting room in the attic
  • Run to suit - opportunity to extend opening hours
  • Beautiful lifestyle opportunity
Very rarely do Freehold business opportunities in this historic City location ever come on to the open market and we therefore highly recommend early viewing to avoid any disappointment.

We are advised that the business has 10 part-time members of staff. 

The business trades 4 days a week. 

The business is located in Lincolnshire.

The well-known business is surrounded by a small number of independent businesses as well as a close community of traditional housing.

Double fronted brick built building -

Ground Floor -

  • First dining room - organised for up to 20 covers
  • Second dining room - organised for up to 15 covers
  • Rear dining room - organised for 6 covers
  • Conservatory - large space for up to 45 covers (with clear views of the traditional brick yard with established plants & flowers)
  • Commercial kitchen
  • Store cupboards
  • Customer toilets
First Floor -

  • Double bedroom (separate shower room) with Castle view
  • Double bedroom (en-suite)
  • Double bedroom (with full bath en-suite)
Rear External -

  • Cold storeroom
  • Storage sheds
  • Enclosed yard with rear access
  • Private entrance to letting rooms

Tenure
We are advised that the business is being sold on a Freehold basis, with rates payable at £6,600 per annum. 

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