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Main Road Trading Position
Annual Turnover £400,000
Gross Profit £200,000
Accounts Available After Viewing
Opposite Glossop Train Station
Well Linked By M60 & M65
Close To Large Multiples
Ample Free Parking
Total Seating For 75
Excellent Online Reviews
Scope To Open Lunchtime
Could Suit Any Cuisine
EPC – D
REF 6786 – Leasehold Newly Fitted Turkish Restaurant
Blacks Brokers are pleased to bring to the market this leasehold restaurant located in the centre of Glossop, Derbyshire.
Istanbul Bar and Grill has been trading on Norfolk Street since 2017. Our client established the business here due to the high amount of footfall generated by the busy surrounding area. The business is extremely well known and has a superb reputation with a large base of regular customers and excellent reviews are noted on Google, Trip Advisor, Facebook, Open Table and Just Eat. Istanbul Bar and Grill was fully renovated in 2017 before opening and our client invested heavily in a range of high quality fixtures and fittings.
The business is positioned on a busy main road within a parade of shops and directly opposite Glossop Train Station. Neighbouring businesses include large multiples such as M&S Food and Travelodge as well as local independent retailers, eateries and offices. The area is well linked by the M67 with good public transport links and free roadside parking is available in the immediate vicinity.
REASON FOR SALE
The business is ideally suited to a hands-on owner-operator but due to our client’s other business commitments being higher than anticipated, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is fourteen years which began in 2018. The lease runs at a cost of £411 per week.
The business is currently operating with twelve members of staff in employment supporting our client and partner working on a full time basis.
Istanbul Bar and Grill has traded well since opening. We are advised that the business currently has annual turnover of £400,000 and gross profit of £200,000. Full financial details are available upon viewing.
The business has a rateable value of £9,600. Purchasers should enquire with relevant local authorities to confirm the rates payable.
This leasehold business occupies a superb trading position on a busy main road. There is plenty of scope to develop the business further with new opening hours to include lunchtime. A delivery service could also be beneficial as this is in high demand in this area. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.
MON - SUN: 17:00 - 22:00
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