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Popular Fish & Chip Shop With Accomm For Sale

Newark, Nottinghamshire
Asking Price:
£120,000 Furniture / Fixtures included
Sales Revenue:
£350,000
Cash Flow:
£100,000

Town Centre Trading Position
Annual Turnover £350,000
Gross Profit £210,000
Net Profit £100,000
Further Financial Info Available After Viewing
Three Bedroom Accommodation
Seating For 20
CCTV Fitted Throughout
Very Well Equipped
Five Star Food Hygiene Rating
Just Eat Delivery Service In Place
Fantastic Online Reviews
Potential For Lunchtime Opening
Scope To Introduce New Menu
EPC - E

REF 6888 – Leasehold Fish & Chip Shop With Accomm

Blacks Brokers are pleased to bring to the market this leasehold fish and chip shop with accommodation located in a busy and highly sought after area of Newark, Nottinghamshire.

INTRODUCTION

Castlegate Fish Bar was established in this busy area of Newark in 1977. Our client took ownership in 2012. The business is very well known and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to this excellent trading position. Our client has ensured the bar has a five star hygiene rating, enviable reputation and superb reviews are noted on Google, Just Eat, Facebook and -------.--.--. Castlegate Fish Bar has a comprehensive website in place with ordering service as well as its own app and partnership with JustEat.

LOCATION

Castlegate Fish Bar occupies a prominent trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including other eateries, independent retailers and large multiples such as The Halifax, Asda and The Post Office. Newark Castle & Gardens and The River Trent are also close by. Newark is well linked by the A46 and A1 with strong public transport links and parking is available in the surrounding area.

REASON FOR SALE

The business is ideally suited to a hands-on owner-operator but due to the demands of our client's other business commitments being higher than anticipated, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

The building is available on a Full Repair & Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is a twenty year lease which began in 2013 at a cost of £346 per week – this includes the first and second floor accommodation.

STAFF

The business operates with seven members of staff in employment supporting our client working on a full time basis.

FINANCIAL DETAILS

Castlegate Fish Bar has traded solidly since opening and our client has established a strong customer base. We are advised that the business currently has annual turnover of £350,000 with gross profits of £210,000 and net profits of £100,000.

SUMMARY

This is a long established, well known eatery and takeaway with a large customer base. There is plenty of scope to develop the business further with the introduction of longer opening to include lunchtimes and a strong marketing drive with new online and social media presence. 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.

Property Information

Property:

Leasehold

Business Operation

Trading hours:

MON - THU: 17:00 - 22:00
FRI: 17:00 - 02:00
SAT: 12:00 - 02:00
SUN: 17:00 - 22:00

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