Please quote reference B04839
Hilton Smythe welcomes to the market La Bella Vita which stands in the historic centre of Hitchin, offering a unique Italian dining experience. Established in 1978, this is a Hertfordshire Restaurant & Hotel with a difference. Our client is now looking forward to retirement.
Its traditional setting and Italian charm provide an ambience which our client firmly believes cannot be found elsewhere and he calls it a Hitchin fine-dining gem! The delicious menu is heavily influenced by our clients Venetian roots, using only the very best fresh ingredients. Our client and his team will go out of their way to ensure that the customers have an Italian meal to remember and become one of La Bella Vita's many regulars.
The restaurant has a seating capacity of up to 120 and also has an area for conferences, parties etc with a fully licensed bar and stage. There are seasonal and A la Carte menus and the restaurant specialises in fine Italian wines.
In addition, La Bella Vita also offers something very special in accommodation having 28 en suite rooms, all finished to a very high standard. These offer Italian elegance combined with modern comforts. Ideal for a business stay in Hitchin, or for a romantic Hitchin break, La Bella Vita's Hotel provides guests with luxury at a very affordable price. The rooms are fitted with oak furniture, many have 4 poster beds, which were purchased from Bylaws furniture makers. 8 of the rooms are situated within a new wing of the hotel.
The rooms are let out privately, to workers but also via the local authority giving an occupancy of circa 75 – 80% throughout the year. The hotel is rated 3* and has rooms at circa £65 per night.
The business is being sold with the website , the restaurant has 4* reviews on TripAdvisor from 167 reviewers, and the hotel is rated 4.5* on from 250 reviewers.
There are many reasons to buy La Bella Vita including:
• High annual occupancy within the hotel
• Long established within the area
• On site owners’ accommodation
• Many returning diners
• Affluent market town
La Bella Vita is located in the thriving town of Hitchin, Hertfordshire. Hitchin is an historic market town with a population of circa 33,350 and is accessible to A1 via A505 and A602 and also Luton airport which is only a few miles away.
Hitchin is a flourishing town and La Bella Vita is located just off the main market square close to the town centre, surrounded by many local shops and larger retail chains that bring a high footfall to the town.
There is an arch from the main street which leads to the parking area to the rear of the hotel/restaurant.
The main restaurant is entered from the front and is in 3 main sections. The first section is where breakfast is served for the hotel guests and is positioned to the front of the building, this area is the first area of three for evening dining.
Past this area is the reception which also has access to the toilets.
After the initial dining area is a second area with beams to the ceiling and has access to the kitchen and rear dining area/private hire area.
The stainless-steel kitchen has:
• Stainless steel preparation tables
• Stainless steel shelving
• Hobart oven
• Meat slicer
• 10 burner stove
• Extractor fan
• Wega coffee machine
• Hobart dishwasher
The rear dining area/private hire area has the bar with drinks fridges, optics, glass washer, shelving.
There is a stage to the rear and a door that leads to the rear lobby to the car park.
Off the lobby are two storage rooms and access to the owners’ accommodation which includes:
• Sitting room with kitchenette
• Storage room
• Further bedroom with en suite
The main hotel are is set above the restaurant and there is further accommodation the other side of the archway. All rooms have en suite facilities, some rooms have four poster beds, all rooms in the main hotel area have oak furniture and wardrobes. The newer wing has 8 bedrooms all with en suite facilities.
There is CCTV to the ground floor area and public spaces.
Car park - there are 7 spaces included in the sale with the possibilty to lease more space from the vendor
We are advised the business is being sold as a Leasehold business opportunity, a new lease is to be written and the terms of that lease are to be negotiated. With rent payable at £100,000 per annum.
The restaurant is open each evening
The business is run and managed by our client, with the help of several part time/full time members of staff including cleaners, waiting staff, reception staff and kitchen staff.
La Bella Vita generated an advised turnover of circa £443,157 as of the 2017 accounts, with a gross profit of £245,562, a net profit of £42,317 and an adjusted net profit of £73,292.
The assets in the business are worth in the region of £200,000.
Please quote reference B04839