Restaurant/cafe for sale in Friargate Walk, St. Georges Shopping Centre, Preston PR1

£49,000
Restaurant/cafe for sale
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Property description

Ref 6667 – Leasehold Newly Fitted Thai Restaurant & Takeaway
Blacks Brokers are pleased to bring to the market this newly fitted leasehold Thai restaurant and takeaway located in a busy and much sought after area of Preston, Lancashire.


Introduction


Taste of Thailand has been trading on Friargate since 2017. Our client established the business to meet local demand for a top quality Thai eatery and delivery service in this area. The business is well known and has an excellent reputation with a large base of regular customers. This customer base has been built solidly over the last year and much trade has been generated by word of mouth recommendations, along with a strong social media presence and partnership with Just Eat. A number of superb reviews are noted on Google, Trip Advisor and Just Eat. Our client has also attended a number of local festivals which have broadened the business reach and enhanced the reputation. The business has just been nominated for Lancashire Takeaway of the Year 2019.


Location


The business operates from Preston town centre. This area is densely populated commercially with a range of shops close by including independent retailers, offices and businesses as well as large multiples such as Tesco Express, Aldi, McDonalds, Nandos and much more. This area is very well linked by the A59, A6 and M6. The University of Central Lancashire is a short distance away along with St Georges Hall and Preston Guild Hall. Public transport links are excellent with a bus and train station within walking distance and 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 family commitments, 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.


Lease


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 a ten year lease which began in 2017 at a cost of £346 + VAT per week. The lease has a five year break clause.


Staff


The business is currently operating with six members of staff in employment - this includes a chef. Our client and partner also work in hands on roles on a full time basis.


Financial details


Taste of Thailand has traded well since opening and has made an impressive start to trade. We are advised that the business has a Projected Annual Turnover (2019/20) £198,000, with a Projected Gross Profit (2019/20) £108,000. Full financial details are available upon viewing.


Summary


This leasehold business occupies a superb trading position in the heart for Preston town centre. Our client has built a superb reputation and strong online presence. There is plenty of scope to develop the business further with the introduction of longer opening hours and additional menu options. Offers for local students could also be beneficial. 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. Business: £49,000.

Please quote ref: 6667

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For more information about this property, please contact
Blacks Business Brokers, BL9 on +44 161 937 5978 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blacks Business Brokers, and do not constitute property particulars. Please contact Blacks Business Brokers for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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