Ref 6717 – Leasehold Thai Restaurant
Blacks Brokers are pleased to bring to the market this leasehold Thai restaurant located in the busy town centre of Olney, Milton Keynes.
This business has been trading from Osborn's Court for over ten years with our client in ownership since 2016. The business is well known and has a good reputation in the area with a large base of regular customers and a four star hygiene rating. The restaurant offers a range of fine Thai food at present over six days per week. Excellent online reviews are noted on Google and Facebook.
The business is positioned on a busy main road close to the town centre of Olney. This area is well populated both commercially and residentially with a good range of independent shops and businesses close by as well as large multiples such as The Co-op and Tesco Express. The area is well linked by the M1 and A428 with good public transport links and free parking immediately outside.
The business is ideally suited to a hands-on owner-operator but due to our client’s other business interests 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.
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 £563 per week.
The business operates from a large, detached property with private off road parking. The business is well branded with large signage displayed above the main entrance. Inside, the dining area is split across two floor offering seating for seventy, the restaurant is very nicely presented with wooden flooring throughout, free standing tables and chairs and Thai themed décor. The fully equipped kitchen is positioned within the ground floor and this is fitted well with professional catering equipment. There are also toilet facilities. All areas are finished to a high standard with good quality fixtures and fittings throughout. A full inventory is available upon request.
The business is currently operating with three part time members of staff in employment supporting our client working on a full time basis.
The business has traded well since opening ten years ago. Projected Annual Turnover (2019/20) £135,000, with a Projected Gross Profit (2019/20) £65,000. Full financial details are available after viewing.
This leasehold business occupies a superb trading position in an affluent area of Milton Keynes close to a range of local amenities including schools, businesses and shops. There is plenty of scope to develop the business further with the introduction of new opening hours to include lunchtimes and Mondays, a delivery service and stronger social media presence with offers for locals. 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: £120,000.
Please quote ref: 6717