Ref 7392 – Leasehold Restaurant With Accommodation
Blacks Brokers are pleased to bring to the market this leasehold restaurant with accommodation located in Guisborough, North Yorkshire.
M & M Restaurants Limited T/A Scarlett's was established by our client in this affluent area of Guisborough in 2015. The business offers modern British food in a comfortable, neighbourhood setting. It has become very well known in this area 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 business has an excellent reputation and superb reviews are noted on Trip Advisor, Facebook and Google. Scarlett's has a comprehensive website in place and very strong social media following.
Scarlett's occupies a main road trading position just off the high street within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including independent retailers as well as large multiples such as hsbc, Boots, Lloyds Bank and many more. There are also a number of pubs nearby as well as a busy market and very popular hotel which is just a few steps away. Guisborough is a busy and sought after town which sees The Yorkshire Cycle Race annually – this brings a huge amount of additional trade in the summer months. The area is well linked by the A171 with very strong public transport links and parking is available immediately outside (parking is free in the evening).
The business is ideally suited to a hands-on owner-operator but due to our client’s relocation, 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 Full Repair and Insure lease (Fri lease). This is the most common form of commercial lease. The current lease is a ten year lease which began in November 2020 at a cost of £346 per week including VAT.
The business operates with one full time and three part time members of staff in employment supporting both owners working on a full time basis one whom is the head chef.
Scarlett's has traded solidly since opening and our client has established a strong repeat customer base. Accounts for year ending 30th September 2019 show an annual turnover of £93,426 with a gross profit of £60,710. Full financial information can be made available after viewing.
The business currently benefits from small business rates relief. Purchasers should enquire with local authorities as to the rates payable.
This stunning, long established business occupies an enviable trading position in a bustling and highly sought after area of Guisborough. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of new menu options and longer opening hours, possibly a takeaway service where appropriate. 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.
Please quote ref: 7392
Building layout and design
This impressive, end terraced property was originally built in 1906 and was then a Fire Station, in 1990 the building was converted and became a Thai Restaurant until 2015 when our client took ownership, refurbished, and reopened as Scarlett’s. In recent months, our client has invested further in additional modernisation and new wooden flooring. Scarlett's operates from the ground floor of the building with a self contained, two bedroomed accommodation within the first floor. The business has branding and signage on display. Inside, the restaurant is beautifully presented, fitted with a large bar and dining area offering seating for up to 44 - this can be increased to 64 depending on layout. The commercial kitchen is fully equipped with a range of high end equipment, stainless steel worktops and pass. There is a first floor comprises of two bedrooms, lounge, kitchen and bathroom with a second floor maisonette currently used for storage. All areas are well equipped and presented nicely.