Ref 7509 – Leasehold Italian Restaurant
Blacks Brokers are pleased to bring to the market this leasehold Italian restaurant located in Bletchley, Milton Keynes.
The Greedy Italian was established by our client in this affluent area of Bletchley in 2017. The business offers a variety of freshly prepared, authentic Italian food. 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 Google, Trip Advisor, Just Eat and Facebook. The Greedy Italian has a comprehensive website in place and a good social media following.
The Greedy Italian occupies a main road trading position within a row of residential properties. The surrounding area is densely populated commercially with a combination of both independent retailers and large multiples such as Matalan and Tesco. There are also a number of local amenities nearby including schools, pubs and Fenny Stratford Station. The area is well linked by the A5 with very strong public transport links and parking is available in the surrounding area.
The business is ideally suited to a hands-on owner-operator but due to our client’s family commitments and lack of time, 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 five year lease which began in 2017 at a cost of £317 per week. We are advised that a new lease is available depending on a new owners requirements.
The business operates with six members of staff in employment supporting our client working on a full time basis.
The Greedy Italian has traded solidly since opening and our client has established a strong repeat customer base. Accounts for year ending 30th June 2019 show annual turnover of £419,330 and gross profit of £273,426. Full financial information is available upon request.
Purchasers should enquire with relevant local authorities to confirm the rates payable.
This popular and well established business occupies an enviable trading position in a highly sought after area of Bletchley. 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 to include more lunchtime services and a new owner could also look to open over seven days. 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: £199,950.
Please quote ref: 7509
Building layout and design
The Greedy Italian operates from the ground floor of a spacious corner property on a busy road. The business has large branding and signage on display to both sides of the fully glazed frontage. Inside, the dining area is beautifully presented and offers seating for forty two. There are toilet facilities and a large commercial kitchen to the rear which is fitted with a variety of high spec equipment. All areas have been recently refurbished and have been finished to an exceptional standard.
The first floor accommodation comprises of two bedrooms, lounge, bathroom and kitchen. This has a separate entrance to the rear of the property. The back yard has a large storage facility with two walk in fridges.
Mon, Tue & Wed: Closed
Thu & Fri: 17:00 - 23:30
Sat: 09:00 - 22:00