Restaurant/cafe for sale in Queen Street, Wolverhampton WV1

£79,995
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Restaurant/cafe for sale

Property description

Business
Please quote reference B07087

Hilton Smythe are delighted to welcome to the market New Johnny Spice, a highly rated Indian and Bangladesh Restaurant in Wolverhampton City Centre.

The business is currently closed. Prior to this, the business was well established and had an excellent repuation within the local area.

New Johnny Spice was established by our client in 2011, and only now comes to the market due to their wish to retire.

They're primarily an Indian and Bangladeshi restaurant which offers an unlimited buffet style dining, with a key focus on the quality of the food rather than simple quantity. They offer 15 handpicked Indian and Bangladeshi curry dishes including a choice of succulent missed grills, vegetarian options, biryanis, rice dishes, naan breads, Indian sweets and ice cream desserts.

Sales mix - 70% eat in and 30% delivery orders.

Key selling points -


  • Very desirable location within the heart of Wolverhampton

  • Renowned location for an excellent choice of restaurants and bars

  • Popular University City – large student customer base

  • Refurbished to encourage large groups enjoying celebrations

  • High level of equipment to be included

  • Pre-Covid sales advised sales averaged at £6,000 per week

  • Over 300 Google reviews

  • Facebook page – 2,000 followers


Scope to improve -


  • Increase awareness – new website, social media presence and local leaflet drop

  • Increase level of takeaway orders by linking with key delivery partners such as Just Eat, Deliveroo, Uber, own app, website


The sale of the business includes a wide range of fixtures, fittings & equiptment. A full breakdown can be made available.

Location
New Johnny Spice is located on Queen St, in the city centre of Wolverhampton.

The business receives high levels of footfall, and is in close proximity to -


  • University Of Wolverhampton

  • Multiple theatres

  • 2 Shopping centres

  • Walking distance to the Tram/Bus/Train stations

  • Football stadium - Molineux Stadium


Ncp parking at the back entrance of Johnny Spice for customers on Castle Street as well as staff car parking on premises

Premises
Ground floor -


  • 120 cover open plan dining space

  • Self-serve buffet area

  • Bar

  • Private dining/party space. Also used as conference room/staff room used for meetings or lunches. (Large dining capacity for festive celebrations and weddings)

  • Customer toilets (including disabled friendly & baby changing facilities)

  • Large commercial kitchen

  • Storeroom

  • Staff area


First floor-


  • Upstairs has large space which has been unused and has scope for development



Tenure
We are advised that the business is being sold on a Leasehold basis, with 8 years remaining on the 19 year lease. The rent is £27,200 per annum.

Hours
Prior to the business closing, the trading hours were -

Monday – 4:00pm to 11:00pm
Tuesday – 4:00pm to 11:00pm
Wednesday – 4:00pm to 11:00pm
Thursday – 4:00pm to 11:00pm
Friday – 4:00pm to 12:00am
Saturday – 3:00pm to 12:00am
Sunday – 4:00pm to 11:00pm

Staff
N/A as the business is currently closed.

Financial Profile
N/A as the business is currently closed. However, the business generated a turnover in the region of £70,000, as per the 2021 accounts.

Please quote reference B07087

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For more information about this property, please contact
Hilton Smythe Business Sales, BL1 on +44 1204 351867 * (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 Hilton Smythe Business Sales, and do not constitute property particulars. Please contact Hilton Smythe Business Sales 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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