Restaurant/cafe for sale in Ludlow, England, United Kingdom SY8

Ref 8072 – Leasehold Tapas Restaurant
Blacks Brokers are pleased to bring to the market this leasehold tapas restaurant located in Ludlow, South Shropshire.

Introduction

Parkway Tasca Bar was established by our client in this affluent area of Ludlow in 2014 – businesses of a similar nature have operated here since the 1980’s. The business offers a range of traditional tapas foods. 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, Facebook and Trip Advisor. Parkway Tasca Bar has a basic website in place and social media presence.

Location

Parkway Tasca Bar occupies a superb trading position just off the high street in the centre of Ludlow. The area is densely populated commercially with neighbouring businesses including independent retailers such as florists and jewellers as well as large multiples including Boots and WHSmith. There are also a number of amenities nearby including hotels, supermarkets and so on. The area is well linked by the A49 with very strong public transport links and parking is available in the surrounding area.

Reason for sale

The business is ideally suited to a hands-on owner-operator but due to our client’s retirement plans, 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.

Lease

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 rolling monthly lease which began in 2014 at a cost of £211 per week.

Staff

The business operates with four members of staff in employment supporting our client working on a full time basis. Our client is currently head chef.

Financial details

Parkway Tasca Bar has traded solidly since opening and our client has established a strong repeat customer base. Accounts for year ending December 2021 show annual turnover of £80,025 and gross profit of £39,478. Full financial information is available upon request.

Summary

This well established business occupies an enviable trading position in a sought after area of Ludlow. 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 a strong marketing drive, new website with ordering and booking systems and further use of online resources such as social media. 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: £39,995.

Please quote ref: 8072