Thriving Blue Velvet Restaurant in Tiverton, Devon on Sale - Great Business Opportunity
Tiverton, Devon
- Status
FOR SALE
- Date Submitted:
26/04/18
- Advert ID
218432
- Reference
B04237 / Rightbiz
- Call Agent:
- Leasehold: £39,995
- Turnover: Not Applicable
- Net Profit: Not Applicable
Business Details
Excellent Opportunity Popular And Thriving Restaurant
BusinessPlease quote reference B04237
CoGoGo is delighted to welcome to the market Tiverton Steak House & Bar, a very popular restaurant in Tiverton Devon.
Tiverton Steak House & Bar was established in 1975 and has been in our client’s very careful ownership since 2017.
Only now is the business being offered to the market due to our client’s other business commitments.
Tiverton Steak House & Bar greatly benefits from being the only one of its kind in the area. As seen by the reviews on Tripadviser and Google, the steakhouse is extremely popular and has built up an excellent reputation.
The restaurant is open 6 days per week and generates the turnover from freshly prepared meals including specials and traditional Sunday lunch.
Tiverton Steak House & Bar has an excellent reputation and is renowned for its high-quality food and service, which has generated a very loyal client base with a lot of repeat trade and word of mouth referrals.
Tiverton Steak House & Bar was refurbished and rebranded due to covid 19 as the influx of coffee shops being bolted onto other businesses so the business concept changed to a steak house using the hot stone principle.
The sale of the business includes -
- Business website
- Social media pages - Facebook and Instagram
- Weddings
- Birthday celebrations
- Anniversaries
- Business lunch meetings
The business would also benefit from a small marketing campaign to advertise the business and cuisine offered.
We feel this is an excellent opportunity for a new owner to take this popular and thriving business to the next level therefore early viewing must come highly recommended to avoid disappointment.
Location
Tiverton’s revival in recent years began with the construction of the A361 (known as the North Devon Link Road) In the late 1980s.
In the 1990s, a new industrial estate was built at Little Gornhay on the north-eastern edge of the town, and a new junction was added to the Link Road, with a distributor road (now the A396) into the town, which has become its main gateway. Great Western Way, linking this road to the Exeter Road along the line of the old railway, These two roads opened up a new aspect to the town and paved the way for expansion.
Tiverton is centrally placed to visit the exceptionally stunning areas of Dartmoor and Exmoor, along with the North and South Devon Coasts.
Premises
Our clients upgraded the kitchen to a stainless steel environment with 2 triple door fridges and a triple door fixer prep tables new flooring and in the restaurant new leather and beech wood table and chairs a larger bar area with 3 pump draft system and extensive redecorating throughout.
The property is extremely well presented and decorated to a very high standard.
The restaurant area is located on the ground floor.
The business further benefits from a large commercial grade kitchen on the first floor.
Equipment:
• Buffalo grill
• Panini grill
• Tabletop fryer
• 2 stainless steel worktops
• EPOS system (new)
• Various fridge freezers
• 6 ring cookers
• Extractor system
Tenure
We are advised the business is being sold as a Leasehold.
The Lease is a 7 year renewable Lease with a 3 year break clause which stated in 2019.
Rent: £12,500 per annum.
CoGoGo are advised the business doesn’t pay business rates.
Hours
The business trading hours are as followed:
Monday to Thursday - 18:00pm - 22:00pm
Friday & Saturday - 18:00pm - 23:00pm
Bar licence is in place from 10:00am until midnight, scope to increase business trading hours.
Staff
The business is run and managed by our client with the help on one full time member of staff.
Financial Profile
To be confirmed.
Please quote reference B04237
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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