Established and locally renowned takeaway turning over in excess of £XXX (excl. VAT) with scope for development of business. Well finished and fully equipped, 675 sq ft/62.69 sq m of front shop, food prep area, staff room/store with walk in chill, toilet. Lease to 2022 at a rental of £XXX per annum. Alarm; CCTV; elec roller shutter; shared car park
Location
To the north west of the town centre fronting directly on to busy Sunnyside Road, the main distributor road for the Gartsherrie, Townhead and Greenhill areas of Coatbridge and to Glenmavis.
With modern and more traditional housing in the area, the shop also benefits from being close to the town centre.
Restricted parking is available immediately outside the premises (single yellow lines) and there is a free public car park opposite, off Baird Street.
Neighbouring and surrounding uses include hairdresser, Motorsports, Newsagent and St Andrews, Heritage, Segton and Fountain public houses.
Accommodation
DESCRIPTION:
Mid terraced property in terrace of 3 with a hairdressers to one side and motor store to the other.
Glazed display frontage with adjacent door to retail area with food preparation area to the rear with door off to staff area/store with walk in chill and toilet.
Well finished and equipped for purpose, the retail area has proprietary, washable lined walls and ceramic tiled floor which continues into the food preparation area the walls of which are predominantly lined in stainless steel. An alarm and CCTV are installed and there is an electric roller shutter to the frontage.
There is a parking area to the right hand flank of the terrace shared by the three occupants of the shops in the terrace.
A full inventory of equipment can be prepared prior to conclusion of a sale however this includes the following :-
Preston Thomas 3 pan fryer; Sharp electric till; 2 x upright drinks fridges; Lincat bain marie; baked potato oven; refrigerated Linea pizza topping display; 2 x microwaves; double Panini machine; 2 ring gas burner; pizza oven; 3 x stainless steel fridges; peeler; chipper; vegetable prep machine; walk in chill.
LEASE:
Landlords North Lanarkshire Council; 15 year lease expiring 24 January 2022; current rent £XXX per annum next rent review scheduled for 25 January 2017. Landlord’s consent will be required to any assignation of the lease and North Lanarkshire Council will require the usual references.
BUSINESS:
The Fountain is a locally renowned takeaway operated successfully by our clients since 1996.
Staffed by our clients, 2 full time and up to 17 part time staff (including delivery drivers), the current opening hours are Monday to Friday, 11.30 am - 1.30 pm and 4.00 pm – 10.30 pm, Saturday and Sunday 4.00 pm-10.30 pm.
Trading accounts show a generally steady turnover over the last 5 years and the most recent accounts, to April 2013, reveal a turnover of in excess of £XXX (excl. VAT) with a resultant gross profit of approximately 57% and an adjusted net profit of 18.4%. It should be noted that our clients have scaled down their workload in recent years resulting in the employment of additional staff with consequently higher wages and they believe that, operated more intensely by any new owners, adjusted net profits should reach in the region of £XXX-160,000.
Already very popular locally and trading extremely successfully our clients also envisage there is scope for further development of the business by, for example, extending the opening hours beyond the licensing hours of the 4 public houses in the immediate vicinity, more emphasis on deliveries and introducing home made pizzas and pastas.
RATEABLE VALUE:
£XXX
The Small Business Bonus Scheme offers up to 100% rates relief and further details are available on the Scottish Government website: www.scotland.gov.uk, under the heading Topics, Public Sector, Local Government, Local Government Finance then Non Domestic Rates.
AREA:
675 sq ft/62.69 sq m or thereby net internal area by our calculations
ENERGY PERFORMANCE RATING:
G
Terms
OFFERS OVER £XXX are invited for the Goodwill of the business, fixtures, fittings and equipment and the assignation of the lease.
In the first instance all offers should be submitted to Mr Cameron of this office.