• Top quality fit out (fully refurbished two years ago)
• Well established with excellent reputation
• Turnover circa £270,000, net of VAT per annum
• Situated in high residential catchment area
• Lease option also considered
• Energy Performance Rating Band G
• Guide Price £270,000
Location
The property is located within a parade of local shops on the North side of Bighty Avenue within the Woodside residential area on the
South Eastern outskirts of Glenrothes.
Nearby occupiers include a newsagent, licensed grocer, optician and hairdressers. There is free parking to the front of the shops.
Glenrothes is a thriving New Town in Central Fife with an expanding population which is now approaching approximately 50,000. The town is the administrative centre for Fife Region and benefits from a busy commercial centre focused on the Kingdom Shopping Centre and also a large number of established industrial estates around its periphery.
Accommodation
We would summarise the accommodation as undernoted:-
Front sales 23.29 m² (251 sq ft)
Back shop 16.27 m² (175 sq ft)
Garage 17.04 m² (183 sq ft)
The above areas are approximate and provided for information purposes only.
Terms
Our client has owned the business for over 10 years and is now seeking to retire.
La Spezia has the benefit of an excellent reputation offering an extensive and appetising menu to include homemade pizza and pasta, kebabs and wraps and fried suppers.
The majority of income is generated from shop sales but the business also benefits from strong home delivery sales. Deliveries are available within Glenrothes only.
Our client has an ordering system which was specifically designed for the business and it is linked between with front shop and kitchen for processing phone orders. The shop is also a member of “Just Eat”.
The business is family run with assistance from a pool of part time staff and opening hours are 4.30 pm – 11.00 pm, 7 days a week.
Financial documentation will be provided to interested parties after viewing. Sales for the year ended 31 March 2015 were £270,828,
net of VAT.
Specification
PRICE
Offers around £270,000 are sought for the property, goodwill, fixtures and fittings, with stock available over and above at valuation.
Our client would also consider leasing the premises on the basis of a new lease agreement, the terms of which are open to negotiation.
Lease
Our clients are seeking to grant a full repairing and insuring lease at a proposed rental of £250 per week. Regular reviews will be
incorporated. In addition to the rental, premium offers in the region of £150,000 are sought for the business.
As would be expected under the terms of a traditional lease, the incoming tenant will be required to demonstrate their ability to fulfil their obligations under the lease, in particular financial obligations, and references will be requested at an early stage, without exception