** UNEXPECTEDLY BACK ON THE MARKET **
**MAY SELL**
Howies is a superb 130 cover restaurant comprising two main dining rooms along with two private dining rooms. The restaurant is excellently fitted out with a superior standard of fixtures and fittings as befits a high quality restaurant operation.
The interior layout has been designed to showcase individual dining rooms with a variety of stylish floor and wall finishes throughout the customer facing areas. Both private dining rooms are designed to accommodate 12 and 16 diners in comfort, although a higher number can be seated if required.
To the rear of the restaurant is a large fully fitted commercial kitchen which contains a full range of catering equipment designed for high volume turnover including a separate walk in cold room and dry goods store. The catering equipment has been supplied from high end manufacturers and a full list of equipment can be made and an inventory of equipment can be supplied. At lower ground floor there is a Manager’s office together with excellent storage facilities and a wine cellar which has its own delivery access from Chapel Street.
Howies has been comprehensively refurbished and upgraded throughout and in mid-2019 the entire flat roof section of the building had been recovered with the remainder of the roof comprehensively overhauled.
( Agency Pilot Software ref: 10894 )
Location
Aberdeen is the third largest city in Scotland with a resident population of 230,000. The city has a diverse economy centred around energy, academia, commerce and leisure.
Significant infrastructure projects have taken place within and around Aberdeen over the last two years including the completion of the Aberdeen Western Peripheral Road (A90) and the new P&J Live Events Centre, which has a 15,000 person capacity.
Other recent inward investment programmes include the comprehensive refurbishment of both the Aberdeen Art Gallery and Aberdeen Music Hall. Currently the largest marine infrastructure project in the UK is underway at Aberdeen South Harbour which is being extended to facilitate the berthing of cruise ships within the city.
Howies has an excellent city centre location and is situated immediately north of Union Street in an area comprising a mix of office, residential and commercial uses and Howies is situated diagonally opposite a large multi storey car park.
Terms
THE OPPORTUNITY
Flexible lease terms are available together with generous ingoing incentives at a rental fo £45,000 per annum.
The property is fully fitted out and is ready to trade with all fixtures and fittings included within the lease.
Howies is a very profitable business with an improving turnover and profit margin. The business is only available due to a lifestyle change of circumstances.
TRADING INFORMATION
Turnover was projected to increase in 2020 prior to lockdown. The 8 month turnover to February 2020 was £572,297, equivalent to a full years turnover of £847,882. The management accounts showing the trading history can be made available to seriously interested parties.
RATING ASSESSMENT
The restaurant has a Rateable Value of £63,000 effective from 1st April 2017. The current UBR (2020/2021) for properties with an RV under £51,000 is £0.525. Therefore annual rates payable will be in the order of £33,075.
LICENSE
We have been advised that the premises have a full Liquor License.
ENERGY PERFORMANCE CERTIFICATE
The energy efficiency rating is G. A copy of the EPC can be available upon request.
VAT
Unless otherwise stated, all prices, premiums and rents are quoted exclusive of Value Added Tax (VAT). Any intending purchaser or lessee must satisfy themselves independently as to the incidence of VAT in respect of any transaction.
LEGAL COSTS
In the normal manner, each party will be responsible for their own costs incurred with the purchaser or lessee being responsible for Land and Buildings Transactional Tax and registration dues.
TRADING NAME
Please note that the name Howies is a trademark and a prospective purchase or lease would be prohibited from using this name. All signage, material and reference to Howies would require to be changed at completion of the transaction.
Specification
- Fabulous fully fitted restaurant with high quality fixtures and fittings throughout
- Consistent high turnover and high gross profit margin business
- Up to 130 covers including two private dining rooms