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Bel Air Restaurant for sale - 130 Covers - Established 1950’s

3/wk
Rickmansworth Rd, Northwood, Middlesex HA6 2QW, Hertford, United Kingdom
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Asking Price$82,432
Revenue$348,208 Established1950
Cash FlowUndisclosed Employees4 full, 8 part
FF&EUndisclosed FranchiseNo
InventoryUndisclosed RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Bel Air Restaurant for sale - 130 Covers - Established 1950’s
Ref.AC338
Location Rickmansworth Rd, Northwood, Middlesex HA6 2QW
Asking Price £ 50,000
Originally on the site at the turn of the century the premises originally traded as tea rooms to the local community. In the 1950’s the restaurant became famous across North London and the Home Counties for unique Swiss cuisine.
In 2001 the present owners took over the operation and the cuisine became more European in style, which it remains today. The menu encompasses traditional and contemporary English, French and Mediterranean dishes. The capacity of around 130 covers and ambience of the restaurant appeals to larger private and corporate functions. The restaurant has a long-running history of catering for dinner and dance evenings that are catered for with set menus at reasonable prices and appeal to a wide range of customers. The dinner and dance evenings have proved incredibly popular over the years, with attendance passed down among generations of guests.
The restaurant enjoys limited competition over a large catchment area, with zero premises of similar capacity within a large radius resulting in the restaurant being the no. 1 choice for many businesses and private parties looking for a quality local establishment for their events, from business lunches, leaving do’s to larger Christmas parties to mention a few. The restaurant has the capability to cater for a large group at the same time as seating couples and small parties. This requires the restaurant to work to capacity a lot of the time with excellent earnings potential.
Facilities:The premises are leasehold on a fully renewable lease with 15 years remaining. The annual rent is circa £40,000 with business rates circa £9,000. Overall the main dining area is circa 3,000 sq. ft. with the fully fitted commercial kitchen encompassing approximately an additional 700 sq. ft. The first floor comprises of a two double bedroom flat, currently used for storage.
Competition:There is a comprehensive website which benefits from natural search engine rankings and a small spend on ‘Google Ad-words’ There are current listings in the Yellow Pages and Thomson Directories, along with regular leafleting and in-house promotions. This brings in incredible levels of repeat bookings, recommendations and referrals.
Growth Potential:Currently there is an un-used two double bedroom flat on the first floor which could be used by new owners as living accommodation, or sub-let to staff or as a private let. The premises themselves could lend themselves to being updated with a refurbishment of the main dining area and patio possibly over the next few years. There is also every opportunity to re-invigorate the marketing and promotion of the restaurant under new owner management.
Training/Support:The owners have run the restaurant with a great deal of passion over the years, and are agreeable to a period of handover for the successful transition to new ownership.
Sale Reason:The owners of the restaurant are looking to retire after many successful years in the business.
Ad #57029
Seller Reference #AC338
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Turner Butler
0044 1895256000
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