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Restaurant/cafe for sale

£35,000

73A Main Street, Coatbridge ML5

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Property description

Business
Hilton Smythe welcomes to the market Taste Of China. This buffet restaurant was originally established in 2011 by our client. The owner is now looking to sell the business, due to the desire to focus on other interests.

The business runs as a popular town centre all you can eat Chinese buffet restaurant, which also offers a takeaway option. The restaurant has great reviews and sees a generous amount of repeat trade. They offer a variety of dishes on the buffet, with many popular classics such as, sweet and sour chicken, Singapore noodles, shredded beef, prawn toasts and much more. An extensive drinks menu is also available.

The business generates an advised turnover of around £365,000 per annum, with a gross profit of 70%. This is a great turnover, however, we feel this could be further increased. One way to boost income would be to extend opening hours, opening later on Sundays should increase trade. There is also potential to expand the menu further.

The town centre location benefits the business as there is always heavy footfall. From the business Facebook page, it shows that there has been over 1,000 visits. This page is regularly updated with customer reviews, menus and photos. Social media is a free way of advertising the business.

This is a fantastic opportunity that is not to be missed. Hilton Smythe highly advise early viewing to take in the full potential of the trade.

Location
Taste Of China is located in Coatbridge, North Lanarkshire.

Set in the heart of the town centre of Coatbridge, on the first floor of a retail parade. This is a pedestrianised area with local and national retailers, this includes banks, convenience stores, pubs, hair salons and all other general high street premises. This is a busy town centre that sees a large amount of trade.

There is a great public transport system in the town. Close by are several bus stops, these have regular daily routes to Kirkshaws and Bargeddie. The closest train station is a short 5 minute walk from the property.

Coatbridge is close to Glasgow, this is an easy 20 minute commute using the great road connections and train links.
Premises
Taste Of China is set on a first floor property. There is an entrance on the main high street, this is well signed. The door leads to the stairs, which go up to the restaurant.

This is an open plan restaurant with seating for up to 60 covers. The reception and bar area is to the front, by the stairs. The restaurant is buffet style, with the central serving buffet opposite the bar.

Through and behind the bar is an extensive kitchen with store room to the rear. The kitchen is fully equipped with a Chinese cooker, electric fryer, conventional cooker, 3 stainless steel tables, a single, double and triple bowl sinks, 3 stainless steel fridges, 3 chest freezers, a larder fridge, 2 under counter fridges, a salad fridge, plate warmer, desktop computer, laptop and buffet unit.

Male and female toilets are situated near the entrance.
Tenure
We are advised the business is being sold as a Leasehold opportunity.

Original lease length: 20 years

Remaining lease length: 15 years as of 2016.

Rent: £23,587 per annum
hours
The business opening hours-

Monday - Saturday: 12pm – 11pm

Sunday: 4pm – 11pm
staff
The business is run and managed by our clients, with the help of six members of staff.
Financial profile
The business generates a turnover in the region of £365,000 per annum.

Gross profit 70%

What Zoopla users think of Coatbridge

Overall rating:

  • currently 4.5 stars
Very good - 85% (42 ratings)

Ratings breakdown:

  • currently stars
Community & safety
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Entertainment & nightlife
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Nearby transport

  • Coatbridge Central (0.2 miles)
  • Coatbridge Sunnyside (0.3 miles)
  • Whifflet (0.7 miles)
  • Glasgow Airport (15.8 miles)
  • Edinburgh Airport (26.3 miles)
  • Glasgow Prestwick Airport (32.8 miles)
  • Glasgow Central Station Bridge Ferry Landing (9.0 miles)
  • Broomielaw Quay Ferry Terminal (9.2 miles)
  • Plantation Quay Ferry Landing (10.3 miles)

Nearby schools

View all schools in North Lanarkshire
  • St Augustine's Primary School (0.5 miles)
  • Langloan Primary School (0.8 miles)
  • Sikeside Primary School (1.0 mile)
  • Coatbridge High School (0.2 miles)
  • Portland High School (0.3 miles)
  • Coatbridge College (0.4 miles)
  • Mavisbank School (1.6 miles)
  • Drumpark School and Nursery (1.8 miles)
  • Glencryan School (5.1 miles)
Note: Distances are straight line measurements

Local info for North Lanarkshire

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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