Business for Sale in Norwich City Centre, Norfolk Sushi & Ramen Restaurant & Takeaway

Key Information

Reference

R34192E

Tenure

Leasehold

Status

For Sale

Region

Norfolk

Sector

Restaurants

Annual Sales

£406,810.00 Exc. VAT

Rent Payable

£19,000 per annum (paid quarterly in advance).

Business Rates

£5,122 per annum.

Accommodation

No

Business Information

EMF are delighted to bring to market this popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportunity for the new owner to either continue and further grow the business, or alternatively to relaunch with their own ideas and cuisines.

THE BUSINESS

The business was setup by the vendors approximately 5 years ago as a Japanese Restaurant and has gone from strength to strength, earning many 5 star reviews on Google Businesses and gaining quite a following on social media. Offering a selection of delicious Japanese dishes, they are known for their freshly prepared Sushi and Ramen and have recently relaunched their website to tie in with the overall theme.

The ever increasing popularity of the business is reflected in the turnover, which was in excess of £400,000 for 2022, with the good level of profit which a business of this type would be expected to enjoy.

With limited competition in the city for this style of cooking, the business has many regular customers, over both lunchtime and in the evenings, as well as with its takeaway offering, which we understand the Council have advised the vendors they can provide as a supplemental service.

With very positive reviews on TripAdvisor and other review websites, it’s easy to see why the business is so popular and does so well. It now only comes to market reluctantly as the vendors are wishing to relocate outside of Norwich.

PREMISES

The business is situated in an ideal location in the city centre in St. Giles Street, and is surrounded by other independent restaurants and businesses and enjoys significant footfall past its front door.

The Grade II Listed building is packed with charm and character, providing a quirky layout with feature sash windows, exposed timber beams and a warming fireplace adding to the atmosphere inside.

On the ground floor you will find one of the dining areas, with quality tables, chairs and benches, mood lighting and features connected to the cuisine on offer. To the rear is the main kitchen which provides a range of preparation and cooking areas and equipment, with full extraction installed. A further pantry and storage area leads to the back door providing access to the bin storage area and side access.

Moving upstairs, there is a second dining room with good natural light, providing ample space for a further 20 covers. The customer and separate staff toilets are located on this floor, as is a further storage room. In addition, is a decent sized room which is currently used for drink preparation and washing up, with sink, dishwasher, coffee machine, fridges, microwave and work surfaces.

Lastly, the top floor provides two large additional rooms which are currently used as a staff room and to provide further storage of goods, which have the added benefit of A1 consent should a new owner wish to utilise this.

The premises benefit from air-conditioning on the ground floor, speakers to play ambient music, C.C.T.V throughout, EPOS till system as well as a full alcohol licence.

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ADDITIONAL INFORMATION

AGENTS NOTE: This is a business for sale as a going concern, not an empty premises for sale or let.

CONFIDENTIAL INFORMATION: In order to release further information on the business – such as the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.

REFERENCE NUMBER: R34192E.

OPENING HOURS: 5:30pm to 9:30pm Monday. 12:00pm to 2:30pm and then 5:30pm to 9:30pm Tuesday to Saturday.

TENURE: Leasehold - 10 year lease starting from 27th April 2022. We understand the lease is within the Landlords and Tenants Act 1954.

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the lease.

RENT PAYABLE: £19,000 per annum.

RATES PAYABLE: £5,122 per annum.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

STAFF: Two full time, eight part time at the time of instruction.

EPC: ‘D’ rating, certificate reference number 9262-3005-0528-0200-4021.

PRICE: £85,000.

For the benefit of the leasehold, goodwill of the business, fixtures, fittings and equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING: Strictly by appointment only, please get in touch to make an appointment.

FINANCE: We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.

BUSINESS TO SELL: Thinking of selling your business? That's our business!

If you are interested in finding out how much your business is worth, we offer a free and confidential valuation service. You can choose the time and day that suits you best, and we will give you an honest and professional assessment. Please contact our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing our businesses in a way that sets us apart from others. We provide quality property details and comprehensive information on all online platforms and our own website. If you want your business to stand out from the crowd, call us to book a free valuation.

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DISCLAIMER

1. Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets, flooring or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.