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Ayrshire Restaurant & Takeaway Group (Ayr/Prestwick) For Sale

Prestwick, South Ayrshire, UK
Freehold Price:
On request
Lease Asking Price:
£195,000
Sales Revenue:
£825,788
Cash Flow:
£134,409

Vito’s Restaurant Group
Cafe Vito & Vito To Go, Burns Statue Square, Ayr & Vito's, Main Street, Prestwick

• Well established Ayrshire Restaurant Group plus takeaway
• Prime trading locations within Ayr & Prestwick town centres
• 100 cover restaurant & separate takeaway in Ayr & 65 cover restaurant in Prestwick
• Both venues recently refurbished to a high standard
• 2020 Group Turnover £825,788 net with 70% GP
• 2020 adjusted net profit £134,409
• Freehold offers for Ayr & individual offers considered

The business/opportunity
Our clients have owned the property in Ayr for over 35 years, and established the first Vito’s restaurant approximately 15 years ago before opening their Prestwick restaurant in June 2018. The
Vito’s restaurant brand is therefore extremely well established within Ayrshire and enjoys an excellent reputation for its food and service, serving quality, freshly made, Italian food.

The restaurants benefits from a strong customer base made up of local residents, surrounding workers and shoppers, as well as generating trade from the nearby amenities including the cinema, railway station, racecourse etc in Ayr and the Airport and Golf courses etc in Prestwick. The restaurants also benefits from the high levels of tourism that Ayrshire generates throughout the year, but particularly in the summer months.

The takeaway unit at Ayr traded for many years as Dino’s fish & chip shop, which was very successful, however our clients decided to rebrand to Vitos To Go, a pizza/ pasta takeaway in April 2015, to compliment the restaurant and streamline the whole operation.

It is felt that the sale represents a tremendous opportunity for a new owner to take on these well-established restaurants and takeaway, all of which are in walk in condition, which are trading extremely profitably and still offer further growth potential.

Property Information

Property:

Available as freehold and leasehold

Lease Terms:

Ayr - Our clients are willing to offer a fresh, full repairing and insuring (FRI) lease of negotiable duration and are seeking rental offers in excess of £30,000 per annum. Freehold offers may be considered for Ayr.
Prestwick – The subjects are currently held on a 10-year lease from June 2018 with a current passing rental of £24,000 per annum subject to 3-yearly reviews.

Location:

AYR
The subjects benefit from an extremely prominent & highly visible trading position within the popular Burns Statue Square, in the heart of Ayr town centre, a popular coastal town on the west coast of Scotland.

The subjects receive high levels of footfall and passing traffic, with the surrounding area home to a good mix of retailers, other licensed premises and offices including Burns House across the road which accommodates South Ayrshire Council.

The business also benefits from the Odeon Cinema which is directly opposite as well as being positioned close to Ayr Railway Station. Other amenities in close proximity include Ayr Central Shopping Centre, Ayr Racecourse, The University of West of Scotland’s Ayr campus, as well as the popular seafront itself.

Prestwick
The subjects benefit from a prime trading position on the Main Street within the popular coastal town of Prestwick in South Ayrshire on the west coast of Scotland, about 30 miles south west of Glasgow.

The Main Street is an extremely vibrant thoroughfare which benefits from high levels of footfall and passing traffic, and was the winner of the best High Street in the country at the Great British High Street Awards 2019.

The Main Street is home to a good mix of local and national retailers and is a popular licensed circuit with a number of bars and restaurants including the Vic and the Vine, The Prestwick Pioneer, The Taj, Caprice, Lido and the Red Lion to name a few.

Prestwick itself has a population of approximately 15,000 with the adjoining town of Ayr home to a further 47,000 which is supplemented by the high levels of tourists and day trippers. Prestwick benefits from the nearby Prestwick Airport which serves many European destinations and is also famous for its golf club which was home to the first Open Golf Championship.

Energy Performance Rating:
G

Other Information

Related Documents:
Leasehold asking price:
£195,000

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