West Midlands, B2 5RS

An established, popular restaurant business set in a busy location approximately 50 metres from New Street in the heart of Birmingham

Vacant possession will be offered on completion.

The Owners of Amantia Restaurant are pleased to offer this high quality business for sale. The premium will include the residue of the leasehold interest in the property, the goodwill of the business and the fixtures, fittings and substantial improvements made to the property.

Details - LOCATION

The property is located on Bennetts Hill, a busy commercial street approximately 50 metres from New Street and is surrounded by other popular eating establishments such as Bella Italia, Ask Italian, Wagamama, Bodega, The Indian Streatery and the Cozy Club thus making this area one of the most visited dining areas in Birmingham.DESCRIPTION

The premises have been substantially modernised and are in immaculate condition. There is a fully fitted, functional and well equipped kitchen and an attractive main bar area. At ground floor level one will find the main restaurant and bar and the basement has a private function room with bar, the kitchen, a staff room and an office together with guest toilets. A full list of the fixtures and fittings can be supplied on request. The total acquisition value of the fixtures and fittings exceeded £180,000 and have been well maintained. The total fit out cost was approximately £130,000. The buyer will have the benefit of the fixtures and fittings, the improvements and the existing goodwill of the business for the purchase price.ACCOMMODATION

Amantia is a popular and well regarded, niche, Spanish restaurant which has developed a reputation for excellent food and for providing well attended and select Spanish themed evenings with dancing and live music in the function room. The business was established in or about 2014 and turnover has increased year on year with a current projected annual turnover in the region of £605,000. Full accounts can be supplied on request. The property has the benefit of a CCTV security system and a compliant and fully maintained fire alarm system.

The premises fall within Use Class A3 (restaurant use) and have the benefit of a current alcohol licence. AMENITIES

THE GROUND FLOOR

Restaurant and Bar Area: 17.68m x 11.58m (including dessert prep. area: 3.73m x 2.54m)

Easy Access Toilet

Storage Room: 4.32m x 2.65m

THE BASEMENT LEVEL

Function Room: 13.35m x 5.23m

Kitchen and Washing Area: 12.23m x 5.09m

Dry Store: 5.98m x 5.10m

Plant Room: 4.53m x 3.16m

Gents Toilet: 4.36m x 1.92m

Ladies Toilet: 5.34m x 1.94m

Staff Room: 3.84m x 2.45m

Office: 2.44m x 2.44m

TERMS

The current owners occupy pursuant to an underlease dated 10th November 2014 and the immediate landlord is Sainsburys Supermarkets Ltd. The term granted by the underlease expires on 21st December 2020 and the new term and rent will be negotiated at that stage. The current rent payable is £65,000 per annum plus VAT. Details of both the headlease and the underlease can be supplied on request. OUTGOINGS

The Business Rates payable for the 2018 Financial Year were £47,081.50 however reliefs may be available and any buyer of the business must make their own enquiries.VAT

Unless specified, all monetary sums will be exclusive of VAT where applicable.LEGAL COSTS

Each party will pay his/her own legal costsPLANNING

The premises fall within Use Class A3 (restaurant use) and have the benefit of a current alcohol licence.