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PRICE REDUCTION: Urban Burger, Exeter

PRICE REDUCTION: Urban Burger, Exeter - 26th April 2017

POPULAR RESTAURANT/BAR IN PRIME CITY CENTRE TRADING POSITION

Recently reduced - leasehold £185,000

Stonesmith are delighted to be marketing a fantastic opportunity to purchase the leasehold of Urban Burger - a popular independent restaurant/bar in a prime location. The property comprises of the four lower floors of a six-storey end of terrace, Grade 2 Listed, character property which was converted to a restaurant in the late 1980s. It underwent a complete refurbishment in 2005 to an extremely high standard throughout.

The premises are situated in a prime trading location in the heart of Exeter city centre, fronting Queen Street, close to the High Street and main shopping areas, and opposite Central Station. The immediate area is a busy mixed use location close to Exeter College and various high density residential developments and is therefore well placed to benefit from the considerable commercial advantages of this much sought after trading position. The business benefits greatly from both students and workers at Exeter University during term times.

Exeter itself is the regional capital of the South West and as such, is not only an established and expanding business centre, but also a popular year-round tourist destination, renowned for its historic cathedral, university and waterside developments. Exeter also boasts excellent transport links and an international airport.

The premises briefly comprise of a ground floor restaurant, comfortably accommodating 80 customers, and a basement bar with a capacity of 120 and a separate entrance from Queen Street. There is a fully equipped commercial catering kitchen on the lower ground floor, with various ancillary and welfare facilities and a cellar. The business trades as a high quality gourmet burger restaurant with a quality bar and party venue. There is an extensive menu of freshly prepared food reflecting the best local produce which the surrounding area has to offer. Our clients have overseen the day to day running of the business during their 6 years of ownership, and the premises are fitted and equipped to an extremely high standard throughout. The restaurant is combined with Urban Underground, a recently refurbished air-conditioned bar which offers a comprehensive drinks list and cocktails in a fresh and gritty decor with live DJs.

The sale of Urban Burger provides an excellent opportunity to purchase a thriving and well regarded high turnover city centre restaurant and bar, with exceptional profits, the like of which is seldom available in the open market. There is potential for incoming operators to develop their own trading style, in a manner to suit their own personal requirements and take advantage of the sought after location and the high specification fit-out that the premises have enjoyed. The business benefits from its own website www.urbanburger.co.uk which provides further background on the business.

For sale on a leasehold basis, Stonesmith are looking for offers off a guide price of £185,000. Details are available from the website www.stonesmith.co.uk and viewings arranged by calling 01392 201262

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