Inverness has been described as the happiest place in the UK and certainly has a huge amount to offer particularly for outdoor pursuits.
The city is the hub for retail and commercial activity, and is the principal city in the north of Scotland. The mainstay of the economy are Government institutions, including Scottish National Heritage, Highlands and Islands Enterprise and other Government bodies. Significant employers also include the National Health Service. Within the private sector, tourism is the largest employer in Inverness and, thereafter, there is a focus on development of high-tech design and manufacturing businesses.
Specifically, the property is suited withing the core town centre adjacent to the main bus terminus and close to the railway station. This is an ideal location for a busy city centre take out / delivery business.
The premises are arranged over the ground floor within a modern and attractive 4 to 5 story building with residential occupiers on the upper levels. There is a glazed frontage and the branded Pizza hut signage.
Internally there is a customer area, food preparation area, staff toilets / staff room and ancillary accommodation. The gross internal floor area is estimated from plans provided at approximately 1,600 sq. ft.
The property is connected to all mains services, including water, electricity, gas and drainage.
The Rateable Value is £21,000. A new occupier will have the right to appeal the Rateable Value.
The Business & Opportunity
The business is that of a franchised Pizza Hut delivery / take out store. Pizza Hut is the world’s largest pizza chain in terms of locations and Pizza Hut has around 18,500 restaurants worldwide. This is an exciting opportunity to acquire an existing profitable business which subject to the franchisor approval may be the stepping stone to further store developments in Scotland and the UK.
Pizza Hut Inverness sales (excluding VAT)
The business showed steady growth over 2018/19 until early 2020 when sales increased significantly with increased demand during 2020 and 2021 for takeout / home delivery. The unit is trading highly profitability and full profit and loss accounts may be made available to seriously interested parties typically after viewing.
Yum! the owner of the pizza hut franchise in the UK has strict guidelines in franchisee approval and business operation. Any purchaser will be required to satisfy Yum! as to their suitability as a franchisee. Typically, the brand owner will look for a franchisee able to invest around £250,000 unencumbered cash into the business. Further a suitable franchisee will be required to demonstrate a true commitment to brand standards and excellent customer service. The ambition to expand and develop the brand with future store openings would also be helpful.
2016 at the rent of £20,000 pa. Rent reviews are 5 yearly and the next rent review is due in August 2021.
The premises has an EPC rating of TBC.
Our clients are seeking offers over £195,000 for their valuable franchised business. Stock in trade will be additional and paid for at the date of entry. As a franchise business a purchaser will be required to satisfy both the Landlord and Franchise holder as to there suitably as tenant and franchise holder. As such it is anticipate the purchaser will be a well-capitalised individual with significant business expertise.
Designed & built by Mucky Puddle