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Restaurant Group puts three sites up for sale for £2.8m

25 May 2011 by
Restaurant Group puts three sites up for sale for £2.8m

The Restaurant Group, the company behind Garfunkel's and Frankie & Benny's, has put three sites in the South-east up for sale for a total of £2.8m.

The company's three bar-restaurants, in Shepperton, Guildford and Fareham, are being marketed by property agents Christie & Co.

The Bar & Grill in Old Shepperton, Middlesex, is a detached two-storey building with a reception bar for 14 people, a dining area for 65 and an enclosed courtyard garden for a further 16. It also has an office and three staff bedrooms. The freehold is on the market for a guide price of £1.1m with predicted annual turnover of £650,000.

Hollyhocks in the village of Bramley near Guildford has a three-section restaurant, catering for 58 with a further restaurant area on the first floor for 28. It is on the market for £750,000, with a predicted turnover this year of £380,000.

Meanwhile, Brasserie 68 in Fareham has two dining areas and a bar seating 87 in total, the business has additional function and meeting rooms and an unused 2nd floor, three-bedroom flat. It has an asking price of £975,000 for the freehold, with turnover of £555,000 forecast for 2011.

Simon Chaplin, director of Christie & Co, said: "These three bar-restaurants offer an exciting opportunity for either group or individual purchase. Quality, profitable businesses like these, in excellent and affluent locations, are rarely presented for sale. We expect they will generate considerable interest."

The Restaurant Group warns over consumer spending >>

The Restaurant Group sees full-year profits rise by 17% >>

Restaurant group Canteen to expand to up to 15 sites in five years >>

By Neil Gerrard

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