Letterbox Restaurant is a well-presented boutique style restaurant which has an established loyal clientele. Situated in the centre of Newtonmore this charming business is presented in pristine condition with immaculate décor throughout the operation areas. Both the premises and business reflects the imagination and sound application of the current proprietors, the business mirrors their professional endeavours and on-going investment. Appealing and warmth of ambience are two key descriptors when summing up the character of this well-developed business which offers an excellent range of modern and traditional Scottish cuisine utilising a range of locally sourced products; this operation provides seasonal fayre to a consistently high level. The quality of catering is supported by a superb standard of customer care focussing on a non-intrusive service style but with attention to detail in every respect. Service levels at the Letterbox Restaurant reflect the exemplary standards required by the owners who are supported by a small team of motivated staff. The business comes to the market ready to operate with no requirement for further significant capital investment. Letterbox Restaurant became an established restaurant venue in 2010.
Trading below the VAT threshold by choice, the present operators have a young family to focus on and believe there is significant potential to develop the business further. The existing trading model has two income streams of liquor and food sales. The current wine list is varied and meets the needs of a wide range of customers and tastes. The service of beers is from a range of bottled varieties. The standard of food production is excellent and has resulted in a growing turnover. The current trading patterns have been set to suit the proprietor’s personal preferences to enable them to make their family life a priority. The business has restricted opening hours undertaking evening meal service only in the summer. The development of cafe / lunch trade during the day would undoubtedly increase sales and profitability. Currently in the winter the business operates Wednesday – Saturday and new owners could therefore open the extra three days a week to boost income. In addition, there is also scope to increase the number of covers within the restaurant.
The restaurant is ideally situated to take full advantage of the many holiday lets, B&Bs and hotels within the vicinity. Likewise, its central location is perfect for locals, being right on the main thoroughfare in the village. Newtonmore is well served with facilities, shops and services for visitors and sits within the Cairngorm National Park. The area is used as a central vacation base for exploring the wider area and taking in its many attractions. The region’s striking landscapes attract outdoor enthusiasts wishing to take advantage of the Cairngorm and Monadhliath Mountain ranges. Hill walking, mountaineering and water sports are ever popular in the summer season and the area benefits from ski provision, and snow and ice climbing in the winter. The more sedate outdoor pursuits such as bird watching and fishing also draw a great many visitors to the region who take advantage of the abundance of wildlife in the Spey valley. For the adventurous golfer a number of good quality courses are within the immediate area. The region is also famous for its castles and distilleries which appeal to the more pedestrian tourist. Newtonmore enjoys a beneficial geographic location as a base from which visitors can continue their odyssey of both the Highland and Grampian regions but is also an ideal waypoint to travel over to the West Coast and Fort William.
Newtonmore is a thriving Highland village with a strong sense of community with an excellent range of shops and facilities. Within the area there is excellent schooling up to High School.
Letterbox Restaurant is an exceptionally well presented business laid out over a single floor at street level. The building is of traditional stone construction with pitched roofs.
The restaurant has a commanding presence on the main street with excellent signage giving a strong brand image. Entry to the trading elements of the building is off the pavement to the front through a glass panelled door. With large branded windows and tasteful recessed spotlighting, the immediate impact is of a bright spacious and well laid out restaurant. With a wooden floor and a wood servery counter, the natural feel of this establishment is apparent. The service point has a good quality coffee machine, chillers, wash hand basin, electric till and is well stocked with wines, bottled beers and soft drinks. This initial area is presently set to 14 covers. A door leads into the main restaurant area which is currently laid to 18 covers and continues with the same style of décor. Within this area are the WCs which are fitted out to an exceptional standard; there is a ladies/disabled facility plus a gents.
The commercial kitchen is located immediately to the rear of the main restaurant facilitating ease of customer service. This exceptionally well fitted-out workspace comes complete with top quality facilities, utensils, refrigeration units and food preparation aids. It has an effective extraction unit, tiled flooring and meets the highest standards both in facilities, cleanliness and output. The kitchen has a dry goods store and immediate access to the rear of the property to enable ease of access for deliveries etc. The premises are fully compliant with Environmental Health and Fire Regulations with modern detection systems.
There is no owner’s accommodation available with the lease.
Access to the restaurant and kitchen is available from the rear, where there is also bin storage. There is a local authority public car park immediately to the rear of the premises affording customers easy access to the restaurant.
The subjects benefit from mains electricity, water and drainage. Propane Gas is used for cooking and the central heating system is oil fired. The premises are double glazed throughout.
The business trades profitably without exceeding the VAT threshold from restricted opening hours. Full accounting information will be made available to seriously interested parties subsequent to viewing.
Letterbox Restaurant operates a liquor license under the Licensing Scotland Act 2005 and a copy of this will be made available to interested parties post viewing.
LEASE HEAD OF TERMS
Capital Premium: £30,000
Rent: £12,000 p.a. rent
Rent Payments: Monthly in advance
Rent Reviews: Every Five years in line with RPI
Lease Duration: 10 Years
Leaser Type: Full Repairing and Insuring; lessee bears the cost of Insurance
Key Entry Details: Condition survey to be carried out (by mutual agreement and shared costs)
Stock at cost: Paid in full within 28 days.
Entry Date: As Agreed
Full Lease to be presented within 30 Days of Draft offer