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£375,000
Bedrooms
Bathrooms
A Charming Family-Run Italian Restaurant For Sale in Bacup, Rossendale
Imagine owning a superb, family-friendly Italian restaurant with over 20 years of success, a sterling reputation, and an authentic Italian atmosphere. Marios is a much-loved gem, serving the Bacup community, offering a cozy yet lively dining experience. Whether youre continuing its legacy or envisioning something new, this versatile property holds endless possibilities, from continuing the restaurants success to transforming it into apartments subject to necessary planning permissions.
RESTAURANT
Marios has been a staple in Bacups dining scene for more than two decades, known for its warm, welcoming vibe and genuine Italian cuisine. With the capacity to host between 65-70 guests, the restaurant currently generates an impressive annual revenue of around 250k, boasting a remarkable 74% profit margin. Everything you see is included in the salecommercial kitchen equipment, tables, chairs, bar, and more, making it a seamless opportunity to step right in and keep the momentum going.
Strategically positioned on the bustling Market Street, the property enjoys excellent visibility and passing foot traffic, thanks to its proximity to a busy Morrisons & Aldi supermarket. This prime location makes it an ideal investment, whether youre looking to continue its culinary journey or pursue a new venture.
DESCRIPTION
The property itself is a charming stone-built end terrace with a slate roof and a single-storey annex. Its impeccably maintained both inside and out, with gas-fired central heating and UPVC double-glazed windows throughout, ensuring comfort and energy efficiency.
The restaurant is located on the ground floor, featuring a beautifully designed dining area, a welcoming reception, and a cozy bar that sets the stage for unforgettable meals. Upstairs, youll find a spacious 3-bedroom apartment, perfect for on-site living or additional rental income. The property also includes a generous cellar with ample storage and staff facilities.
RENOVATIONS
A series of tasteful renovations have been completed over the past few years, ensuring everything is in excellent condition:
Toilet Renovation: 2016
Kitchen Renovation: 2016
Restaurant Renovation: 2017
Bar Renovation: 2018
The restaurant comes fully equipped with a state-of-the-art commercial kitchen, including a gas pizza oven, pot wash system, refrigerators, freezers, ovens, and all the tools you need to deliver an exceptional dining experience.
OVERVIEW
Spread across three floors, the property offers extensive space, each thoughtfully designed and fully functional for business operations and living.
CELLAR
Includes multiple storage rooms such as a bottle store, boiler room, and laundry area (1,103 sq. ft.). Also features staff changing rooms and WC.
GROUND FLOOR
ENTRANCE HALL
Restaurant Area (1,309 sq. ft.)
Bar Area (161 sq. ft.)
Kitchen (130 sq. ft.)
Food Prep Area (248 sq. ft.)
APARTMENT
A spacious 3-bedroom apartment located on the upper floor, perfect for personal living or additional rental income. It includes:
Bedroom 1: 118.24 sq. ft.
Bedroom 2: 195.26 sq. ft.
Bedroom 3: 184.76 sq. ft.
Kitchen: 45.33 sq. ft.
Lounge: A large, airy living room with lovely views over the front of the property.
Bathroom: A comfortable, well-appointed bathroom with a shower, hand basin, and WC.
SITE AREA & PARKING
The entire site spans approximately 2,000 sq. ft., offering ample space for your vision to come to life. While there is no dedicated parking, there is a verbal agreement in place with a nearby landowner for parking spaces, perfect for customers and staff.
SERVICES
The property is equipped with all mains services, including efficient gas-fired central heating, ensuring comfort for both diners and residents.
BUSINESS RATES
The property has a Rateable Value of 13,250, with Rates Payable approximately 5,000 per annum, as informed by the Local Rating Authority.
LEGAL COSTS & VAT
Each party will be responsible for their own legal costs. All prices are quoted exclusive of VAT, but VAT may apply at the prevailing rate.
VIEWING
To truly appreciate the charm and potential of this fantastic property, viewing is highly recommended. Book your appointment now through the Agents for an exclusive tour.
LOCATION
Bacup is a historic town nestled in the Rossendale Valley of Lancashire, England. Known for its rich industrial heritage, Bacup flourished during the 19th century as a bustling center for textile manufacturing. The town is characterized by its distinctive stone-built terraces, picturesque landscapes, and a strong sense of community. Today, Bacup retains much of its traditional charm, with landmarks like the Bacup Natural History Society Museum and the iconic 14th-century St. Johns Church attracting visitors. Its vibrant local culture, including annual events like the Bacup Easter Saturday Folk Parade, highlights the towns enduring spirit and deep-rooted traditions.
The area surrounding Marios is a vibrant mix of traditional Lancashire character and contemporary growth, making it an appealing destination for both locals and visitors alike. The towns close-knit community is complemented by the ongoing improvements in the area, such as the upcoming Aldi supermarket, which promises to bring a convenient and modern shopping experience to Bacup. With its easy access to key transport links, the addition of Aldi will further enhance the towns accessibility and appeal, providing both locals and passing trade with a wider range of amenities.
In addition to this, Bacup is undergoing revitalization with plans for an upgraded local market, which aims to offer an even more dynamic shopping experience for those looking to support local vendors and discover unique goods. The market will serve as a hub for community engagement and a showcase for the areas rich heritage. Bacups picturesque surroundings, including stunning countryside views and charming architecture, make it a delightful place to visit, work, and live. The combination of these developments, along with the established presence of Marios Ristorante, ensures that Bacup remains a welcoming and thriving destination, blending tradition with modern convenience. Whether youre dining at Marios or exploring the growing retail landscape, the area offers an inviting atmosphere for all.
The area is perfect for those seeking a peaceful, semi-rural lifestyle with easy access to the amenities and transport links to Rawtenstall, Rochdale, Burnley, Blackburn, Accrington, Manchester and Leeds.
Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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