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06 March 2020 | Restaurants

Established Cumbrian Restaurant & Takeaway reduces asking price by £30,000

Specialist business property adviser, Christie & Co has reduced the asking price of Wild Olive, a restaurant and takeaway situated in the Lake District village of Gosforth. Located at the foot of the Wasdale Valley where Wastwater the deepest lake in England, is overlooked by Scafell, the highest mountain. Gosforth is also home to Gosforth Cross – the tallest and oldest Viking cross in England.

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Wild Olive specialises in Italian and Mediterranean cuisine and combines high quality ingredients with traditional cooking methods. The restaurant caters for 60 customers, with additional outdoor seating for a further 20 al fresco diners, and benefits from an authentic wood-fired pizza oven that services both the restaurant and the business’ takeaway trade.

Above the restaurant there is a self-contained two bedroom duplex flat that could be utilised as owner’s accommodation by potential purchasers.
 
Wild-Olive-Interior-website.jpg

The restaurant has been owned by Nicholas and Rachel Putman for the past 10 years, and they are now seeking a sale in order to concentrate on their holiday park business. Nick comments, “We have loved our time at Wild Olive, and it has made us a great living, but it is time to move on.”

Keith Stringer, Director at Christie & Co is handling the sale and comments, “The reduced asking price will undoubtedly make Wild Olive more attractive to an owner operator looking for a business in a tranquil and picturesque part of the western Lake District. The business is currently run under management, giving the potential to reduce costs in order to increase profitability – a good proposition in light of the reduced asking price. There is also the possibility of further increasing revenue by extending the limited seasonal opening hours and further developing the takeaway pizza aspect of the business.”

Wild Olive is now on the market with a freehold asking price of £415,000.

For further information on this press release, contact:
 
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com

For further information on this listing, visit our website:
https://www.christie.com/properties/restaurants/a2j4g000009tigaua0/
 
Contact the agent:
Keith Stringer, Director
P: +44 161 833 6909
E: keith.stringer@christie.com
 
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