Cumbrian restaurant and takeaway comes to market with £445k price tag

Business property advisor, Christie & Co, has brought to the market a Lake District restaurant and takeaway, with a freehold asking price of £445,000.

Wild Olive is 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, Wild Olive specialises in Italian and Mediterranean cuisine and combines high quality ingredients with traditional cooking methods.

Gosforth is also home to Gosforth Cross – the tallest and oldest Viking cross in England.

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’s 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.

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 said: “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 said: “Wild Olive would be well suited to an owner-operator looking to relocate to a tranquil and picturesque part of the Western Lake District, near the beautiful Solway Coast.

“The business is currently run under management giving a more hands-on operator the opportunity to reduce costs in order to increase profitability.

“There is also the possibility of increasing revenue by extending the limited seasonal opening hours and further developing the takeaway pizza aspect of the business.”