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£445k Lake District village restaurant seeks new owner

Wild Olive, a restaurant and takeaway situated in the Lake District village of Gosforth, has been brought to market via Christie & Co, with an asking price of £445k.

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

The restaurant caters for 60 diners, with additional outdoor seating for a further 20 al fresco diners. It benefits from an authentic wood-fired pizza oven that services both the restaurant and the 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 commented, “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, “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.”