Authentic Modern Italian Restaurant in South London For Sale

Situated in a Parade, excellent trading position, residential, office and commercial area, SW LONDON

Turnover £ 12,500
Price £399,950

Features

Licensed Authentic Modern Italian Restaurant

6 DAYS OPENING

5 STAR HYGIENE RATING

SINGLE FRONTED AIR-CONDITIONED PREMISES, Cctv (16 cameras), Ceramic tiled flooring, suspended ceiling with spot lights and feature pendants.

Tables and chairs seating 55 people.

Bar / Counter - Epos cash register, under counter fridges, ice machine, glass washer, coffee machine (2 group), grinder, knock out drawer, water filter, wash hand basin, double door bottle cooler, double zone wine fridge, etc.

2 Unisex cloakrooms with toilet and wash hand basin.

SEPARATE KITCHEN - Stainless steel extractor, Rationale oven, pasta boiler, 8 burner hob, double tank deep fat fryer, pizza oven (electric), microwave, twin zone double drawer fridge, chest freezer, triple door fridge with counter, fridge, blast chiller, double door pizza topping fridge, meat slicer, dough mixer, double sink and drainer, dishwasher, hand wash basin, pasta machine,

Walkin fridge.

Staff cloakroom with toilet and wash hand basin.

Office.

Dry Store - Freezer.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,500 p.w. with a Gross profit of 60% approx.

Huge potential to increase takeaway sales which presently run at less than 10% of weekly turnover.

Staff

The business is at present operated by the vendor with 8 full time staff and 2 part time staff.

We are informed the wage bill averages £4,750 p.w. approx.

Trading Hours

6 Day week

TUESDAY - FRIDAY 12 Noon - 3 p.m. then 5.30 p.m. - Midnight
SATURDAY & SUNDAY 12 Noon - Midnight

CLOSED MONDAY

We are advised there is demand and potential for longer opening hours.

Outside

Bin store

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on 2 SECURE RENEWABLE leases both from private landlords.

Lease 1 - Granted for 16 years in 2010 with reviews every 4 years (next review 2026) at a current rent of £23,928 p.a.

Lease 2 - Granted for 10 years in 2021 with reviews every 5 years (next review 2026) at a current rent of £12,996 p.a.

We are advised the Landlords are prepared to accept surrender of the existing leases aNs grant, to an approved applicant, NEW LEASES AT TERMS TO BE AGREED.

NIL Business Rates after full relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2019, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDOR'S RETURN TO ITALY.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £399,950 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 199,975 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote