Coffee Shop and Sandwich Bar in Central London For Sale

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

Turnover £ 3,750
Price £275,000

Features

Coffee Shop, Croissants and Sandwich Bar (with Authentic Pizza Oven - Not Used)

6 DAYS OPENING

4 STAR HYGIENE RATING

EXCEPTIONAL SINGLE FRONTED AIR CONDITIONED PREMISES, in the region of 800 ft², Tiled flooring, plasterboard ceiling with track lights, feature wall lights and pendants, cctv (11 CAMERAS.).

Tables and chairs seating 25 people.

Sales Counter - 'Square' card payment facilities, display chiller, 2 group coffee machine, grinder, knock out drawer, wash hand basin, glass washer,

Stairs to BASEMENT in the region of 500 ft².

Preparation area, double sink with drainer, diswasher, induction hob. Dual fuel (wood and gas) pizza oven with extraction system, turbo fan, etc.

Cloakroom with toilet and sink.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £3,500 p.w. - £4,000 p.w. with a Gross profit of 65% approx.

Historically the premises has traded as a pizzeria ( specialising in pizza and fresh pasta) which could easily be reintroduced.

Staff

The business is at present operated by the vendor with the assistance of 1 part time staff.

Trading Hours

6 Day week
MONDAY - SATURDAY 8 am - 5pm
CLOSED SUNDAY

There is huge potential and local demand for longer hours.

Accommodation

THE SELF CONTAINED ACCOMMODATION entrance via door to the rear of the shop to Flat above comprising;

Fitted kitchen / diner.

3 Bedrooms each with ensuite shower room (Shower, toilet and wash hand basin)

We are advised two are the rooms are each let at a rental income of £1,100 pm

Outside

First floor terrace.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2017 with reviews every 5 years (next review 2027) at a current rent of £48,000 p.a.

We are advised, to an approved applicant, the Landlord will consider granting a new lease 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 OFFERED FOR SALE DUE TO THE VENDOR'S OVERSEAS BUSINESS INTERESTS.

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £275,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 137,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote