Licensed Italian Restaurant in Lambeth For Sale

Business located, excellent main road trading position, residential, office and commercial area, LONDON, SE1 . Easy walking distance of Borough Tube Station & close to Elephant & Castle & London Bridge, BOROUGH, LONDON, SE1

Turnover £ 14,000
Price £275,000

Features

Licensed Italian Restaurant & Pizzeria

5 STAR HYGIENE RATING.

DOUBLE FRONTED PREMISES in the region of 600 ft². Air conditioning, tiled floor, wall, pendant and spotlighting. Tables and chairs seating 40 persons. BAR area, EPOS cash register, under-counter fridge for drinks, wine chiller, glasswasher, ice machine, ice cream freezer, handwash basin, 2 group coffee machine, grinder. CCTV (5 cameras).

Ladies' & gentlemen's cloakrooms. Disabled toilet.

KITCHEN. Tiled floor, tube lights. Stainless steel extractor, electric pizza oven ( GGF), burner hob, oven, pasta boiler, twin basket deep fryer, upright single door freezer, double door upright fridge, refrigerated making table with topping section, second pizza making table, stainless steel work surfaces, double sink, wash hand basin

Store room

Office

Cloakroom for staff

Turnover

WE ARE INFORMED by the owner the turnover currently averages £14,000 p.w. gross profit 65%

Staff

The business is at present operated by a husband & wife team with 3 full time and 2 part time staff employed.
We are informed the wage bill averages £1,600 p.w. approx.

Trading Hours

6 Day week
TUESDAY - SUNDAY - 11 a.m - 11 p.m

Outside

Bin Store

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 20 years in 2020 with reviews every 5 years (next review 2025) at a current rent of £37,000 p.a.

Business Rates from April 2024 £5,000 approx. (Please contact local authority to confirm)

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, 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