Licensed Tapas Bar in South London For Sale

Situated in a Parade, excellent main road trading position, wealthy residential and commercial area, close to stations and hotels, SW LONDON.

Turnover £ 8,000
Price £320,000

Features

Immaculate well Established Licensed Portuguese Tapas Bar

4 STAR HYGIENE RATING

Outside seating for 12 people.

IMPOSING SINGLE FRONTED, AIR CONDITIONED, PREMISES, in the region of 1,220 ft², with electric shutters, alarm, cctv (7 cameras), A combination of tiled and wooden flooring, suspended ceiling with spot lights.

Brand new tables and chairs seating 60 peolple.

Bar - Electric cash register, coffee machine (on lease), grinder (on lease), under counter fridges, glass washer, wash hand basin, mirror backed shelving, display chiller, etc.

Ladies cloakroom with toilet and wash hand basin.
Gentlemans's cloakroom with toilet and wash hand basin.

Kitchen - Stainless steel extractor, double basket deep fat fryer, grill (gas), 6 burner cooker with oven beneath, microwave, 2 stainless steel counter top fridges, 2 under counter fridges, 4 upright fridges, ice maker, diswasher, double sink and drainer, 3 stainless steel preparation tables,

Walkin freezer

Store room.

Office.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 p.w. with a Gross profit of 65% approx.

Staff

The business is at present operated by the Husband & Wife team with 2 full time staff employed and casual staff as required.

Trading Hours

7 Day week

MONDAY - SUNDAY 10.30 am - 11 pm

Opportunity to extend, the licence allows 6.30 am - 11.30, 1.30 am close on Friday & Saturday

Outside

Bin store.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 20 years in 2020 with reviews every 5 years (next review 2025) at a current rent of £30,000 p.a.

Business Rates from April 2024 £2,800 approx. after small biz and hospitality relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2019 & OFFERED FOR SALE DUE TO THE VENDOR'S OTHER FAMILY COMMITMENTS.

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £320,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 160,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote