Modern Décor Cafe in Canonbury For Sale

Situated in a parade, prominent trading position, residential, office and commercial area, NORTH LONDON CANONBURY

Turnover £ 5,000
Price £85,000

Features

Modern Décor Cafe, Sandwiches, Pastries & Gelato

6 DAYS OPENING

NEWLY FITTED business established 6th August, 2020

SINGLE FRONTED PREMISES in the region of 250 ft² with Victorian awning, shop-front window used as a display for sandwiches, pastries and so on. Woodstrip floor, Avant Garde lighting system, Gentrified shop interior design (predominantly bare brick, wood, and metal exposed). New air conditioning unit, bread and pastries oven, new 2 group Espresso machine (under warranty), open front display drinks fridge, new double panini grill, electric rise and drop salamander grill, ice machine, new double door freezer, new upright fridge, 2 single door upright freezers, new horizontal worktop fridge, new salad fridge, new air extraction system, new 14 pan ice cream display freezer, new sandwich preparation stainless steel work ben, storage cupboards, rear storage racks for packing, cups, 30 litre instant hot water system

Basement, used for storage purposes

Staff toilet with w.c. and wash hand basin

Turnover

WE ARE INFORMED by the owner the turnover currently averages £230,000 per year with a gross profit of 65% approx. Potential to increase income to £336,000 by including:

1. 7-day opening week to an income potential increase by £33,000 (based on current earning averages)
2. Delivery apps. £73,000 per year

Staff

Presently 2 full time staff and 2 part time staff members operate the business

Trading Hours

The business is presently opened 6 days a week
MONDAY - FRIDAY 7 a.m - 5 p.m
SATURDAY 8 a.m - 4 p.m

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 15 years in 2015 with reviews every 4 years (next review 2027) at a current rent of £20,000 p.a.

Business Rates from April 2023 £1,500 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2015 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £85,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 42,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote