Modern Restaurant in South London For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, SW LONDON

Turnover £ 11,000
Price £142,500

Features

Modern European Restaurant

6 DAYS OPENING

DOUBLE FRONTED PREMISES in the region of 985 ft² WITH ELECTRIC SHUTTERS. Awning with outside tables and chairs providing seating for 20 persons. Tiled floor, ceiling with chandelieers. BAR, glass fronted wine cooler EPOS till. Tables and chairs providing seating for 45 persons (can be increased to 60). CCTV system (12 cameras, 1 monitor).

KITCHEN. Stainless steel extractor unit, 2-8 burner gas cookers, grill, preparation table, 2 freezers, 3 door fridge, microwave, 20lt deep fryer, dishwasher.

Walk-in coldroom.

Walk-in freezer

Stock room

Ladies' & gentlemen's toilet with w.c. and wash hand basin

Turnover

WE ARE INFORMED by the owner the turnover currently averages £11,000 p.w. with a gross profit of 67% approx. In our opinion there is potential to introduce breakfasts. (NO DELIVERIES UNDERTAKEN AT PRESENT)

Staff

The business is at present operated by 2 partners with 4 full time & 4 part time staff.

Trading Hours

6 Day week
TUESDAY- FRIDAY 5pm - 10pm
SATURDAY & SUNDAY 12 noon - 3pm & 5pm - 10pm

Outside

Parking space for 4 cars.

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 2015 with reviews every 5 years (next review 2025) at a current rent of £29,000 p.a.

Business Rates from April 2023 £2,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2018

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £142,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 71,250 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote