Steakhouse Restaurant in South London For Sale

End of parade in an excellent main road trading position, residential, office and commercial area, SW LONDON

Turnover £ 10,000
Price £250,000

Features

Licensed Argentine Steakhouse

FORECOURT WITH SEATING FOR 8 PEOPLE
5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 1,315 ft² WITH CANOPY, laminated strip floor, spot and hanging lighting, Air conditioning with hot air, gas central heating. Bar with 1 tap, EPOS till. Tables and chairs providing seating for 65 People, CCTV system (8 cameras, 1 monitor).

Open plan kitchen area with stainless steel extractor unit, Flat Iron Cooker, deep fryer (2 pan), Rational Oven, meet fridge, freezer.

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

Basement, used for storage purposes.

Walkin coldroom..

Turnover

WE ARE INFORMED by the owner the turnover currently averages £10,000 p.w. with a Gross profit of 65% approx. (£500 ONLINE SALES)

Staff

The business is at present operated by the Manager with 3 full time & 9 part time staff.

Trading Hours

7 Day week
MONDAY - FRIDAY 12noon - 3pm then 6pm - 10pm
SATURDAY & SUNDAY 12 noon - 10pm

Outside

Rear Patio, used for storage.

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 2010 with reviews every 5 years (next review 2025) at a current rent of £42,500 p.a.

We further understand that the landlord, subject to satisfactory references, is prepared to grant a new lease at terms and rent to be agreed.

Business Rates from April 2025 £14,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2006, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £250,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 125,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote