»Featured Property
RESTAURANT/BAR
LOCATION: This lucrative lock up business is located on a very busy main road with the benefit of passing traffic as well as large residential area. The business is surrounded by other retail outlets, offices, schools and night clubs. The area is very well served by public transport all the major bus routes pass the doorsteps and the underground & train stations are a few minutes walking distance away.
THE BUSINESS: Regrettably offered for sale as our client now entering into a larger venture and unable to give full attention to the daily running of this business. The restaurant in our client’s ownership for the past 3 years and has ever catered for authentic African cuisine and enjoyed reputation of offering varied and high quality fare served in pleasant traditional surroundings. The same cuisine can be continued and in our opinion there is potential for other types of cuisine, if wished. The business is at present operated by the owner with the assistance of 4 full-time staff.
The single fronted premises are clean and tidy as required by law in this type of operation. The restaurant measures approximately 433 sq ft. The customer area provides seating for 20 in comfort. (Opportunity to increase) The operation is fully equipped to suit the trade. Inventory briefly includes under counter fridge, extractor hood, 2 upright freezers, double door fridge, hot display unit, 4 micro ovens, 6 burner cookers, double sink, service counter, 4 CCTV cameras, electronic cash register, etc. There is storage, kitchen, Ladies/Gents w.c. at the rear.
TURNOVER: We are advised that the taking average £3,000 per week at a high margin of gross profit.
HOURS: 11.00 a.m. to 12.00 midnight Monday to Saturday
2.00 p.m to 12. 00 midnight Sunday
TENURE: We are advised that there is a balance of 13 years remains on the lease (effective November 2005 for a term of 16 Years) with rent reviews every 4 year. Rent payable £20,000 per annum. Uniform business rates payable £3,500 per annum approx.
VIEWING: By appointment ONLY
Category:
CAFE/RESTAURANT
Tenure: Freehold
Price: £69,000.00
Ref. No: C1378
Location: Close Elephant Castle
Lot Size: 0 Acres
Total Sq. Footage: 0 sqft
Parking Spaces 0 Cars
No. of Floors: 0
No. of Rooms: 0
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