Restaurant for sale
Property description & features
Rooms
Location
The premises is located in a prime trading location just outside of a major Fenchurch Street line station giving an owner high levels of passing commuter trade in addition to high levels of footfall from people travelling via trains at the weekend.
Tenure
Rolling 1-year licence available, with our client's current rent payable at £6,000 per annum exclusive.
Premises
An end-of-terrace retail shop with fascia board, serve-through hatch to the left-hand side of the shop front and single entrance door to the right-hand side leading into the premises which is arranged as follows:
BAGEL BAR/COFFEE SHOP arranged to provide laminate flooring, spot-lighting, 4 x commercial microwaves, 2 x double panini press, double under-counter display fridge, 3 x under-counter fridges, 1 x under-counter freezer, 2-group coffee machine (leased at £20 per week), coffee grinder, till, stainless-steel double sink, electric heater and various shelves.
Staff & Trading Hours
The vendor runs the business with the assistance of two members of staff, one doing two days and the other doing three days. The business currently trades Thursday to Sunday 9 am until 3 pm, with the business being closed Monday to Wednesday.
Turnover
Last 2 years' accounts confirm a net profit of £25,549 and £44,007 showing the business is highly profitable based off only 24 trading hours a week. By simply extending the trading days and times to capture the commuter trade would increase the turnover/profitability significantly, along with opening on the three days the business currently closes.
Business Rates
No business rates payable.
Legal Costs
Each party are to be responsible for their own legal costs incurred in the transaction, with the landlord's legal costs for the establishing of the new lease to be the responsibility of the purchaser and the landlord's legal costs for the surrendering of the existing lease to be the responsibility of the vendor.
Summary
A fantastic opportunity to acquire a highly profitable business based off only 24 hours trading giving huge scope to increase turnover and profitability by simply extending trading days and times. Viewing recommended.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
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*DISCLAIMER
Property reference RX258047. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Gilbert & Rose Property - Southend-on-sea.
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Broadband availability and predicted speed
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
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Energy Performance data and Internal floor area
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