Authentic Italian Restaurant in South London For Sale

Situated in a parade, excellent corner location, prominent main road trading position, densely populated residential area, SE LONDON

Turnover £ 11,000
Price £250,000

Features

Licensed, Authentic Italian Restaurant

Outside seating for 12 people.

5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES, in the region of 1,350 ft², WITH ELECTRIC SHUTTERS, CCTV (8 cameras), tiled floor, sound proofed suspended ceiling with spot lights.

Tables and chairs seating 50 people.

Bar - EPOS cash register, two group coffee machine, grinder knocfk out drawer, under counter fridges, desert fridge, ice machine, freezer, wash hand basin, mirror backed shleving.

Ladies cloakroom with toilet and what hand basin.
Gentleman's cloakroom with toilet and what hand basin

Separate Kitchen - Stainless steel extractor, 3 deck electric pizza oven, 2 chest freezers, 1 uproight fridge, 1 upright fridhe, under counter fridge, salad fridge, diswasher, sink and basin, stainless steel prepartion tables, etc.

Office.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £11,000 p.w. with a Gross profit of 65% approx. (Delivery 25%)

Staff

The business is at present operated by the 2 partners with 2 full time chefs and 1 part time waiter.

Trading Hours

7 Day week
MONDAY - SUNDAY 11.30 am - 10pm

Outside

Bin store.

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 2018 with reviews every 5 years (next review 2028) at a current rent of £28,000 p.a.

Business Rates from April 2024 £2,200 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE NOV 2018 & OFFERED FOR SALE DUE TO THE VENDOR'S RELOCATION ABROAD.

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