Italian Restaurant in Croydon For Sale

Situated in a parade, excellent main road trading position, residential area, SURREY CROYDON

Turnover £ 3,250
Price £75,000

Features

Italian Restaurant - Artisan Neapolitan Pizza and Italian Street Food

5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 1,925 ft². All fully fitted 2017. Air conditrioning. Tiled flooring, spotlights and character pendant lighting. Customer waiting area with sofa. Tables and chairs providing seating for 50 persons (can be increased to 90).

BAR with touchscreen cash register, 2 group coffee machine, grinder and knockout drawer, 2 pumps, triple door under-counter fridge, 2 single door under-counter fridges used for deserts, ice cream freezer, upright display fridge, double sink, glass washer and ice maker. CCTV (6 cameras).

Separate ladies' cloakroom (2 cubicles)
Separate gentlemen's cloakroom 1 cubicle, 1 urinal

Cloakroom / storage cupboard

KITCHEN. Stainless steel cladding, stainless steel extractor, twin basket table top fryers, 2-6 burner hobs with ovens beneath, Moretti twin deck pizza oven (single phase electric), 2 microwaves, 2 under-counter fridges with marble top and topping bins, 4 door under-counter fridge, dough mixer, double sink and drainer, dishwasher, chest freezer.

PREPARATION ROOM. Double door refrigeration unit, large stainless steel upright fridge, dough mixer, stainless steel shelving, upright display freezer

Staff changing area with toilet and sink

Dry store stockroom.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £3,250 p.w. with a gross profit of 70% approx. (30% Deliveries). Pre-covid the turnover averaged £10,000/£12,000 p.w. operating 6 evenings per week. In our opinion the business has tremendous potential.

Staff

The business is at present operated by the vendor with 1 full time staff employed and 2 weekend part time staff. We are informed the wage bill averages £500 p.w. approx.

Trading Hours

DINE IN - 2 Day week FRIDAY - SATURDAY
6 p.m. - 10 p.m.
TAKEAWAY - 4 Day week
In our opinion have potential for additional opening hours, if desired

Outside

Service path to the rear

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (from a private landlord, granted for 15 years in 2017 with reviews every 5 years (next review May 2022) at a current rent of £25,000 p.a. WE ARE ADVISED THE LANDLORD HAS NOT IMPOSED THE RENT REVIEW, HOWEVER WILL BE REVIEWED FOR A NEW BUYER.

Business Rates from April 2022 £5,000 approx. after small business relief. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2017 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £75,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 37,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote