Licensed Coffee Shop in East London For Sale

Occupying a corner position, prominent trading position, residential, office and commercial area, EAST LONDON

Turnover £ 10,000
Price £320,000

Features

Licensed Coffee Shop with A3 Use

External seating for 16 persons

5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 700 ft² with conopy. Laminated strip floor, ceiling with hanging lights. Air conditioning with hot air. Tables and chairs providing seating for 60 persons. Cool display counter with refrigerated storage section, EPOS till, TV menue display, cake display counter with refrigerated storage section, 3 group coffee machine, Ben & Jerrys Freezer, 1.2m open cool display unit, 70cm open cool display unit for beers and wines.

KITCHEN. 2 deep freezers, griddle, mega flow, shelving, dishwasher

Walk-in coldroom

Toilet with w.c. and wash hand basin.

External Storage

Turnover

WE ARE INFORMED by the owner the turnover currently averages £10,000 p.w. with a gross profit of 65% approx. Accounts 2021 show sales £415,000. Gross profit £252,000. Net profit £110,000.

Staff

The business is at present operated by a husband & wife team with 3 full time & 2 part time staff.

Trading Hours

7 Day week
MONDAY - FRIDAY 7am - 5pm
SATURDAY 8am - 5pm
SUNDAY 9am - 5pm

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 10 years in 2018 with reviews every 5 years (next review 2023) at a current rent of £55,000 p.a. plus VAT. (Part of the premises currently sublet to a barbers providing a rental of £19,000 plus VAT making the present rent payable at the present time only £36,000 plus VAT)

Business Rates from April 2022 £8,500 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2012 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £320,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 160,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote