Multi Award Winning American Diner in South London For Sale

Situated in a parade, excellent main road trading position, SW LONDON

Price £149,000

Features

Multi Award Winning Gourmet Burgers, Brisket, Ribs & Steak Restaurant ~recently Closed Due To Bereavement

5 STAR HYGIENE RATING (for over 10 years)

DOUBLE FRONTED commanding corner PREMISES in the region of 1030 ft². CCTV (4 cameras). Air conditioning. Real wood flooring, plasterboard ceiling with spotlights and feature pendants. Tables and chairs providing seating for 45 persons. Sales counter, electric cash register, under counter drinks fridge, ice cream machine, soft drink dispenser.

Unisex cloakroom with disabled access with toilet and sink

KITCHEN. Lino flooring and tube lighting. Stainless steel extractor, Rational steam oven, Keating flat grill, charcoal grill, double basket deep fryer, double drawer fridge, 2 under-counter fridges, double door fridge, condiment fridge, Alto-Shaam heated drawers, hot cabinet, heat lamp stand, upright fridge, microwave, food processor, dishwasher, double sink and drainer, stainless steel preparation surfaces.

Turnover

WE ARE INFORMED by the owner the turnover when trading averaged £7,500 p.w. with a gross profit of 65% approx. (25% TAKEAWAY). The vendor has recently incorporated 3 further brands for production on site and anticipated to increase sales by £2,000 p.w.

In our opinion having yet further terrific potential to increase, especially with the introduction of alcohol, subject to obtaining the necessary premises and personal licence.

Trading Hours

Were 7 Day week
SUNDAY - THURSDAY - 12 noon - 10 p.m
FRIDAY & SATURDAY 12 noon - 11 p.m

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 2020 with reviews every 5 years (next review 2025) at a current rent of £30,000 p.a. We understand the landlord is prepared to grant a longer lease, if desired.

We are advised there is an adjoing unit available from the same Landlord should a larger premises be desired. By extending the restaurant into the back unit will make it 85-90 seater restaurant.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2020 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £149,000.
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 74,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote