Restaurant in prime position for sale, leasehold with flexible renewal terms

Southampton, Hampshire

Status

FOR SALE

Date Submitted:

01/08/18

Advert ID

224958
Leasehold: £17,000
Annual Turnover: N/A
Annual Net Profit: N/A

We are pleased to announce our business is available for sale. It is located on the high street in a corner position with great visibility and client potential. We bought it as a Thai restaurant and renovated it into a Burger Bar with an original approach towards clientele. It is currently on leasehold at £1250 p/m, but the landlord is flexible in creating a new agreement with the new tenant at the same price which was only increased once in the last five years. The restaurant has a large dining area, bar, kitchen and two side rooms as well as a toilet. One small side room was previously a toilet so it can be easily reverted to that state at minimal cost. There is also a possibility of expanding onto a downstairs area as there were previously stairs and there is no need for planning permissions. The dining area has brand new flooring which we have put in as well as it was repainted and a wall paper put on one side. There are approximately eight tables and sofa chairs as well as normal chairs to go with the tables. We have further installed a window table with bar stools to give the place that American vibe. The bar area has storage space underneath the bar and above it with room to install a variety of modifications as per the desired effect. We have also installed a mirror behind which give an enlarging effect to the restaurant and spreads the light. The lighting is also new and freshly installed along with wall lamps.

The kitchen area consists of a large double sink with drying racks and commercial metal shelving above, across from it is the grill area consisting of a new gas griddle (natural gas), double fryer and a commercial gas stove with oven. We also have a brand new planetary mixer which is ground-bound. On the left of that are commercial metal shelves used as a prep area with refrigerated vegetable storage and a fridge as one unit. In the small side room behind the kitchen we have two brand new Polar commercial fridges and two chestnut freezers (these aren'T particularly new but in good working order), the side room is also an emergency exit with a door leading to the side of the restaurant where there are a bin area and small space for temporary rubbish or items waiting to be removed.

The bar area also has two drinks fridges, one being an upright corner fridge for beers and bottled drinks and 2nd is an under counter fridge for cans and smaller drinks. There is also an ice machine under the counter.

All the above-mentioned equipment is in working order with no signs of breaking. Items such as polar fridges, griddle and mixer are still under warranty. This is true for all items except the chestnut freezers and fridges in the bar area (they are fully working but do show signs of wear and tear due to their age).

The toilet consists of a cubicle with a lock and door as well as a wash basin area with an electric dryer. The restaurant area also has three heaters/ air conditioners which are remote operated and in working order. There is also a private parking area on the pavement in front of the restaurant, and it can be utilised for outside seating etc.

The premises have a valid alcohol license and CCTV monitoring, so there is only a requirement for a personal license.

We have been trading for over a year, and we have decided that our business agenda is more suited as a take-away rather than a restaurant. We are therefore looking to sell or swap for a smaller take-away also located in a populated area.

Shirley is your typical high street with plenty of people at all hours of the day. There is a bus stop across from the restaurant, and during the day there are over 400 buses that drive past. The restaurant has a large wall space outside which is used to place a very large wall poster with very high visibility aspect.

If you have a good restaurant plan and are successful in taking advantage of the high street vibe, then this is a perfect opportunity!

You will not lack in potential customers and marketing possibilities also taking into account that Shirley road is one of the main streets connecting large residential areas with City Center. Just within metres from the restaurant, there is Mc Donalds, Lidl, KFC and Wetherspoons which share an enormous following and popularity hence the business is very much in the spotlight.

We are currently asking for £32000 which includes everything described and other smaller equipment not mentioned as well as glassware, cutlery and plates. There are no extra fees or any hidden charges, simple sale only once the new buyer has completed all necessary paperwork and admin with the landlord.

Listing Details
Key Features
  • Fully Fitted
  • Split Level Trading Area
  • Close to Local Amenities
  • Attractive Business
  • Small Business
  • Price Further Reduced
  • Offers Invited
  • Prime Location
  • Adjacent to Multiple Retailers
  • New Lease
  • Potential for Alternative Use
  • Price Reduced
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