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Busy Cafe Restaurant Providing Bulgarian Cuisine

City of London, London
Leasehold Price:
£95,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
236233
Reference
B04911 / Rightbiz

Details

Business
Hilton Smythe welcomes Cafe Restaurant Varna to the market.

Cafe Restaurant Varna has been trading since 2018 and provides a Bulgarian cuisine and benefits from having an alcohol license.

They currently operate an eat-in or takeaway service with 90% takeaway and 10% eat-in with a cover of 16 to the front area of the restaurant and 20 to the rear of the restaurant.

This busy restaurant is popular with the local residents and due to recommendations, Cafe Restaurant Varna hasn’t needed to advertise.

The current owner has fully refurbished the premises with new wiring, boiler system and flooring.

The business also comes with the added benefit of a 2-bed duplex apartment

This business is now being sold due to the owner’s family commitments and having to relocate.

Potential:

•Use online discount sites such as Groupon and Wowcher
•Delivery service
•Use delivery sites such as Deliveroo, UberEATS and Just Eat
•Hire out room for parties
•Introduce halal food
•Serve full English breakfasts

Hilton Smythe recommends early viewing to avoid disappointment.

Location
Cafe Restaurant Varna is located along Kingsman Parade, Woolwich, London. It is situated amongst a parade of other complementary businesses such as a newsagent, pharmacy and off license.

Woolwich is a district of south-east London, within the Royal Borough of Greenwich. The town is a river crossing point, with the Woolwich Ferry and the Woolwich foot tunnel crossing to North Woolwich in the London Docklands.

Distance from Cafe Restaurant Varna:

Woolwich Ferry: 7-minute walk
Woolwich Foot tunnel: 11-minute walk
Woolwich Dockyard Train Station: 4-minute walk

Premises
The premises is along a parade of shops within a built-up residential area, situated on the corner with clear visible signage.

As you enter the premises you are greeted with seating for 16 along with a large bain-marie counter and kitchen area.

A walkway takes you passed the customer toilets and through to the main restaurant area which has seating for 20, to the rear of the restaurant is a well-equipped kitchen and to the right of the restaurant is a doorway to a large storage area which includes a shower.

Apartment:

•2 Double bedrooms
•Lounge
•Bathroom
•Kitchen

The current owner has advised there are 2 parking spaces which are included with the lease

Equipment:

•Domestic fridge
•Domestic freezer
•Coffee machine
•Till system
•Microwave
•Bain-Marie counter
•Air-conditioning
•CCTV
•Alarm system
•6 burner cookers
•Double fryer
•Turbo oven
•Double stainless-steel freezer
•Single stainless-steel fridge x 2
•70 kg mixer
•Dishwasher
•Chest freezer
•Display rotisserie
•Display drinks chiller

Tenure
We have been advised that this business is a Leasehold opportunity, with 10 years remaining from the original 12 years.

Rent £20,000 per annum
Rates £2,530 per annum

Hours
Monday - Thursday 7.00 am – 10.00 pm
Friday - Saturday 7.00 am - Midnight
Sunday Closed

Staff
The current owners run and manage the restaurant.

Financial Profile
We have been advised the business will generate a turnover of £94,800 with gross profit of £76,600 and net profit of £47,100

Assets: £40,000
SAV: £6,000



£95,000
Listing Details
Leasehold Price: £95,000
Tenure: Leasehold
Sector: Cafes
Financials
Annual Turnover: £94,800
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