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Busy Sandwich Bar & Cafe

City of London, London
Leasehold Price:
£110,000
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Status
FOR SALE
Advert ID
238844
Reference
B05063 / Rightbiz

Details

Business
Hilton Smythe are delighted to offer to the market one of Hoxton’s much loved cafe and sandwich bar businesses, established in the area in 2006 and purchased by our client in 2014.

Our client invested over £130,000 into the business including a recent £50,000 refurbishment of the entire cafe which included new equipment and extraction facilities.

Our client is reluctantly selling due to ill health and therefore looking for the right buyer to proceed quickly.

The business concentrates on the morning and lunchtime trade only, there is no deliveries at present however our client is about to add Just Eat, Deliveroo and Uber orders which following the trend of similar businesses in the area should easily add a further 40% to weekly turnover levels.

Any new owner who simply extends the current opening hours could also benefit from a very quick increase of 20% to current turnover levels, making this opportunity very desirable.

The café attracts staff from the hospital, teachers from the primary school and local business people including regulars.



Currently our vendor offers both a traditional English menu of breakfasts, chicken and meat wraps, sandwiches, panini’s, omelettes, fish dishes, jacket potatoes, daily specials such as lasagne, cold drinks and bean to cup coffees as well as traditional Turkish meals, pastries and desserts.

Any new owner could continue with the menu in place or choose to add their own style of menu including adding an alcohol licence to boost drink sales.

A full business handover will be offered.



Location
Anjelique Sandwich Bar and Cafe is located on Hoxton Street, Hoxton, in London.

The busy street is renowned for its busy street market, large choice of independent retailers, cafes and restaurants.

The area is enjoying several new housing projects and developments which will further increase the footfall to the area.

The business benefits from being directly across from both Hoxton Garden Primary School, St.Anne's church, Hospital, Shoreditch Park and only 5 minutes’ walk from the new Hoxton over ground station.

Hoxton is a vibrant East End district, popular with the hipsters and creative types who favour the array of Victorian warehouses, now converted into flats, galleries, cool eateries and fashion stores.

Hoxton Square is the true heart of the area including the thriving street market.

The business offers pay and display customer parking directly outside the cafe.



Premises
A full £50,000 refit included new shop front and signage, full electrical require new boiler, new fridges, extraction unit, coffee machine, new sound system and a new soundproofed ceiling as well as the new rear extension which allowed the small rear yard space to be included into the internal part of the cafe.

Ground Floor - up to 30 covers arranged with single and double tables and solid wood chairs.

Customer toilet 

New Extension/Service Area - glass fronted display chiller, heated display unit, glass fronted drinks chiller, panini grill, 2 x arm semi-automated coffee machine and grinder, toaster, 3 x microwaves, till, prep sink, undercounter storage fridge. New gas boiler.

Lower Ground Floor - large refitted kitchen which includes double stainless steel prep sinks, hand wash sink, new extraction filter unit, L shaped prep unit with storage, 7 x Clara cctv monitoring unit, 2 x fan ovens, 3 upright freezers, 2 x upright fridges.

Storeroom - Dry store shelving, new electric board



Tenure
We are advised the business will be sold as a Leasehold with a 20 year lease currently in place with 9 years still remaining paying just £13,500 per year.

0 rates payable.



Hours
Run to suit owner’s health currently

Monday to Saturday - 7am - 5pm

Potential to open till 12 midnight and add a evening Bistro or Restaurant menu.



Staff
The business is run and managed by our client with 2 x part time members of staff

Financial Profile
The 2018 Turnover will show in the region of £160,000 operating only 50% of the available opening times. Adjusted net profit will be in the region of £35,000.



Seller Details
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Listing Details
Leasehold Price: £110,000
Tenure: Leasehold
Sector: Cafes
Financials
Annual Turnover: £160,000
Location Statistics
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