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Large Chinese Restaurant in Southampton

Southampton, Hampshire
Leasehold Price:
£39,950
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
241773
Reference
5513 / Rightbiz

Details

    Established Over 35 Years

    Excellent Online Google Reviews

    Projected Annual Turnover (2019/20) £80,300

    Projected Gross Profit (2019/20) £39,000

    Accounts Available Upon Viewing

    50 Seat Restaurant

    Trading With Our Vendor Since 1997

    3 Bedroom Owners Accommodation

    Free Parking

    EPC - D

Description:
REF 5513 – Chinese Restaurant with Accommodation
Blacks Business Brokers are delighted to bring to the market this leasehold Chinese restaurant with accommodation located in the much sought after area of Totton, Southampton.

INTRODUCTION
The Family House has been trading here on Commercial Road for over 35 years, with our client in ownership since 1997. In that time it has firmly established itself within the local community and with such a long and impressive trading history has a reputation second to none in this area.

LOCATION
Totton is a popular town in Hampshire. It is situated outside the eastern edge of the New Forest and on the River Test, close to the city of Southampton. Surrounding towns and villages include Ashurst, Marchwood, Cadnam and Ower. The area is well linked with the M271 and M27 along with plenty of local public transport links.

REASON FOR SALE
The business is only being offered for sale due to our clients other business and personal interests.

LEASE
The building is available on a competitive rent on a Full Repair and insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is 20 years with rent reviews every 5. The current lease began in 2008 at a cost of £184 per week.

BUILDING LAYOUT AND DESIGN
The business is housed within the ground floor of a large, double fronted retail unit. The glazed frontage includes large, bright signage and branding. Inside, the dining area is welcoming and well presented, offering 50 seats within the L-shaped layout. The space has traditional Chinese décor with beautiful wall art and a well-stocked and nicely presented bar to the rear of the area. In addition, the customer toilets, kitchen and food preparation area are positioned to the rear of the unit, with good quality fixtures, fittings and equipment in place. The business also benefits from three parking spaces directly outside and plenty of other local parking for customer use.On the first floor of the building, is a large two-bedroom accommodation, there is scope to make this into three bedrooms if required.

STAFF
The business is family run currently, with no other members of staff in employment.

FINANCIAL DETAILS
Financial details are available upon a viewing of the business and the business has traded solidly over its trading history. Projected Annual Turnover (2019/20) £80,300. Projected Gross Profit (2019/20) £39,000. Most customers are from the local area as one would expect, with some additional trade from passers by and visitors to the area.

SUMMARY
This is an ideal opportunity to acquire a well-established Chinese restaurant in a busy trading position in the centre of Totton on the outskirts of Southampton with 2/3 bedroom accommodation and very agreeable overheads. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.



Fixtures & Fittings:
Air con
Wine chiller
Beer chiller
Ice maker
Air extraction system
9 hob wok burner
6 hob gas cooker
Oven
Microwave
Hot plate
2 Rice cookers
2 Double doored stainless steel fridges
1 Upright fridge
1 Counter freezer unit


Opening Hours:
MON: 12:00 - 14:00 // 17:30 - 23:00TUE: 12:00 - 14:00 // 17:30 - 23:00WED: 12:00 - 14:00 // 17:30 - 23:00THU: 12:00 - 14:00 // 17:30 - 23:00FRI: 12:00 - 14:00 // 17:30 - 00:00SAT: 12:00 - 14:00 // 17:30 - 00:00SUN: CLOSED


Weekly Rent:
£184 Per Week. Weekly Rent:
£184 Per Week.
Seller Details
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Listing Details
Leasehold Price: £39,950
Tenure: Leasehold
Sector: Commercial Properties, Restaurants
Financials
Annual Turnover: £80,300
Energy Performance Certificate (EPC)
Location Statistics
What's nearbyi:
Hadi Cash & Carry (approx. 0.5 mile)
Western Union (approx. 0.5 mile)
Masjid Ar-Rahmah (approx. 0.6 mile)
Masjid Ar'Rahman (approx. 0.6 mile)
YMCA Newtown Pre-school (approx. 0.6 mile)
Vedic Society Hindu Temple (approx. 0.6 mile)
Kwik Fit Southampton Lodge Road (approx. 0.6 mile)
Premise Property Maintenance Ltd (approx. 0.7 mile)
Society of St James (approx. 0.7 mile)
The Elizabeth House Hotel (approx. 0.7 mile)
Listing Statistics
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