Leasehold Portuguese Restaurant & Tapas Bar with Late License in Nine Elms, London for Sale
Undisclosed, London
- Status
FOR SALE
- Advert ID
629761
- Reference
C1210 / Rightbiz
- Call Agent:
- Leasehold: £210,000
- Turnover: Not Applicable
- Profit: Not Applicable
Key Features
- Close to Local Amenities
- Potential for Alternative Use
- Accounts Available
- Established Business
Business Details
LEASEHOLD LIC. PORTUGUESE RESTAURANT & TAPAS BAR
LOCATIONThis well presented concern fronts a busy main road in the centre of the Little Portugal sector close to Vauxhall station, the Oval cricket ground and Nine Elms market. The surrounding area has been undergoing a major rejuvenation over the past few years with the construction several new high end residential towers along with the Battersea Power Station project which is a short walk away. A large new hotel is also planned to open nearby.
BUSINESS
This very well presented concern was originally established by the vendors family back in 1985 and was bought back by them some 6 years ago. Since then they have have developed a good reputation for good traditional Portuguese food and service. A new hotel is opening nearby which should help increase trade with further potential to extend opening hours if desired as the premises are licensed for longer hours than those currently being operated with a 2am license held for Friday and Saturday evenings.
TURNOVER
The business has accounts to show a turnover of £360,000 per annum. @ 55% GP.
(£7,000 pwk of which approx £1,500 is by delivery through Just Eat and Uber Eats.
STAFF
The vendor plus 4 full time staff plus 1 part time.
HOURS
10.00am - 12.00am Mon to Sun
Note: The premises are licensed to open from 7.00am - 12.30am Sun to Thurs and 7.00am - 2.00am Fri & Sat
PREMISES
Occupying a double fronted unit in a central parade position of an attractive Victorian building with parking to front and seating for 12 covers. Restaurant area: divided in to two areas with tiled flooring and new tables and chairs to seat some 46 covers. 2 wall hung flat screen TV's. 2 amusement machines. Wine display chiller. Bar/servery to rear with chilled glass display. Coffee machine (on loan), drink shelving to rear, epos till system, cash register, 2 glass fronted drink chillers, dishwasher, sink. Stairs to lower ground floor: Two customer WC's. Hand wash basin. Kitchen: Fully tiled. 6 burner hob/oven, large gas griddle, St/stl extractor system, new double fryer, 2 st/stl prep tables, Large dble st/stl sink, washing machine, toaster, quad st/stl fridge, 3 st/stl freezers. Store Room: 2 fridges, 2 large st/stl double door fridges, ice machine, st/stl prep table. Walk in Cold Room. Shelving. Small office Area with computer and CCTV monitors. safe. Sep small drinks store/former WC.
TENURE
Approx 16 years remaining on a 21 year lease. Rent £30,000 per annum. (5 year reviews)
EPC RATING
TBA
BUSINESS RATES
£5,350 per annum. (Payable)
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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