Italian Cafe and Restaurant for Sale in Borough High Street London with 32 Covers and Five-Star Hygiene
Undisclosed, London
- Status
FOR SALE
- Advert ID
656290
- Reference
RPS-23202 / Rightbiz
- Call Agent:
- Leasehold: £199,000 (Stock at valuation)
- Rent: £25,000 (£2,083 per month)
- Turnover: £364,000 (£7,000 per week)
- Profit: Not Applicable
Business Details
Italian Cafe & Restaurant for Sale in Borough High Street
Italian Cafe & Restaurant for Sale in Borough High Street
Property ID: RPS-23202
PROOF OF FUNDS REQUIRED: All interested buyers must be able to provide proof of funds before requesting viewing.
MAIN DETAILS
- Established Italian Cafe & Restaurant for Sale
- Trading since 14 years
- Close to Borough station & several offices and hotels around
- Circa 32 covers with some outdoor seating
- Benefits from gas, extraction and premises licence
- Five star hygiene rating
LANDLORD’S REQUIREMENTS
- Guarantor required (subject to references)
- 6 month’s rent deposit required (subject to references)
- Other usual checks will be carried out
LEASE DETAILS
- Lease: Option of 10 years new lease
- Will be granted Outside the Act of 1954
- Current Rent: £25,000 per annum VAT
- Rent review: Every 5 years
- Premium: £199,000 (Business, lease & fixtures and fittings)
THE PREMISES
- Circa 32 covers with some outdoor seating
- Large separate storage at the rear
- Gas, extraction and premises licence in place
- Rateable Value: 17,250
- Payable Rates: Circa £6,589.5/annum (please confirm with local council)
THE BUSINESS
- We have been informed that the business currently generates gross revenue of circa £6,000 to £7,000/week
- Our client manages the restaurant with 2 full time & 2 part time staff members
- Trading since 14 years
THE LOCATION
- Borough High Street, London, SE1
- Few minutes from Borough Station
- Prime location on Borough High Street, one of London's oldest and most characterful connecting hub
- Nearby Borough Market, attracting significant daily tourist and office foot traffic
VIEWINGS & CONFIDENTIALITY
All interested buyers must have proof of funds to meet the premium and landlord’s requirements.
All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client.
Strictly through Restaurant Property Sellers only. By using our website, you agree with our Terms & Conditions.
DISCLAIMER
The above information is provided by the seller and are issued without responsibility on the part of the firm therefore are not to be relied upon as statements of facts. Any intending purchaser must satisfy themselves as to the correctness of each statement. The firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property.
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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.
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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.
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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.'.
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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.
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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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Stay Safe
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.
Stay Safe
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.
Stay Safe
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.
Be safe, use a Rightbiz Solicitor
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