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Authentic Licenced A3 Italian Cafe Deli In Southampton For Sale

Southampton, Hampshire, UK
Asking Price:
£69,950
Turnover:
£156,000
Net Profit:
Under £50K

Authentic licenced A3 italian café deli
Southampton city centre opposite ocean village
40 covers inside with outside tables
Sales averaging £450 per day
Busy lunchtime trade
New ten year lease

Location:

The business is situated next to the bustling ocean village in the heart of southampton’s old docks area, the area is most renowned for its maritime connection, beginning in 1842 with the laying and excavating of the first “outer dock”, now known as ocean village. In the past two centuries the local area has seen the famous departure of the ill-fated rms titanic, the production of the first supermarine spitfire, the departure stages for the beginning of the D-Day landings and now a bustling cruise hub and terminus. Ocean village provides a host of high-quality entertainment venues.

Business:

This popular authentic italian café/delicatessen was opened in 2018 by the owner of one of southampton’s most popular italian restaurants that regularly features in the top 10 on tripadvisor. Surrounded by large corporate offices it is a popular lunch time destination. Managed by the vendor’s wife, the café offers breakfast items and fresh pasta dishes feature on their daily specials board. Paninis, wraps and salads also served:

Recently the owner added a selection of freshly-made pizzas to eat in or take away:
margherita – tomato and mozzarella – £7.90
hawaiian – tomato, mozzarella, ham, pineapple – £8.90
italian sausage – tomato, mozzarella, italian sausage – £10.90
buffala – tomato, italian buffala mozzarella, basil – £10.90
siciliana – tomato, mozzarella, parma ham, rocket, parmesan – £8.90
capricciosa – tomato, mozzarella, prosciutto, artichoke, mushroom – £9.90

Popular daily specials plus freshly ground and speciality coffees. The premises are available for private hire for parties and corporate functions and can accommodate party sizes up to 30. The venue is available for hire after 5:00pm monday – saturday or during the day sunday for private events.

Hours:
Monday – Saturday 07:30 to 17:00
Sunday closed except for private hire

Business premises:
(all sizes are approximate & should be considered 'nominal'.)

The ground floor premises feature a character frontage with a glazed bay window and a porched single casement entrance leading to the customer seating area over a wood floor and the servery with overhead extraction system. Internal area measures 16ft wide x 44’ deep/4.9m x 14.4m (700sq ft/70 sq m).
To the rear of the premises is a racked dry store and refrigeration room plus separate men’s and women’s wc facilities with a rear door leading out to a single car parking space. A full inventory of equipment to be included with the sale will be available to buyers attending pre-booked inspection visits.
Note:
where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

Private accommodation:
(all sizes are approximate & should be considered 'nominal'.)

There is no private accommodation included with this opportunity

Outside:

The café is in a small parade of other retail businesses. Pay & display parking bays are available close by.

Tenure:

This is a leasehold opportunity with a 10 year lease in place which expires in september 2028. The lease is a protected lease within the terms of the landlord & tenant act 1954 and therefore renewal rights apply. The current rent payable is £12,000 per year. There is a two-year tenant-only break clause with 5-yearly rent reviews with the next review due in 2023.
Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

Rates:

The rateable value of the business premises is £10,750 and therefore zero rates are payable in 2019/20.

Note:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the voa website. The amount payable is the standard rate for the rateable value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

Services:

We understand from the vendor that all main services are connected to the property.

Trade:

The business began trading in september 2018 so there are no formal accounts available at this time. The vendor maintains management accounts that will be available for inspection at an inspection visit.

Please note that if a business is vat registered, all figures exclude vat.

Staff:

The vendor’s wife manages the deli supported by a full time chef working 40 hours per week plus one part time assistant working two days per week.

Stock:

The vendor informs us that the value of the stock is approximately £1,000

Legal fees:

Vendors and buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord’s legal costs on a 50/50 basis. If a buyer wishes to negotiate a ‘new’ lease, they will be responsible for all the landlord’s legal costs.

Comments:

The vendor and his wife have found the additional responsibility of running the deli alongside their restaurant too time consuming and are now looking for a new operator to take over and build on the solid foundations they have laid down since opening last year.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

Local authority: Southampton City Council

Internet:

First time buyers of a business may find this Government
information website Setting Up In Business helpful.
Potential buyers wishing to find out more about the surrounding areas are invited to ‘search’ under ‘’, where numerous sites are available for perusal, or specifically go to and use the post code ‘SO14’.

Property Information

Property:

Leasehold

Lease Terms:

This is a leasehold opportunity with a 10 year lease in place which expires in September 2028. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £12,000 per year. There is a two-year tenant-only break clause with 5-yearly rent reviews with the next review due in 2023.

Leasehold Rent:

£12,000 per annum

Business Operation

Reasons for selling:

The vendor and his wife have found the additional responsibility of running the deli alongside their restaurant too time consuming and are now looking for a new operator to take over and build on the solid foundations they have laid down since opening last year.

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