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High Turnover Mediterranean Restaurant & Bar In Southampton For Sale

Southampton, Hampshire, UK
Asking Price:
£195,000 Furniture / Fixtures included
Turnover:
£1,000,000
Net Profit:
Available on request

Mediterranean restaurant & bar (full-on lic), with luxury s/c 2 bed family flat, prominent posn, city centre, Southampton. Character Grade II Listed Bldg. Estab 25 yrs. Fitted out in an authentic Mediterranean style. Well equipped bar with adj. 40 cover restaurant & first flr mezzanine seats 40. Terrace seating for 28. Catering kitchen. Desirable 2 dble bed S/C flat with views. Current Average Gross Takings £25,000 pw. Overall GP 68%. Accounts available. 16 year lease from Dec 2017 at current rental of £52,000 p.a.x. - £195,000 + S.A.V. (Ref. C.3825)

Property Information

Property:

Leasehold

Lease Terms:

The premises are held on a lease for a term of 16 years which commenced on 1st December 2017. There are 4 yearly reviews, the current rental amounting to £52,000 per annum, exclusive of rates.

Leasehold Rent:

£52,000 per annum

Living Accommodation:

• Stairs from ground floor entrance hall give access to the desirable owners luxury, self-contained, first floor flat
• The flat comprises: a large, triple aspect lounge with open plan kitchen area, a double bedroom with secondary double glazed windows and an en suite bath, toilet, wash hand basin and shower cubicle, above which a useful office area has been created; a further large double bedroom and a shower room with toilet and wash hand basin
• On the second floor there is a large, 3 section, attic storeroom, a staff changing room and a toilet with wash hand basin

Location:

Located amidst a conservation area in Southampton city centre.

Premises Details:

• Set back from the road with a south facing pavement that has space to seat for 28 people (subject to licence)
• The restaurant and bar comprise: on the ground floor – twin half glazed wooden entrance doors to initial bar area that has a tiled floor covering and dark wooden, stainless steel topped, servery and wooden bar stools
• The servery is well equipped to include: an epos till system, an espresso coffee machine (subject to a lease/purchase agreement)), under counter display fridges and mirror-back bar shelving
• Adjoining raised dining area is most attractively decorated in a typical Mediterranean style, with dark stained wood plank floor, dark wooden tables and chairs and 3 tall arched double glazed windows. 10 tables accommodate approximately 40 covers
• Stairs on either side of the restaurant give access to a first floor mezzanine, which offers gallery seating having 15 tables accommodating a 40 covers
• Well-equipped catering kitchen, situated on the ground floor to the rear of the bar servery, and includes an 8-burner gas cooker, a 4-door stainless steel counter fridge, a microwave oven, a dishwasher and stainless steel extraction system etc
• Adjoining wash-up area, a store with freezer and door to bin area and 4 space car park
• Additional twin entrance doors at the front of the building give access to a hallway, preparation area and beer cellar with a fridge and a freezer
• Ladies’/Disabled toilets are situated on the ground floor and gent’s on the first floor mezzanine

Business Operation

Trading hours:

• Open for lunch from 12.00 pm until 2.30 pm Wednesday to Friday and in the evening from 5.00 pm to 10.30 pm Monday to Friday, opening from 12.00 pm to 11.00 pm on Saturday and between 12.00 pm to 10.00 pm on Sunday.
• NB We understand that the bar has a full on-licence and can serve alcohol between 10.00 am and midnight, 6 days a week and on Sunday from noon to 11.30 pm

Employees:
8 full-time and 6 part-time staff
Years established:
25

Other Information

Relocatable:
This business can be relocated.

Contact Andrew Greenwood

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