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Leasehold Lic. Portuguese Restaurant In London For Sale

London, UK
Asking Price:
£210,000
Turnover:
Undisclosed
Net Profit:
Undisclosed

ADVERT TEXT
LEASEHOLD LIC. PORTUGUESE RESTAURANT & TAPAS BAR

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 pa @ 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.

TENURE
Approx 16 years remaining on a 21 year lease. Rent £30,000 pa (5 year reviews)

EPC RATING
TBA

BUSINESS RATES
£5,350 pa (Payable)

Property Information

Property:

Leasehold

Location:

This 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.

Premises Details:

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.

Business Operation

Trading 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

Contact Broker
Member ? This broker is part of BrokerCode, a BusinessesForSale.com initiative recognising brokers who commit to integrity, transparency, and professional standards.

This broker is part of BrokerCode, a BusinessesForSale.com initiative recognising brokers who commit to integrity, transparency, and professional standards.