STUNNING 2,000 SQ.FT STEAKHOUSE RESTAURANT + THREE LARGE FLATS – FOR SALE – SOUTHAMPTON
SUB LET INCOME FROM FLATS OVER £50,000 PER ANNUM FULLY STAFF RUN GENERATING £18,000 PER WEEK NET PROFIT CIRCA £120,000 PER ANNUM IDEAL EVENTS VENUE WITH HUGE SCOPE TO OPEN BREAKFAST & LUNCH
SOUTHAMPTON – BUSY HIGH STREET CLOSE TO STATION – £399,995 LEASEHOLD + SAV
REF PSC1017
- TURNOVER - £18,000 per week
- FULLY STAFF RUN – No involvement from seller
- FULL A3, A5 & ALCOHOL LICENCE – 2300
- NET PRFOIT - £120,000 PER ANNUM
- ILL HEALTH SALE – Forced sale, must be sold
- £50,000 PER ANNUM SUBLET INCOME – Two levels of flats above generating from renting all rooms, pays the rent + some left over
- THREE LARGE FLATS: 2 x Two Bedroom Flat & 1 x 4 Bedroom Flat
- IMMACULATELY FITTED & EQUIPPED – Must be viewed
- 2,000 SQ.FT PREMISES
- OVER 100 INTERNAL COVERS & FULLY FITTED BAR
- ONLY TRADING 6 DAYS A WEEK – Huge scope for Breakfast and & Lunch
- PRICE: £399,995 Leasehold + SAV
LOCATION – SOUTHAMPTON
Located on a busy high street close to the station, this impressive double fronted corner unit benefits from exceptional visibility, footfall and accessibility. Dense residential and student population nearby ensures strong, consistent demand.
THE BUSINESS
A beautifully refurbished Steakhouse, Bar & Events Venue trading over three years with an excellent reputation and strong social media presence. The vendor has spared no expense on the refurbishment, creating a stunning interior with multiple dining zones, a fully fitted bar and extended decked dining area.
The business is entirely staff run. The vendor has not attended for over two months, yet the restaurant continues to trade strongly, demonstrating operational stability and hands off viability.
Turnover is produced solely from evening trade over six days, leaving significant scope to introduce breakfast, brunch, lunch, private hire, corporate events and daytime trade.
RATES
To be confirmed.
TURNOVER
Turnover £16,000–£18,000 per week, yielding a net profit of £120,00 per annum, fully staff run. Clear uplift potential for an owner operator to reduce staffing costs and expand trading hours.
TRADING HOURS
- Monday: 17:00 – 22:00
- Tuesday: Closed
- Wednesday: 17:00 – 22:00
- Thursday: 17:00 – 22:00
- Friday: 12:00 – 00:00
- Saturday: 12:00 – 00:00
- Sunday: 12:00 – 22:00
Huge scope to open breakfast, brunch, lunch and events.
LEASE
Long 20 year lease with 17 years remaining. Annual rent £49,500, fully offset by residential income. This includes the two separate flats above sublet break down
REASON FOR SALE
A family member is seriously ill and the vendor needs to concentrate on other businesses.
THE PREMISES
Approx. 2,000 sq.ft across two combined units, arranged over three floors.
Ground Floor – Restaurant & Bar
- Fully refurbished throughout
- Multiple dining zones
- Fully fitted bar
- Extended decked dining area
- High street corner frontage
- Full A3, A5 and alcohol licence until 23:30
Upper Floors – Residential Accommodation
Flat One: 4 bed student let:
- 3 doubles @ £550 PCM
- 1 single @ £490 PCM
Flat Two – Large 2/3 bed
Flat Three – Large 2/3 bed
Combined Airbnb:
• Generates £2,000–£2,200 PCM
Total sub let income approx. £52,000 per annum, fully offsetting the commercial rent.
STAFF
- Kitchen: Chef, Sous Chef, Porter
- Management: Manager + Assistant Manager
- Front of House: 3
- Bar: 1
- Weekly staff costs approx. £5,000–£6,000
- Vendor reports net profit circa £120,000 per annum, even with over staffing to allow hands off operation.
LEGAL FEES
Each party to bear their own legal costs.
PRICE
£399,995 Leasehold + SAV
OPPORTUNITY SUMMARY
A rare opportunity to acquire a stunning, fully refurbished Steakhouse, Bar & Events Venue with exceptional residential income that offsets the entire rent. With strong NET weekly turnover, full staff operation and huge scope to expand trading hours, this is an ideal acquisition for an owner operator seeking a high margin, low risk business in a prime Southampton location.
PPS Private Sellers Club:
Please note, this business is advertised privately by the seller via PPS.
PPS will forward your enquiry and details to the seller, who shall remain responsible for contacting you about their business sale.
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