Award Winning Restaurant
City of London
- Asking Price: £139,950 +SAV
The business generated an advised turnover of circa £337,685 as of the 2018 accounts, with a gross profit of £207,785 a net profit of £68,364 and an adjusted net profit of £94,603
The assets being sold with the business are worth in the region of £50,000 and the average stock value is in the region of £5,000.
Please quote reference B05640
- Tenure: Leasehold
- Please quote reference B05640
The brasserie is a fine Mediterranean restaurant serving superb food and a great selection of wines over lunch and dinner, with menus which include vegetarian, gluten free and dairy free options. The business is proud to have won a nationally recognised award.
We are advised the team has decades of West End experience in top restaurants, which have brought in many strong on-line reviews including 4.6/5 Google reviews, 4.9/5 Facebook reviews and 4.5/5 reviews on TripAdvisor along with a 2019 certificate of excellence. The business website is included in the sale.
The restaurant is a profitable business, however there is scope for development by considering opening for breakfast and lunch throughout the week.
Hilton Smythe highly advise early viewing to avoid disappointment.
The business is run and managed by our client, with the help of 5 members of staff.
The business opening hours:
Monday - Friday: 5pm – 10.30pm
Saturday: 12pm – 3pm & 5pm – 11pm
Sunday: 12pm – 8pm
The new owner should consider opening for breakfast and also for lunch during the week.
This outstanding Brasserie is located Greater London.
The restaurant itself occupies a corner position with external seating under a canopy and is easily identified, there is free parking close by for staff and customers alike.
The business was opened by our client in 2017 with a refurbishment cost in the region of £140,000 and occupies a double fronted corner position on a high footfall and densely populated area.
Outside there is external seating for up to 28 guests under a canopy and the entrance door takes you to the main restaurant area with seating for 60 guests on individual tables. The restaurant is fully air conditioned with a tiled flooring within the reception/bar area. The remainder of the restaurant has wooden flooring.
The bespoke bar/reception has shelving and hanging for glasses and bottles, drinks display fridge, coffee machine, glass washer and sink etc.
There is a fire exit to the side of the main restaurant area and access to the toilet area, which has separate male and female toilets, is wheelchair accessible. There is a storage area off the toilet area.
The stainless steel industrial kitchen has 6 burner stove, gridle, double fryer, convection oven, dishwasher, sinks, fridge and freezer, tiled floor, industrial extractor fan and 3m x 2m walk in chiller.
We are advised the business is being sold as a leasehold business opportunity with a 15 year lease with 5 year break clauses and rent reviews.
The annual rent is £30,000 and business rates are currently paid at £5,300 per annum.