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Price is Negotiable - quick sale. Good Lease Price. Popular bistro/café with strong lunchtime trade. A3 License.
Weekly takings c. £3,000 to £4,000 with limited trading hours
Excellent location situated in a sought after area of South London
Presented in good condition over two floors, viewing recommended
Reference - 46490
Description Simply Moroccan is a bistro/cafe located in a popular South East London location close to the Borough Market, among residential and commercial developments. The business has an excellent trading position from within a multi storey property, with office space above and approx.150 yards from Borough underground train station.
The area in general is busy throughout the day with many office workers from the neighboring businesses, plus those working at the police station and immigration office almost directly opposite. There is also a vast degree of regeneration going on within the area, therefore there are many site workers who are working on the new commercial and residential developments close by.
The business was originally established by our client in 2016 and provides a well renowned take away and eat in operation with approx. 40 internal covers, arranged over the ground and basement floors. The business is presented in excellent condition due to the total refurbishment prior to the business opening. The unit has been fitted to a high standard and includes good quality fixtures and fittings throughout, along with a bespoke glass fronted chiller cabinet.
Since being established, our client has built a loyal customer base with the majority of the weekly takings coming from lunch time trade. Although the vast majority of income is generated from those taking away rather than eating in, in our opinion additional income could be generated by providing a catering service to many offices close by.
Sales We have been advised that the average takings are in the region of £3,000 to £4,000 per week.
Accounts Current records and accounts can be inspected after a viewing by genuinely interested parties.
Trading Hours Monday – Friday 08:00 to 16:00
Saturday and Sunday Closed through choice, there is plenty of business opportnity to pen for longer hours.
Staff Currently run by two members of staff, with input from the vendor.
Building External The business is situated in prime postion for it's excellent turnover due to offices above the premises in the multi-storey building and being so close to Borough Market and Underground Station.
The Cafe covers the ground floor and the basement which is used by its customers daily.
Building Internal The main ground floor seating area is open plan in design, which provides a welcoming feel when entering from the street. The restaurant has been tastefully decorated throughout with a Moroccan feel by the current owners, providing a pleasant seating area for those wishing to eat in.
There are approx. 12 covers on the ground floor, along with additional seating outside. The basement is used on a regular basis and has around 30 covers and could be used for private functions.
The commercial kitchen is in the basement and whilst compact, it is well fitted and benefits from a number of stainless work tops with storage facilities under. All of the kitchen equipment has been well maintained and is included within the sale price.
Residential Accommodation There is no residential accommodation for owners or management available.
Tenure We are advised that the current lease expires in 2023. The annual rent is £17,000 exclusive (correct as advised on 05.07.18). Rent reviews are at 5 yearly intervals. In addition to the rent is a £350 per month service charge which includes Gas, Water and Electric. Business Rates are £5000 per year.
We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.
Summary This is a superb opportunity to purchase a bistro/café in a highly sought after South London location, benefitting from a regular and loyal customer base, which is constantly growing.
An inspection is highly recommended to fully appreciate the superb location and overall business opportunity on offer. The business would ideally suit a buyer looking for a lifestyle change or an existing operator who can expand upon the reputation gained under the current ownership.
For more information about this property, please contact Kings Business Transfer, PR2 on +44 1772 913303 * (local rate)
Contact Kings Business Transfer about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Kings Business Transfer, and do not constitute property particulars. Please contact Kings Business Transfer for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.