Restaurant/cafe for sale in Tangier Road, Portsmouth PO3

£39,999
Restaurant/cafe for sale
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Property description

Business
Hilton Smythe are pleased to present to the market the Wonderful Cafe, established as a cafe business over 10 years ago and transformed into the wonderful cafe by our client 2 years ago, who due to her wish to start a family is now selling.

The cafe has been transformed by our client who has replaced most of the kitchen equipment, decorated throughout and added a new barista coffee machine.

The cafe is enjoying a growing turnover with 2018-2019 looking to achieve an increase of 13% and a net profit ratio of 33%.

The cafe is both a local hub for locals and their families as well as attracting many local tradesmen and builders who love their excellent breakfast menu.

The secluded outside rear terrace is very popular in the summer and offers further development opportunity with a large outbuilding ideal for private parties/ birthdays.

The menu includes breakfasts, freshly made sandwiches and toasties, salads, homemade specials, cakes, light bites, jacket potatoes, smoothies and milkshakes as well as outside catering menu for special events, fresh coffees, hot chocolate, cold drinks and kids’ menu.

The cafe is both children friendly and dog friendly.

Currently 80% of the Turnover comes from Eat in Customers and 20% from Takeaway.

There is an excellent Facebook page and Instagram page included.

We are advised the cafe is particularly busy in the morning breakfast period.

Any new buyer may look to investigate the following areas to further increase the current Turnover -


  • Extend the current opening hours

  • Increase outside catering

  • Add local deliveries through any of the delivery partners such as Just Eat

  • Increase private hire for both children’s parties and family celebrations

  • Add an evening ‘pop up’ bistro styled menu



Location
Wonderland Cafe occupies an enviable trading position along a busy parade of shops on Tangier Road, Portsmouth.

The parade offers both independent butchers, School wear and furniture shops as well-known supermarket brands as the Co Op which includes the local post office.

This is a traditional residential area on the outskirts of Portsmouth City Centre.

Portsmouth is a ‘port city’ and naval base in the south coast, mostly spread across the Portsea island. It is known for its maritime heritage and historic Dockyard.

The business is 2 minutes’ walk up from Baffins Park and Pond.

There is a main bus stop directly outside as well as free on street parking.

Premises
Front pavement area - 4 covers

Ground floor -

24 covers with solid wood chairs and tables

New wall mounted menu board and fixed counter

Attractive oak laminate flooring and bright colour scheme

New coffee machine and grinder (leased)

Side preparation area - includes a wall mounted hot water boiler for hot drinks, small office area, till and card machine, milkshake blender, under counter freezer, tell upright fridge.

Main kitchen - hand wash sinks, large prep sink, 2 x new electric fryers, new griddle, 6 x ring gas oven, 2 x extraction units, hot cupboard, 2 x toasters, Buffalo 3 x pan Bain Marie, 2 x stainless steel prep tables, microwave, tall upright fridge (new).

Customer toilet - with baby changing facilities.

Rear storeroom - additional storage area with further office space, storage racking, upright freezer, chest freeze with access into the rear terrace area.

Side hallway - leads into the paved rear terrace garden which includes a further 16 coverswhich can be increased) and attractive pots and plants. There is a brick-built storage shed at the end of the terrace which could be further developed.

Tenure
We are advised the business is being sold as a Leasehold with 8 years remaining on a 10-year renewable lease paying an annual rent of just £8,600. The business benefits from full small business relief paying 0 rates in the current year.

Hours

Monday - Closed



Tuesday to Friday
- 8am to 3pm



Saturday
- 8-4pm



Sunday
- 9-3pm



Staff
The business is run and managed by our client with the help of 2 x part time staff members (1 of which is self-employed).

Financial Profile
The business will report a turnover of £70,000, gross profit of £49,000, in 2018-2019 with an adjusted net profit in the region of £25,000.

Arrange Viewing

For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

Contact Hilton Smythe Commercial about this property

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial 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.

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