Restaurant/cafe for sale in Somers Road, Southsea PO5

£29,995
Restaurant/cafe for sale
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Property description

Business
Hilton Smythe are delighted to present to the market El Baraka, a much-loved community grocery store specialising in Halal meat and groceries. The business first opened its door in 2018 and due to the number of customers living in the area looking for good quality halal products, has become an instant success.

The business is now been offered for sale due to other business interests of 1 of our clients who is unable to work in the business full time. We believe with some minor improvements the business should easily be able to achieve weekly sales in excess of £4,000.

The business currently offers a wide range of -


  • Halal meats

  • Worldwide groceries, sauces and spices

  • Frozen fish, meats and vegetables

  • Fresh vegetables, breads and dairy products

  • Confectionery, desserts and snacks

  • Cold drinks


Our clients inform us the business is currently butchers led and reputation is growing within the local community for the high quality and range of meats they offer.

Any new owner could further grow the business by -


  • Extending the current retail space

  • Extending the current butchers counter

  • Supplying local Halal focused restaurants

  • Offer local deliveries


Our clients have invested over £35,000 in establishing the business, all equipment will be handed over to any new buyer.

Location
El Baraka occupies a highly enviable central trading position along Somers Road in Southsea, Portsmouth.

The business sits along a parade of independent community shops catering for the very large community occupying this part of Portsmouth.

Southsea is a seaside resort located to the South of Portsmouth City Centre and to the East of Old Portsmouth. There 2 mainline stations within 10 min sites walk from the store - Portsmouth & Southsea and Fratton.

The area is accessed just off the A2030 which connect visitors to the A2 and then A27 cross country motorway which links Southampton in the West to Brighton in the East.

The business benefits from free parking directly outside.

Premises
Ground floor - CCTV throughout

Service counter -


  • New till, card machine and electronic scales

  • 2 x central goodlier display units, fixed wall shelving to both the left and right walls

  • 2 x new open display chillers

  • 2 x large glass topped freezers, rear open chiller

  • Hand wash sink and further shelving


Butchers space - walk in cold room, large glass topped freezer, 2 x butchers blocks, meat cutter, meat mincer, double stainless-steel prep sinks.

Staff changing and toilet facilities.

Cellar - Accessed under butcher’s area and includes full length space under complete shop for storage.

The premises are circa 84sqm.

Tenure
We are advised the business is being sold as a Leasehold with 6 years remaining on a 7 Year renewable lease paying just £10,200 per year. The business benefits from full small business relief paying 0 rates in the current year.

Hours
The business operates 7 days a week - opening from 8am til 7pm daily.

Staff
The business is run and managed by our clients with 1 other member of staff.

Financial Profile
The business generates a weekly average of £3,000 per week, the annual accounts are currently being prepared by the client’s accountant and a yearly target of £150,000 is being scheduled. Current stock levels are in the area of £8,000. The business operates in a 23% average Gross profit level and is circa £34,500.

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

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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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