Restaurant/cafe for sale in Streatham, London SW16

£299,950
Restaurant/cafe for sale
Interested in this property? Call +44 1772 913303 * or Request Details

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Property features

  • Ideally located close to busy rail stations.
  • Combined Turnover of £318,000
  • Two superbly presented premises with modern decor & outside seating
  • Very reputable with 133 Google reviews and a 4.8-star rating

Property description

Reference - 47938

Description
The Coffee Bars are in Streatham in South London one close to Streatham Common Station and the second near Streatham Hill Station. The first has 20 covers internally, 12 outside the front of the shop and 8 to the rear courtyard, the second has 11 internally and 2 externally.

The two sites currently generate an average weekly income of £11,000 per week and has experienced an increase in sales during Covid-19. There is potential to apply for an A3 license for the larger unit to facilitate an evening menu. An owner operator could also save on wages.

Both sites are superbly presented and offer an excellent business opportunity.

Sales
Currently shop sales average £11,000 approximately.

Accounts
Current records and accounts can be inspected when viewing

Trading Hours
Greyhound Lane:
Monday – Friday 06:45 – 16:00
Saturday 08:00 – 16:00
Sunday 09:00 – 16:00

Drewstead Road:
Monday – Friday 06:45 – 16:00
Saturday 08:00 – 16:00
Sunday 09:00 – 16:00

Staff
Operated under management with zero hour part time staff.

Building External
Greyhound Lane is a wide single fronted mid-terrace three storey building with outside seating for up to 20 customers.12 outside the front and 8 to the rear courtyard. Internally has seating for up to 30 with the customer service counter to the left. At the rear is a kitchen and good-sized storage room and a passageway that leads to customer toilets including baby change, a small outside courtyard with additional seating and a second storage room.

Drewstead Road is a characterful two storey single fronted building with a customer service and dining area at the front with counter to the right and a small seating area at the front. To the rear is a kitchen and staff W/C.

There is no residential accommodation for owners/management available.

Tenure
We are advised that Greyhound Lane is held on a 10-year lease which commenced in April 2014. The annual rent is £14,500 exclusive (correct as advised on 04/08/20).

We are advised that Drewstead Road is held on a 10-year lease which commenced in 2016. The annual rent is £10,000 exclusive (correct as advised on 04/08/20).

No business rates as they qualify for Business Rate Relief. This is because they are separate businesses

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Summary
This is an excellent opportunity to acquire two profitable, very well-presented and ideally located coffee bars in South London. Early viewing come highly recommended.

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For more information about this property, please contact
Kings Business Transfer, PR2 on +44 1772 913303 * (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 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.

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