Restaurant/cafe for sale in London Road, Portsmouth PO2

£149,950
Restaurant/cafe for sale
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Property description

Business
Please quote reference B06128

Hilton Smythe is delighted to present to the market Pizza Time (Portsmouth), a new and exciting pizza franchise opened by our client in 2019.

The exceptionally presented unit has undergone a complete transformation from its original state, which has included a significant extension to the rear of the property and complete upgrade to all areas of the interior space.

Our client invested over £150,000 to establish the complete franchise unit and due to family reasons is now simply looking to sell and retrieve the initial investment made.

The Pizza time business was established by two brothers who after 10 years of working in the city decided to take a different path and explore the opportunity of offering freshly made, restaurant standard pizzas in a fresh and vibrant takeaway environment.

The branded takeaway is bright and contemporary in its appearance; however it focuses on an authentic preparation process with 5 hours of daily preparation, hand making all pizzas with no machines or shortcuts. They strive to use locally sourced ingredients where possible and offer over 25 different pizzas!

The franchise will train and support any new business owner to enable them to succeed, in addition to the business support, there are excellent relationships in place with the supplier network to ensure consistent quality.

There are currently over 10 franchises in place which is increasing each month.

In addition to the large choice of made to order pizza’s, there is also a choice of classic side including - potato wedges, hot dog balls, mozzarella sticks, chicken wings, potato skins and loaded pulled pork nachos.

Desserts include Cadburys chocolate pizza’s, chocolate chip cookies, Ben & Jerry’s ice cream.

There is a large choice of family deals and combo saving offers throughout the week.

We are advised before the Covid lockdown period, the business was split 36% Takeaway and 63% Delivery and through lockdown 87% delivery focused. There is a very healthy mix of professionals and families in the Hilsea area who are attracted to many of the lunchtime deals and larger family deals in the evening.

All deliveries are managed in house with 4 employed delivery drivers in place.

Due to our client’s family commitment’s, he is currently only operating in the evenings however any new operator would look to increase the hours when all businesses are fully open.

Key Selling Points -


  • Fully equipped ‘Turn-key’ business opportunity

  • Growing turnover - forecast for £286,000 this year

  • Excellent reputation in the area

  • Business handover period offered

  • Excellent extended storage areas

  • Marketing plan in place

  • Over 2,000 customers on business database

  • 25,000 business flyers

  • Trained team in place

  • Full sales forecast plan in place

  • Potential to achieve £25,000 per week

  • All equipment less than 2 years old

  • Desirable location

  • Expanding franchise model


The business is currently being run as a franchise; however any new owner will have the option to continue with the current franchise agreement or take on the business as an independent operator.

Very rarely do pizza takeaways of this standard or sales growth potential come onto the open market and we therefore recommend very early enquiry to avoid disappointment.

Location
Pizza Time (Portsmouth) occupies a prominent trading position along London Road in Hilsea, Portsmouth.

This part of London Road (A2047) offers an excellent choice of food takeaway businesses, choice of barbers, a spar convenience store, framing business, florist and main post office. There is also a large ncp pay and display car park directly facing.

Hilsea is a very popular district of the city of Portsmouth and home to one of Portsmouth’s main sports and leisure facilities - the Mountbatten centre. Trafalgar is also in Hilsea.

London Road is the main bus route into the centre of Portsmouth and as a result enjoys a much heavier footfall.

The nearest mainline station is Hilsea, just 5 mins walk from the business unit.

London Road is connected to by the A3 link road which connects directly to the M275 and M27 motorways.

Premises

  • Full height windows to full width of shop front

  • Bright customer waiting area

  • Solid wood service counter with 2 x order points

  • Large open plan preparation area

  • Staff changing area/toilet facilities

  • Store room with large walk in chiller & freezer



Tenure
We are advised that the business is being sold on a Leasehold basis, with 13 years remaining on a 15 year lease. The rent is £12,500 per annum and has £0 rates payable.

Hours
The business hours are;

Monday – 4:00pm - 11:00pm
Tuesday – 4:00pm – 11:00pm
Wednesday – 4:00pm - 11:00pm
Thursday – 4:00pm - 11:00pm
Friday - 4:00pm – 11:00pm
Saturday – 11:30am - 11:00pm
Sunday – 11:30am – 11:00pm

Staff
We are advised that the business has 1 full time and 8 part time staff members.

Financial Profile
We are advised as per the 2020 accounts, the business generated a turnover in the region of £155,000. Full financials can be made available upon further request.

Please quote reference B06128

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For more information about this property, please contact
Hilton Smythe Business Sales, 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 Business Sales, and do not constitute property particulars. Please contact Hilton Smythe Business Sales 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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