Restaurant/cafe for sale in Cafe/Coffee House, Wanstead, London E11

A rare opportunity to acquire a high volume cafe in a highly desirable and affluent area. The premises has been fitted out to a very high standard with high quality fixtures, fittings and equipment throughout which are all included within the sale price. The business is long established, with our client owning and operating it for the last 19 years, bringing the business to market with a genuine reason for sale due to retirement. Our client has built up an enviable reputation over his period of ownership, supported by a 4.5 * Google review. Very strong established turnover which still leaves massive scope to increase further by extending the trading days and times, as our client currently operates 7 am till 5 pm Monday to Saturday, 8 am to 4 pm on Sunday and this premises really is suited to capture the evening trade. Our client has only just set up on Just Eat and expects as it becomes more established, that the turnover will increase significantly from its current levels. It's rare for a business with this level of turnover and in a highly desirable area like this to come to market, so an early viewing is advised. Our ref: RX278556 - C6760L

Location

The premises is located in a highly enviable position, directly opposite a recreational park with exceedingly high levels of footfall and vehicular passing trade, being positioned just 0.2 miles from the station. The premises is surrounded by both independent and big name traders, including a pharmacy, Superdrug and Natwest Bank to name a few

Tenure

We are advised the premises is subject to a 10-year renewable lease at a current rental of £41,000 per annum exclusive

Tenure

Terrace retail shop situated directly opposite a large recreational park, fascia board, extending awning over a forecourt seating area currently arranged for 12 covers (could accommodate more if required) and single glazed entrance door leading into the premises which measures approximately 659 sq. Ft. And is arranged as follows:

Main Cafe Area

With tiled chessboard style flooring, suspended ceiling, panel lighting and currently arranged for 60 covers. To the rear of the main cafe area is a chest-height serve-over counter with countertop bread display, a chilled serve-over display unit, large double Coca Cola drinks display fridge. Behind the counter is a till and Just Eat system

Kitchen

Further back from the serve-over counter is the open-plan kitchen equipped with various stainless-steel prep tables, 2-group coffee machine, Lincat hot water dispenser, coffee grinder, under-counter fridge, Bain Marie, commercial extractor over, griddle, twin-basket fryer, 6-burner oven, wash-hand basin, 4-slice toaster, 2 x microwave, double panini press, dishwasher, stainless-steel sink, large upright freezer

Courtyard Area

A door at the rear of the kitchen area leads out to a courtyard area at the end of which is a garage utilised for storage and currently equipped with 4 chest freezers, various racking, shelving and a large walk-in fridge with lighting. Another opening at the rear of the main cafe area leads into WCs

Staff & Trading Hours

The business is run by the vendor on a full-time basis with the assistance of 1 full-time member and 6 part-time members of staff. Monday to Saturday 7 am to 5 pm, Sunday 8 am till 4 pm. We are advised these hours are unrestricted so massive scope for a purchaser to increase these hours to capture the evening trade

Turnover

We are advised turnover averages £7,000 to £8,000 per week working to the usual high gross profit margins associated with the trade

Business Rates

The premises is subject to a rateable value of £25,000 and we are advised business rates are currently payable at £3,000 per annum

Legal Costs

Each party are to be responsible for their own, with the landlord's legal costs to be split 50/50