A3 Sandwich Bar In Covent Garden For Sale

Business description

Located in busy shopping, commercial and tourist district of Covent Garden with heavy footfall of passing trade. Only trading 5 day week. Operated under management. Advised turnover c£5,000 per week. Rental income from offices above which mainly cover the rent payable of £28,000. Business therefore benefits from extremely low overhead.

Property information

Property:

Leasehold

Location:

Location
Sought after position between Covent Garden and the Strand close to many theatres, offices and shops benefiting from a heavy footfall of passing trade from the office workers, shoppers and many tourists in the area.

Business
A3 Take Away Cafe (Sandwich Bar) established on the site for the past 5 years by the current owner but a similar business has been on this site for many years. The business serves take away only for hot foods, sandwiches, paninis, snack foods and hot and cold drinks plus a buffet trade for surrounding businesses.

Advised turnover comprises c£4,500 per week (shop sales) and c£500 pw (buffet trade).

Very profitable business due to very low overheads with rental income achieve from upper parts covering the majority of the rent payable per annum.

Hours
7.30am-4pm Monday to Friday only.

Staff
Various staff with a wage bill of c£1,600 per week.

Premises
Mid Terrace building comprising Ground Floor Shop, Basement, 3 offices on upper floors.

Shop: Fitted with tiled flooring, refrigerated serving display counter, 2 microwaves, double Pannini machine, toaster, espresso machine, coffee grinder, heated unit, drinks display fridge and built under fridges.

Basement: Accessed via internal stairs leading to a fitted Kitchen equipped with stainless steel work tops, 2 convection ovens, 2 two ring hobs, hot plate, stainless steel extraction system, stainless steel double sink, various fridges and freezers.
Dry goods storage area. Staff cloakroom.

Upper Parts: Accessed via separate entrance leading to 3 furnished offices, each with 4 desks and upholstered office chairs. Advised Rent achieve for these offices is £800 per office pcm inclusive.(c£28,800 pa)

Tenure
15 years remaining on current lease (2012). Advised within the Landlord and Tenant Act.
Overall rent £28,000 per annum. Next rent review 3 years.
Net rent for shop mainly covered by the rent achieved when offices are fully let.