Vietnamese Leasehold Restaurant In Central London Price Reduced For Sale

Business description

The particular highlights of the business are:
- A well-established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £230,000 with a net profit of £36,000. (See financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides superb Vietnamese cuisine in a coffee house and bar environment.

History
Phoenix Business Transfer Agents are delighted to place onto the market this superbly Presented Vietnamese Restaurant in Central London which has been established since 2010. The business has been in the hands of the current owner since 2010 and they now wish to sell due to other business commitments.

Services
This very good business opportunity provides superb Vietnamese cuisine in a coffee house and bar environment.

Staffing
The concern employs 1 full-time and 3 part-time staff.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business in FaceBook, Twitter and Flyers and is linked to various Restaurant and Café websites and has its own website.


Competition
There is no local competition.

Market
The client base consists of local residents, office and retail workers, tourists and high levels of passing trade.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the services to include deliveries, outside catering.
• Increasing the opening hours to include Friday and Saturday evenings and Sunday trading.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.


The present annual turnover is £249,600 with a gross profit of 80% and a net profit of £36,000. The vast majority of this profit is reinvested into the business. The present value of the stock is £6,000.
The potential turnover of the business within the next two years is forecast to reach at least £325,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 20 years with 10 years remaining. The rent is £40,000 pa with a review in 2021. The lease may be renewable or negotiable for longer term if required. The rates are £15,500.

Leasehold rent:

£40000pa per annum

Location:

- Situated in the Clerkenwell Road area of Central London.
- Prominent location on main arterial road.
- Part of a parade of shops. Sainsbury is planning to open next door to us.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with drama and dance schools, a university and other local amenities.
- High levels of passing trade. Especially during lunch times
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A5201, A201 and A5200.
- Farringdon, The Barbican, Bloomsbury and Holborn all lie close by. 5 minutes walk from Farringdon and Chancery Lane tube stations. 10 minutes walk from Holborn and Bloomsbury.
- Area enjoying much growth and re-generation.
- A lifestyle area.
- Excellent local demographics for this type of area. Residents living in the area have a good disposable income.

Premises details:

The property has approximately 2,700 sq ft of floor space spread over 3 floors. The ground floor restaurant area and a bar, the basement acts as an overflow to the restaurant also provides a service including karaoke, gaming nights and private functions. The front is branded with an attractive glass front. The main customer service area is tiled. It is very well presented and is very conveniently laid out.

The ground floor has 36 covers. The basement has been laid out to have 22 covers. The customer service point is to the rear. There are customer toilets.

First Floor
On the first floor there are store rooms, preparation areas, staff room and an office.

Size in square feet:

2700sq ft

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the services to include deliveries, outside catering.
• Increasing the opening hours to include Friday and Saturday evenings and Sunday trading.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

now wish to sell due to other business commitments.

Trading hours:

Monday to Friday: 11.30am to 11pm
Saturday: 12noon to 10pm
Sunday: Closed

Employees:

The concern employs 1 full-time and 3 part-time staff.

Years established:

1 year

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£85,000 (included in the asking price)

Inventory / Stock value:

£6,000