Eltham Italian Restaurant With Two Self Contained Flats For Sale

Business description

LOCATION

The business is situated near the end of a parade of shops on a busy junction in the well known location of Eltham. The business therefore has very high footfall and benefits from being close to multiples such as Marks and Spencer. The area has excellent road and rail links.

DESCRIPTION

Restaurant on ground floor with two self contained flats accessed via a communal door onto the high street. The flats are of a studio configuration with modern appliances and the first floor one having benefited from recent redecoration. The restaurant itself is presented in excellent condition with purpose built reception counter featuring modern coffee maker (leased) and plasma TV owned. There is seating for 50 with 24 tables; the air conditioned ambience is modern and welcoming. To the rear of the restaurant are customer male and female WC and the kitchen preparation area is of good size and well quipped. A full inventory can be made available to interested parties.

TENURE

Leasehold with 15 years remaining on fully renewable lease. The rent review was due in January and potential buyers are advised to liaise with the vendors to obtain lease renewal on favourable terms. The rent passing is £25.000 and the Rates £11.000.

THE BUSINESS

The business has been owned by the vendors since 2006 and is run by husband and wife plus 1 full time and 2 part time staff. A full range of Italian style food and drink are on offer. Buyers recommended to carry out their own due diligence. but we understand these are substantial per week. The business is open for 6 days only and also closes at 10pm although the licence is until 12; therefore there is considerable scope to enhance takings. The self contained flats are let on assured tenancies for c £1.200 pcm.

Property information

Property:

Leasehold

Living accommodation:

Accommodation Included.

Business Operation

Employees:

3