Gastro Pub For Sale In Central London

Business description

Outstanding opportunity to acquire a successful gastro pub franchise business.

A modern gastro pub in the heart of central London with breathtaking views of the River Thames, local produce fronting menus, and a wide selection of beers and ales.

Location:
Sought after location near to St.Pauls, the Millennium Bridge and
the Tate Modern, in a densely populated area frequented by young residents and local office workers. City of London plans to extend the Thames Walkway in the next 2-3 years bringing vastly increased foot fall directly to the pub.

Premises:
Recently refurbished with fixtures and fittings worth £35k.
Area: 170m2. Seating capacity: 130. Full on- and off- licence.

Leasehold:
10 year lease, 7 years to run.
Rent: £62k per annum. Rates: £27k per annum.
Rent review every 5 years. Next review in November 2010.

Employees:
2 managers, 6 front of house staff (3 f/t, 3 p/t), 4 kitchen staff (f/t).
The vendor does not take an active role.

Opening hours:
10am to 1am Thursday to Saturday.
10am to 12am Sunday to Wednesday.

The vendor has instructed the sale in order to concentrate on other projects

Financial overview

Year 2006-07 2007-08
Turnover £512k £625k
Gross Profit £347k 68% £428k 68%
Net Profit £45k 9% £53k 8%

Net profit is stated after the 5% franchise fee.

Asking price: £130,000 (asset and goodwill sale)

Property information

Property:

Leasehold

Lease terms:

10 year lease, 7 years to run.
Rent: £62k per annum. Rates: £27k per annum.

Location:

Prime location overlooking the Thames

Other information

Furniture / Fixtures value:

£35,000 (included in the asking price)

Related documents:

• 
• Business Summary

• 
• NDA