Mediterranean Restaurant And Cocktail Bar For Sale

  • $100,000

Overview

  • Food, Restaurants, Services
  • Property Type

Description

Southampton,

Hampshire, UK

Asking Price:
£99,900
Furniture / Fixtures included
Turnover:
£100K – £200K
Net Profit:
£49,000

New Mediterranean Restaurant And Cocktail Bar For Sale

Leasehold: Price on Application

Turnover: Price on Application

Business Details

We are pleased to announce this prime location brand new (only 12 months traded) Mediterranean restaurant and Cocktail bar in the city centre of Southampton is available for sale.

This double frontage corner position unit has been renovated and decorated with high standards prior to opening (December 2021) and offering a bright and homely seating area. The premises is CCTV monitoring and licensed to sell alcohol until midnight and offers a seating area of around 90 people inside as well as holding a pavement license which allows for an extra seating of 30-35 outside to the main road. The restaurant has a very large dining area which splits into two zones on the same level. The front part has full glass frontage, it’s light and bright colours. Whereas the back part is more industrial, warm and cosy. The bar area has been designed by a very experienced mixologist so it has a professional cocktail station that made from stainless steel as well as large granite bar top. There is a professional Hoshizaki ice machine and a professional ice crusher for the bar. (A full bar & equipments pictures/ videos can be send on request). The restaurant has a very large, fully equipped kitchen with built in stone bake gas oven for homemade cooking, pizzas and bread etc making. It has a cooking space of 7×12” pizza at the same time. The premises is fully equipped with high standard industrial equipments. There are so many large fridges & freezers as well as a few large bain maries, large grill, 6burner with double door oven, stainless steel work surfaces, storage etc in the kitchen. The KP washing area is separated from the main kitchen area. There is also separate a very good size walk-in fridge & freezer in the premises. A small office at the back located behind the kitchen. There is also a separate large storage for bar. There is 1 staff toilet and 3 other toilets (ladies-gents-disabled) for customers. This is not a fast food/takeaway style restaurant. It is a wine dine kind of place where guests enjoys their time with freshly prepared delicious food, a great selection of wines and premium cocktails. However, the new owners may bring their own ideas and style to it. The area is open to any sort of ideas and suits any cuisines.

There is a massive new project that have already started early this year right next door to the premises. The new developments plan has roughly 1400 new flats (1-2-3 bed) with more shop units on the ground floor. Which will make a huge impact to the area and directly to the restaurant. There are also two university in Southampton within walking distance from the restaurant which has around 45.000 students in total and so many student accommodations near by. We are engaging a lot with some of these students already and have a good relationship with them. If you have a excellent restaurant plan and are successful in taking advantage of this new development as well as the current potential, then this is a perfect opportunity!

There is plenty of on road parking in front of the restaurant as well as near by side roads.

The business is currently operating 5 days a week with very reduced hours (half day). However, the operation times are between 07.00 to 00.30 subject to holding a late night licence.

Current rent for this over 2350sq ft 90 cover restaurant is £30k per annum. There is 13 years remaining in the lease.

Looking for a simple quick sale due to not be able to find reliable back of house & front of house team since opening last year. Happy to explain more about the business and answer any question you may have. Simply get in touch.

Property Information

Property:
Leasehold
Lease Terms:
13 years left
Leasehold Rent:
£30 per annum
Location:
City centre location
Planning Consent:
A3

Business Operation

Reasons for selling:
Not be able to find a reliable kitchen team anymore
Employees:
4
Years established:
1

Other Information

Furniture / Fixtures value:
£99,900 – included in the asking price
Inventory / Stock value:
£15,000

Source link

Address

  • City London
  • State/county United Kingdom
  • Country United Kingdom

Details

Updated on January 13, 2023 at 4:10 pm
  • Price: $100,000
  • Property Type: Food, Restaurants, Services
  • Property Status: For Sale, New Listing

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