PROMINENT CORNER RESTAURANT, CRYSTAL PALACE, SE19 Reference No: E7610J
Price:
£ 550,000
Description
LOCATION: Close to the city centre, the area is an exciting and up and coming area of London with great transport connections, streets lined with independent bars and cafes plus fantastic views over London. The restaurant is situated in a prominent position on the busy main high street. This position would also be ideal for a multiple business.
DESCRIPTION: The triple fronted corner premises is in a prime location and position with 2,500 sq ft on the ground floor. The reception area is followed by the main open plan restaurant with 120 covers and two separate function rooms with a bar section, an open kitchen and ladies and gents wc’s.
The basement comprises the main kitchen and preparation area with a separate dry wine storage and 2 stockrooms. There are 2 staff wc’s and a rear delivery area with two car parking spaces.
There are 20 lettable rooms on two floors above with some rooms occupied by staff.
BUSINESS: Established 30+ years, the business is run with 5 full time and 7 part time staff taking £20,000 pw at 65% g,p. The owners now propose to semi retire.
EQUIPMENT: Fully equipped for the trade.
HOURS: Noon to 3 pm and 5 pm to 11 pm.
TENURE: The large premises is held on 3 renewable leases with a 15 year and two 11 years remaining on current leases with a total annual rent of £111,000. The let rooms above currently produce £48,000 pa with other rooms occupied by staff but with the potential of much better income at the market rent that can more than cover the entire rent and rates.
RATES: £20,000 pa. payable
VIEWINGS/NEGOTIATIONS: Strictly through PEGASUS BUSINESS SALES on 020 7935 3939