The property is located on the east side of Chepstow Road close to extensive shopping facilities and leisure amenities available locally in Bayswater and Notting Hill
- Situated in the Chepstow Road area of Bayswater in London W2.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent metered parking facilities.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A40, A4207 and A4206 with excellent underground rail links.
- Princess Square, Notting Hill, The West End and Paddington all lie close by.
- A lifestyle area.
- Excellent local demographics for this type of area.
- A very affluent area.
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 £165,000 pa. (See financial summary below).
- A business with great potential which has not been exploited because the owner is nearing retirement.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and an ideal purchase for a lover of home-made foods.
- Low rent & rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- This concern specialises in Greek and Mediteranean food, served by the store's owner and chef who creates the culinary magic. The food has a homemade appeal and ranges from veggie burgers through to moussaka with fresh salad to egg florentina on spinach and rice, pasta, pizza and sea food in a clean and bright shop, surrounded by a host of interesting artefacts and Beatle memorabilia.
The concern employs 4 full time members of staff.
The owner is involved in the day to day running of the business.
No marketing or promoting of the business has recently been undertaken as the business is well known and has an excellent reputation.
There is no local competition offering such an impressive home-made menu.
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.
• The business would benefit from being licensed and serving alcoholic beverages with meals.
• Becoming more efficient with staffing levels.
• With the introduction of a 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 property is terraced and is part of a parade of shops and is approximately 729 sq. ft. The front is branded with an attractive glass front. The main customer service area is tiled/carpeted with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out. (A1) Retail ground floor and basement shop with rear garden. The shop comprises: ground floor - shop area, kitchen and patio. Basement, two rooms and bathroom/wc.
The café/delicatessen can cater for up to 40 covers. The customer service point is to the left. There is an overhead menu. There are customer toilets.
To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.
Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at £20,000.
The present turnover is £166,400 per annum. The present value of the stock is £2,000. The potential turnover of the business within the next 2 years is forecast to reach £200,000 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.
The business is open 7 days a week from 06:00am to 10:00pm
The original length of the lease was 15 years with 6 years remaining (a new 15 year lease can be issued to new owners). The rent is £24,000 pa with a review in 2019. The lease may be renewable or negotiable for longer term if required. The rates are £6,000 pa.
The owners are available for viewings at any time by prior arrangement.
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