Fish & Chip Shops for sale in Harrow

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 We found a buyer within the first week of advertising with you. 

Mrs Herbert (Nov 2017)
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Leasehold Price: £220,000 Turnover: £104,000 Gross Profit: £70,000
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Business Description
BUSINESS
Hilton Smythe are delighted to present to the market Lobsters.  The only available fish and chips business in South Harrow, established by our client in 1992 and now offered for sale due to ill health and retirement.

The large A3 unit offers a 32 cover restaurant which could easily extended by any new owner.  The left hand side pharmacy recently added a full length rear extension to double its existing retail space which should give any new buyer the confidence to apply for a similar addition to this excellent unit.

Our client recently spent over £85,000 transforming the above first and second floors into 2 x two bed flats.  With a combined rental income of £27,600 per year, ensures there is no rent paid for the business space which in this area is now impossible to find.

There is a new 20 year lease available with the business and due to the closure of two other fish and chips businesses due to redevelopment in the area , any new buyer will be able to capitalise on the increase demand for this type of business.

Lobsters enjoys a very loyal customer base, many of which have visited the business for over 20 years!  The business currently is run on limited opening hours serving a traditional menu including fish and chips, pies, sausages and chips, saveloys, burgers, kebabs, chicken and chips, sides and cold drinks.

We believe there is still huge scope to develop the business by extending the current opening hours, offer a delivery service in the area and take card payments.  Also introducing a website and having a presence on social media to promote the business could prove beneficial.

The large shop unit would appeal to any similar operator looking to modernise and extend the current space to more than double current turnover or to several branded restaurants looking for a spacious A3 unit on a high footfall community parade.

 

LOCATION
Lobsters fish bar occupies a highly desirable trading position on Shaftesbury Parade, Shaftesbury Avenue, South Harrow.

The business sits in the middle of the area's main retail parade, including a Pharmacy, Coral betting shop, a mix of high street banks, Tesco supermarket, McDonald's and independent retailers. The parade is extremely busy and units like this rarely come onto the open market.

South Harrow is seeing continuous development and is the result of the growing urbanisation and easy access to central London by rail and London underground.  The nearest tube station is South Harrow and mainline station is Harrow on the Hill.

The business is surrounded by large residential estates, Two excellent schools including St Dominic's sixth form, two hospitals, golf course and several large playing fields.

The parade is fortunate to enjoy free parking for customers and our client’s business also offers a free off street parking to the rear for a minimum of 6 cars.

The area is accessed off the busy A40 link road, close to Wembley and only 14 miles northwest of central London.

PREMISES
Mid parade premise with vibrant signage.

Ground floor - takeaway customer waiting area, 32 cover restaurant with separate ladies and gents toilet facilities.

Service area - Preston and Thomas 2 x pan range with 2 chip boxes, 2 x heated display cabinets, large extraction unit, 2 x kebab machines, 4 x pan Bain Marie, griddle, 2 stainless steel prep sinks, Coca Cola's glass fronted drinks fridge, microwave, toaster, till and glass fronted salad display fridge.

Prep area 1 - Stainless steel fish fridge, prep tables and stainless steel prep tables, glass fronted fridge, hand wash sink and storage shelving to both sides.

Prep area 2 - Chipper, peeler, potato storage bath, boiler, prep tables, stainless steel fish fridge, 2 upright fridge freezers, chicken rotisserie, electric oven and storage shelving.

External - Private off street car park for residents and staff ( min 6 spaces ), standalone storage container with back up equipment.

Accommodation

2 x flats - accessed by private side stairs.

1st floor - Hall, kitchen, living room, bathroom, 2 x double bedrooms

2nd floor - Hall, kitchen, living room, bathroom, 2 x double bedrooms.

Please note - all equipment is serviced once a year.

TENURE
We are advised Leasehold.

A new 20 year lease is available.

Rent is £24,000 per year. With the rental income from the flats achieving £ 27,600.

HOURS
The business is currently run 7 days a week on limited hours.

Restaurant 11.30am - 8.30pm,

Takeaway 11.30am-9.30pm.

STAFF
The business is owner run and managed by a husband and wife team with the assistance of 2 part-time members of staff.

FINANCIAL PROFILE
According to the latest set of accounts the business reports turnover in the region of £104,000 with a gross profit at 67%.


Tenure: Leasehold

Listed by: Hilton Smythe
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