Ice Cream Parlours for sale in Southampton

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C. McFarquhar (Apr 2017)
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Leasehold Price: £129,995 Price Reduced Turnover: £80,000 Gross Profit: £70,000
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Business Description
Hilton Smythe are excited to present to the market Italian Creams, established within the city centre in June 2014 and now offered for sale due to ill health.

The large unit has been transformed by our clients into a contemporary Italian influenced ice cream parlour with the quality and appearance seen in any branded high street favourite such as Costa, Carluccio's or Thorntons.

Our client has spent in the region of £300,000 on refurbishment with £170,000 on bespoke Italian equipment, counter and seating alone. Installation of a new kitchen, toilet facilities, ceiling, electrics and modern decor throughout.

The artisan menu offers a choice of over 25 Italian gelato from strawberry cheesecake, salted caramel to apple crumble or lemon sorbets. There is a menu of 8 types of hot waffles, hot cookie dough, iced coffees, gelato milkshakes, hot coffee and cold drinks including some sweet snacks. There is massive potential to add a savoury menu to the business which would double the footfall and especially increase the takeaway and delivery side of the business.

All gelato is made fresh on site , making the business unique to others similar types of business trying to compete in the area.

Our client currently uses deliveries and Uber eats which adds an average of £1,500 extra sales per month. The business attracts as mix of regulars, shoppers, business users, tourists, customers using the photographic and beauty business located on the first and second floors ship crews, and hotel workers and lots of students, especially the European and Chinese students who are loyal fans of the business and quality of gelato served.

The business uses an active Facebook large which has 1,300 followers and a 4.8/5 customer review score from 56 visits, trip advisor score the business 5 star!

Due to Ill health the business is run to suit, increasing local advertising, extending the menu, increasing deliveries, expanding to first floor would see a extensive increase in current turnover.

Our clients are happy to offer an agreed handover if required.

Italian Creams occupies a highly desirable trading position just off the High Street in Hanover Buildings, in the heart of Southampton city centre just up from Houndwell Park .

This part of the city centre is thriving with lots of new developments including a new retail and dining complex directly opposite, as well as new apartments including 260 new student block directly behind the business.

Southampton is a port city on the south coast, home to the Seacity museum and historic port, it has an excellent choice universities and Southampton university is ranked in the top 1% of universities worldwide.

The business sits alongside a busy parade of high street retailers, post office and high street banks including department stores like Marks and Spencers, Debenhams and Primark which are facing. The main bus station is directly in front of the business and Southampton central main line station only 5 mins away .

There are 2 multi storey parking within 5 mins as well metered parking on the same street as the business.

Mid parade unit with excellent signage.

A3 licence in place

The lease includes the entire building which is arranged over 3 floors, currently only the ground floor is used for the business.

The first floor is rented out to a photographic studio and second floor to a Beautician which combined, earns a yearly rent of £16,200 per year. Both these businesses are let in short term agreement to allow the clients business to extend when required.

Ground floor - Customer seating area for minimum 40 covers, majority of seating is bespoke pink leather booths which can sit 6 people. A full length service area, customer toilets including disabled toilet, storeroom and kitchen.

Equipment included -

Foster 2 door fridge,
Foster 2 door freezer,
Foster 3 door under-counter fridge,
Barista pack including knockout drawer,
Sanremo 3 x ar,
Semi auto coffee machine,
Hot water boiler,
Double panini grill,
Stainless steel counter units with prep sink,
Crepe machine,
2 x waffles machine,
4 x pan chocolate melt own,
Blentec machine and 3 jugs,
2 xISA super show 24 pan gelato display units,
ISA super show pastry display unit,
3 x tv menu screens and computer,
50 inch plasma wall mounted tv,
Cone holders,
3 sizes of tub holders,
Tea box holder,
Culvert ,
Plates and sundae glasses,
Tea cups and saucers,
Cookie dough cast iron pans and wooden blocks x 8,
Soft serve ice cream machine electro freezer,
Ice cream machine,
Epos till,
Blend stick,
10 x storage shelves,
Storage containers and sweet jars,
48 gelato pans and spatulars’
Serving trays,
Chocolate machine.

Assets valued circa £170,000.

We are advised Leasehold.
New 10 year lease with 5 year break clause.
Combined rent for 3 floors £35,000

The business is run to suit, currently 10.00am -8.00pm 7 days a week.

Potential to open earlier for coffee takeaway trade.

The business is owner run and managed by a husband and wife team with the assistance of family members at weekend.

Financial Profile
The business reports turnover in the region of £80,000 with a gross profit of circa 87% for this financial year.

Tenure: Leasehold

Listed by: Hilton Smythe

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