Restaurants for sale in London

View the "REDUCED!! Bar, Eatery & Wine Shop - Central London" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 Daltons offered a simple, low-cost and effective way to advertise our business for sale to a wide audience.  

David Binder (Nov 2017)
View More
Leasehold Price: £55,000 Price Reduced Annual Turnover: £350,000
Request Details
Business Description
Recently Closed - Huge Potential
Historic Location Close To Tourist Attractions
Closed in October 2018
Previous Annual Turnover £350,000
Previous Gross Profit Available On Request
Stunningly Presented Throughout
Organic, Biodynamic & Natural Wines
A3 Trading Licence In Place
Excellent Transportation Links
EPC - C
REF 6222 – Leasehold Closed Restaurant, Wine Bar & Wine Shop

Blacks Brokers are pleased to bring to the market this leasehold wine bar & wine shop with restaurant located in the much sought-after area of Wapping, London.

INTRODUCTION

The Wapping Victualler Ltd traded as a restaurant & wine bar on Garnet Street from 2012 to 2018, having previously traded as public house throughout the 1830-1970’s and wine retailers after that. This premises hold an A3 trading licence and the business was very well established within the local community, with plenty of local trade in addition to passers-by and tourists. When trading, around 95% of custom was repeat business. The Wapping Victualler Ltd was independent and unique, offering an exciting range of organic, biodynamic and natural wines, and a selection of delicious, thoughtfully sourced food.

LOCATION

Located in Wapping on the North bank of the River Thames, this is one of East London’s wealthiest areas. This recently closed business is close to an area that is densely populated with a high level of residents working in the financial sector as Wapping is found between Canary Wharf and Liverpool Street Station. This affluent area of London is steeped in history with Tower Bridge and The Tower of London close by bringing additional passing trade. Public transport links are excellent with Wapping Station within walking distance and parking is available immediately outside the restaurant – this is free from 17:30 onwards. London Dock is currently being developed creating housing for 1,500 and is due to be finished 2018, this is within walking distance of Victualler Wine Bar.

REASON FOR SALE

The business would be ideally suited to a hands on owner operator, although has been recently run by management due to our client’s other business commitments being higher than anticipated. Therefore, the business is now offered for sale. It offers a range of opportunities for a new owner from complete staff management to full time roles for an owner operating team.

LEASE

The building is available on a competitive rent on a Full Repair and insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is three years and began in 2016 at a cost of £980 per week. The landlord is looking to negotiate a new lease upon sale. A new 6 year lease will be offered to a new tenant with a 3 year rent review.

BUILDING LAYOUT AND DESIGN

The Wapping Victualler Ltd operated from the ground floor of an impressive, four-storey, mid-terraced property. This property and those surrounding it were originally Victorian Warehouses that have been fully converted. Our client took ownership in 2012 and fully refurbished the property to introduce this stunning restaurant and wine bar. The business is immaculately presented inside and out, with classic grey and white signage displayed to the front with matching, glazed frontage and entrance. Inside, the large, open plan bar and restaurant offers seating for up to 45, with contemporary décor and bar servery positioned centrally. The business also has an open plan service kitchen.
The professionally fitted, catering kitchen, food preparation and storage areas are all positioned within the lower-ground floor and each area has been carefully finished to meet the exacting standards of this stunning restaurant and wine bar.

STAFF

The business was operating with four full-time and two part-time members of staff in employment – our client was not involved in the day to day running of this business.

FINANCIAL DETAILS

The Wapping Victualler Ltd traded solidly until closure in October 2018. We are advised that the business previously had annual turnover of around £350,000. 80% of the sales were from the wine bar and shop with the remaining 20% on food sales. These figures could easily be achieved again and even boosted by simply reopening the business and holding a relaunch event.

SUMMARY

This leasehold business has only recently closed. It is presented to an exceptional standard and offers a superb opportunity for a new owner to enjoy this award winning, stunning wine bar with restaurant in an enviable trading position. The business has most recently been recommended on timeout.com & was previously in the list of "10 best places in London to try natural wines". If reopened in the same sector, there is plenty of scope to develop the business further, in particular the food sales - with the introduction of more seats and more extensive menu, local marketing drive, social media presence and a more up to date website with booking system installed, however, simply reopening would bring immediate custom back. This proposition would ideally suit an owner who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.
Trading Hours:
MON: CLOSED
TUE: 14:00 - 23:00
WED: 14:00 - 23:00
THU: 14:00 - 23:00
FRI: 14:00 - 23:00
SAT: 14:00 - 23:00
SUN: 12:00 - 22:00

Tenure: Leasehold

Location Details: London

Leasehold Term: Rent: £980 Per Week

Listed by: Blacks Business Brokers Limited

Find out more about this business opportunity.

 
* REQUIRED
*
*
*
*
*
*
*
*
*
Would you like a free no-obligation discusson with a qualified finance provider who could help you to buy this business?
You will ONLY be contacted by your local ASC Finance director. Your details will not be passed on to any third party.
Please note that Daltons Business will send the above details to the seller of the business. By submitting this form, you confirm that you agree to our website terms of use, our privacy policy and consent to cookies being stored on your computer.
6222
Seller Reference:
You May Also Like...
loading... 
We use cookies to give you the best possible online experience. If you continue, we'll assume you are happy for your web browser to receive all cookies from our website. Find out more