Restaurants for sale in City of London

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Well Established Restaurant Business

City of London, London, England

  • Leasehold Price: £129,995
  • Turnover: £286,000
  • Gross Profit: £219,991
Seller Reference: B05593
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: B05593
Request Details
Business Description
Business
Please quote reference B05593

Hilton Smythe are very excited to present to the market ‘A Taste of Greece’, a new and exciting Greek restaurant, bakery and cafe offering food, coffee, pastries to enjoy inside or have delivered.

The business was originally established in 2018 as a Greek focused bakery operation however the demand for its authentic wraps, souvlaki skewer wraps, main course specials and vegetarian/vegan options has seen the business concentrate on this side of the business.

The proximity to the Roundhouse music venue provides a significant weekend increase demand for both food to enjoy in and takeaway. Our clients recently introduced a delivery option through the delivery partner ‘Deliveroo’ which is proving very successful. An average weekly delivery value achieves around £8000.

The restaurant is proving very popular with both residents and business owners, tourist visitors to Camden and the thousands of live music fans visiting the area. The announcement of a new development of apartments situated directly across from the business will also significantly increase the business footfall.

Our clients have also decided to add an alcohol licence to the business which adds a further 40% to current turnover levels.

Since the refocusing on the menu offering, our clients have seen the weekly in house turnover rise to around £6,000-£6,500.

We believe with the new growth in deliveries, option to extend hours and increase the number of internal covers as well as the ability to offer alcohol will easily result in the restaurant being able to reach the £10,000 a week level.

Our clients spent in the region of £120,000 transforming the internal and external areas of the tired unit.

The business can easily be run with 3 x staff, ensuring labour costs are kept to a very profitable level.

The business comes with over 1,600 followers on Facebook, its own website and excellent feedback on TripAdvisor.

We have placed a very attractive price on this business to gain a quick sale and would strongly advise any interested party to arrange an early viewing to avoid disappointment.

The business is being sold due to our client’s decision to relocate.

Our clients have advised any new owner will be offered a new 10-year lease.

Location
A Taste of Greece is situated on Chalk Farm Road in North West London.

The newly refitted restaurant occupies one of the most enviable trading positions along this popular parade, it is 2 mins walk from the Roadhouse Live Music venue, 2 mins walk from the centre of crazy Camden, located directly opposite from a new development site consisting over 440 new apartments and sits comfortably next door to the well-known brand Nando’s.

Chalk Farm Road acts as the main link road off Finchley Road into the centre of Camden, it is consistently busy which ensures excellent views of this new restaurant.

The business sits in between 2 tube stations - Chalk Farm Station and Camden Town.

There are pay and display parking spaces directly outside the restaurant.

Camden is a vibrant and electric place to live work and play, it attracts 1000’s of visitors worldwide attracted by its market, music venues, bars, eateries and chilled atmosphere.

Premises
Front External -

Electric Canopy, roller shutter and sliding door

4 x tables, 8 x chairs (in modern grey metal)

CCTV

Ground floor -

Fully tiled space with exposed brick walls and metro wall tiles

20 covers - opportunity to double by remodelling the current space

Air con throughout

L shaped service counter to the right side of the unit which offers 3 x glass topped chilled units and 1 x glass topped ambient display unit

Large open chiller, 2 x tall cubed glass chilled display units

3 x arm semi-automated coffee machine and grinder, 3 x drinks blenders, stainless steel integrated preparation unit with under counter storage (1 of which is chilled for milk storage)

Double fryer, 2 x kebab machines, Grill, griddle, Bain Marie, extraction unit

Cash till, card machine and Deliveroo order point

Kitchen - includes large bespoke fan oven and pastry prep oven, ice machine, microwave, 2 x door stainless steel prep fridge, chest freezer, 2 x tall upright freezers, large prep sink, hand wash sink, storage racking and fixed shelves

Customer toilet

Tenure
We are advised the business is being sold as a Leasehold with a new 10-year lease available paying an annual rent of £52,000. The current business rates payable are £13,000 per year.

Hours
MONDAY - FRIDAY - 9am to 9pm

SATURDAY & SUNDAY - 9am to 10pm

Staff
The business is run and managed by our clients with the help of 3 other members of the team.

Financial Profile
The business now easily generates an average weekly turnover of around £6,000, the first year of trading will show an annual turnover of around £300,000. Adjusted profit levels will be approx. £60,000.

Please quote reference B05593

Tenure:
Leasehold
Listed by:
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