Restaurants for sale in London

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

 The purchaser came to us from the advertisement on Daltons. 

Julie Ashcroft (Mar 2017)
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Leasehold Price: £89,995 Price Reduced Annual Turnover: £350,000
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Business Description
Historic Location Close To Tourist Attractions
Closed Mondays
Annual Turnover £350,000
Gross Profit Available On Request
Run Under Management
Stunningly Presented Throughout
Organic, Biodynamic & Natural Wines
A3 Trading Licence In Place
Excellent Transportation Links
EPC - C
REF 6222 – Leasehold 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 has been trading as a restaurant & wine bar on Garnet Street since 2012, having previously traded as public house throughout the 1830-1970’s and wine retailers after that. This business holds an A3 trading licence and has established itself well within the local community, with plenty of local trade in addition to passers-by and tourists. Currently, around 95% of custom is repeat business. The Business is 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. The 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 on wards. 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

Our client is currently managing the store but is looking to relocate overseas bringing forward the sale of the business.

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 is operating 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 is currently operating with 4 full-time and 2 part-time members of staff in employment – this includes a owner who works full time in the current day to day running of the business

FINANCIAL DETAILS

The Wapping Victualler Ltd has traded solidly since opening. The business generates an annual turnover of around £350,000. 80% of the sales come from the wine bar and shop with the remaining 20% on food sales. Full financial details are available upon viewing.

SUMMARY

This leasehold business 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". 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. 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.

 
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6222
Seller Reference:
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