Sandwich Shops for sale in Fareham

View the "SANDWICH BAR & OUTSIDE CATERING IN THRIVING BUSINESS PARK OFF M27 STH HAMPSHIRE" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.

SANDWICH BAR & OUTSIDE CATERING IN THRIVING BUSINESS PARK OFF M27 STH HAMPSHIRE

Fareham, Hampshire, England

  • Leasehold Price: £240,000
  • Annual Turnover: £424,000
  • Annual Gross Profit: £154,090
  • Annual Net Profit: £98,635
Seller Reference: HW1524
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Business Description
 
 
 
 
 
 
 
 
 
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Seller Reference: HW1524
Request Details
Business Description
LOCATION:

Adjacent to the M27 in Hampshire, this superb catering business operates on a 130 acre Centre of Enterprise in The Solent corridor which is home to more than 60 companies employing over 5,000 people. The Business Park is strategically located close to the M27 with the A3M, Portsmouth, Fareham Southampton International Airport and Southampton Parkway mainline rail station within easy reach. Amenities available to employees working within the Business Park include a choice of catering outlets, a public house and a 50-store retail shopping centre. A national Supermarket is also nearby.

BUSINESS:

This is an established, professionally-run, profitable catering operation with several strands to its business. There is also scope for additional growth if the new owner wishes to pursue further opportunities.

Sandwich Bar
The health-conscious, discerning, professional clientele visiting this attractive, well-presented lunchtime food outlet, enjoy an extensive choice of salads, wraps, paninis baguettes and sandwiches in a tempting variety of bread types. There is also a choice of hot food options. Whilst most sales are take-away, the store does offer 44 covers in a spacious, contemporary environment where customers can choose from either take-away or sitting at tables.

Outside Catering
Corporate catering represents a significant percentage of the overall annual revenues enjoyed by the business. With a large, well-equipped, professional kitchen, spacious food prep areas and dry goods storage, volume repeat outside catering orders are undertaken with daily takings of £1,000 or more not uncommon. Deliveries are carried out via a fleet of refrigerated vans covering Havant, Portsmouth, Fareham, Southampton and surrounding areas. There are occasional week-end events, usually from established customers, on 15 or so weekends each year. The vendor does not target Weddings or Christenings but advises there are plenty of opportunities available to exploit if desired.

Lunch Box Deliveries
The business has several local companies who provide a delivered weekday lunch box service to their employees as a "perk". In total around 40 lunch box orders are received, prepared and delivered each day.

Local Individual Lunch deliveries
Currently restricted to the Business Park and a neighbouring industrial estate, lunch is delivered for individuals at selected business addresses. Lunch is ordered and paid for via an online ordering system. This is currently a small part of the business but has huge potential for growth as more and more employees become increasingly comfortable with ordering fresh food online.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)

These spacious, modern ground floor premises with fully-glazed elevations enclosing the customer seating area, provide views over the adjoining lake and extend to 2,000 sq ft/190 sq m. The interior is divided as follows:

Customer Servery & Seating Area
30ft 6"/9.3m x 25ft 8"/7.7m (770 sq ft/71 sq m)
Kitchen
16ft /4.9m x 10ft 8"/3.3m (170 sq ft/16 sq m)
Refrigeration & Prep Area
25ft 8"/7.7m x 19ft 7"/6m (500 sq ft/46 sq m)
Dry Store (encloses Manager's private office)
30ft/9.1m x 16ft 8"/5.1m (480 sq ft/46 sq m)
Office: 9ft 5"/2.9m x 7ft 5"/2.3m (71 sq ft/6.5 sq m)
Staff Rest Room, Lockers & Staff C facilities
16ft/4.9m x 8ft / 2.5m (128 sq ft/12 sq m)

There is side/rear access for loading the delivery vehicles parked behind the premises as shown in the photograph.

Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

TENURE:

This is a leasehold opportunity with a 10 year lease in place which expires in 2021. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current annual rent and service charges payable totalled £29,692. There are 5-yearly rent reviews with the next review due in 2021.
Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:

The rateable value of the business premises is £12,000 and therefore zero rates are payable in 2018/19.

NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

SERVICES:

We understand from the vendor that all main services are connected to the property.

TRADE:

Accounts inspected by Adams & Co show turnover for the year of £424,174 with gross profits of £270,084 (64%) with adjusted net profits for the year of £98,635.

Please note that if a business is VAT registered, all figures exclude VAT.

HOURS:

Monday to Friday 0700 to 1500
Saturday & Sunday Closed
Closed on Bank Holidays

The business is closed throughout the Christmas and the New Year holiday period since the majority of the local businesses are also closed.

STAFF:

7 Full time staff - length of service in years:
10, 8, 7 (Manager runs the business in the owner's absence) and 3 plus 2 employees with 2 years' service. There is one new member of staff and one part-time delivery driver with 2 years' service.

STOCK:

The vendor informs us that the value of the stock is approximately £5,000

LEGAL FEES:

Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

COMMENTS:

The vendor now wishes to retire creating an exciting opportunity for the new owner to build on the solid foundations laid down over the past 16 years of successful trading.

Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
Tenure:
Leasehold
Location Details:
Adjacent to the M27 in Hampshire, this superb catering business operates on a 130 acre Centre of Enterprise in The Solent corridor which is home to more than 60 companies employing over 5,000 people. The Business Park is strategically located close to the M27 with the A3M, Portsmouth, Fareham Southampton International Airport and Southampton Parkway mainline rail station within easy reach.
Leasehold Term:
This is a leasehold opportunity with a 10 year lease in place which expires in 2021. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current annual rent and service charges payable totalled £29,692. There are 5-yearly rent reviews with the next review due in 2021.
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