Leasehold Cafe and Studio Flat in Margate Kent - Prime Road Location, 50 Total Covers, £3-3.5K Weekly Turnover
Margate, Kent
- Status
FOR SALE
- Date Submitted:
05/08/22
- Advert ID
300234
- Reference
C1116 / Rightbiz
- Call Agent:
- Leasehold: £39,500
- Rent: £7,825
- Turnover: £169,000 (£3,250 Per week)
- Net Profit: On request
Key Features
- Price Reduced
- Established Business
- Fully Fitted
- Retirement Sale
Business Details
LEASEHOLD CAFE WITH STUDIO FLAT
PRIME MAIN ROAD LOCATION - 42 COVERS 8 OUTSIDE - TURNOVER AVGS £3,250 PWK - SAME HANDS 9.5 YEARS - RETIREMENT SALE
Location
These well appointed premises occupy a coveted trading position fronting a main road on the outskirts of Margate, serving a well populated residential area and enjoying excellent passing trade all year round.
Business
This is a well established concern which has been in the present hands for some 9.5 years and which is now only being marketed as a result of the Vendors wish to retire. Tremendous potential exists for the introduction of longer hours including Wednesdays, evening opening and outside catering.
Turnover
We are informed that the turnover is seasonal but averages around £3,250 PWK @ 65% GP.
Staff
Family Run
Hours
8.00am to 5.00pm - Mon to Sun (Closed Weds)
Premises
Seating for 8 to front. Double fronted premises with single entrance to: Café/Restaurant Area: tasteful decor and furnished to accommodate 42 covers. Refrigerated serve over counter, till, espresso coffee machine, fridge. Kitchen Area: griddle, double fryer, 4 ring cooker, 3 microwave ovens, extractor canopy, microwave oven, st/stl sink. Store Room: 4 chest freezers, double deep st/stl sink, dishwasher, washing machine. Lower Ground Floor: Store Room: Staff W.C. Outside: Yard: Pedestrian access.
Living Accommodation
Self Contained basement studio flat with separate rear entrance. Comprising: Bathroom: Lounge/Bedroom: Kitchenette:
Tenure
Approx 5 Years remaining on original lease. RENT - £7,825 P.A (5 year reviews)
EPC Rating
Band E
Business Rates
Nil currently payable
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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