Lease Sale - Fully Fitted Pizza Restaurant with 45 Covers Near West Norwood Station
West Norwood, London
- Status
FOR SALE
- Date Submitted:
26/04/24
- Advert ID
610463
- Reference
West Norwood turnkey pizza restaurant / Rightbiz
- Call Agent:
- Turnover: £400,000 (£7,692 Per week)
- Net Profit: Not Applicable
Key Features
- Fully Fitted
- Potential for Alternative Use
- Town Centre location
Business Details
Fully fitted pizza restaurant lease for sale in high footfall location close to West Norwood Station
LOCATION
Located on Norwood Road circa within a 5 minute walk from West Norwood Station with regular direct trains into London Victoria in 22 minutes.
The area boasts a vibrant and diverse mix of independent and national retailers, cafe’s and restaurants. Operators nearby include West Norwood Picture House, Knowles of Norwood, Blackbird Bakery and Sweet Carolina Kitchen & Bar.
DESCRIPTION
The subject property is very well fitted and is arranged over the ground floor only with approximately 45 covers albeit this could be increased. The restaurant is in excellent condition and boasts a large open plan kitchen with a top of the range wood fired pizza oven. This restaurant also boasts an office, 2 x cold rooms, wc’s, storage space, and pot wash area. The site benefits from three phase electrics and commercial gas. Additionally, there are 4 outdoor covers on Norwood Road.
ACCOMMODATION
The property comprises the following approximate floor areas:
Ground floor- 1,624 sq ft/ 150 sq m
LEASE
Available by way of an assignment of the existing 10 year lease from 20th November 2018 at a passing rent of £40,000 pax. The lease is subject to 5 yearly reviews with the November 2023 review outstanding. It is our understanding that the lease is contracted inside the security of tenure and compensation provisions of the L&T Act 54.
PREMIUM
Premium on application
LICENSE
We are advised that the premises license permits the sale by retail of alcohol both ON & OFF the premises from 9am to midnight on Fridays & Saturdays and from 9am to 2330 the rest of the week. The license allows the sale of alcohol without food. A copy of the license is available on request.
TURNOVER
Circ £7,000-£8,000 per week excluding VAT. There is scope to increasse this with more covers.
BUSINESS RATES
Rateable Value - £26,500
UBR - 0.499
Rates Payable - £13,222 (excluding any relief - see below)
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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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.
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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.
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Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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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
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
Get Solicitor
