Restaurant for sale

14 Tiller Road - E14

£89,000

Property Description

Commercial information

  • Business for sale

Key features

  • Well used sandwich / coffee shop
  • Advised takings in the region of £3,500 - £4000 per week (5 days trading)
  • Loyal and regular customer base
  • Excellent East London location, 24/7 B1 licence

Full description

Tenure: Leasehold

DESCRIPTION
The Olive Branch is situated in Docklands business centre in a densely populated residential and commercial area of Millwall, East London.

Millwall is an area in London, on the southwestern side of the Isle of Dogs, in the London Borough of Tower Hamlets and lies to the immediate south and southwest of the commercial estates of West India Docks including Canary Wharf and has a long shoreline along London's Tideway part of the River Thames, the area is therefore a hive of activity throughout the day with local residents and also office workers within the same building.

Since opening, the business has established a loyal and regular customer base and we have been advised it generates an income of £3,500 - £4000 per week with excellent gross profit margins yet still offers terrific growth potential.

The Olive Branch has served the area for many years and was bought by our clients in 2011 and provides what is now a well used destination place, with 20 covers arranged on mixed sized tables creating a pleasant and welcoming meeting place throughout the day. In our opinion the business could open in to the early evening and provide a Bistro style menu given the many houses locally and lack of other eating establishments locally.

Our client has refurbished the property to provide the current set up which includes good quality fixtures and fittings, a serving area with marble tops and glass display cabinets for cakes and cold drinks. The majority of the income comes from food led sales throughout the day, especially at breakfast and lunch times.


Sales
Advised takings in the region of £3,500 - £4000 per week (5 days trading) with excellent gross profit margins.

ACCOUNTS
Management accounts can be inspected when viewing by genuinely interested parties.

TRADING HOURS
Monday — Friday 07:00 — 18:00

STAFF
Run by the owners on a day to day basis along with additional part time staff during peak periods.

Building External
A highly visible office block with retail space on the ground floor. Internally, the property has been tastefully refurbished and is therefore presented in good order throughout with modern fixtures and fittings.

BUILDING INTERNAL
Fully open plan in design, with a light, airy and welcoming feel providing a total of 20 covers for those wishing to eat in. The main serving area has a single till and glass display cabinet for sandwich fillings, salads and cakes.

RESIDENTIAL ACCOMMODATION
There is no residential accommodation for owners/management available.

TENURE
We are advised that a new 5 year lease will be granted on change of ownership subject to landlord approval. The current rent is £1008 per calendar month (correct as advised on 25.11.16).
We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.


SUMMARY
An excellent opportunity for either an existing operator or someone looking for a lifestyle change to take this business on to the next level by further developing the loyal customer base which has been built up over time since the business was purchased by our client in 2011.

A viewing is highly recommended to fully appreciate the location, condition and overall business opportunity.


Nearest stations

  • South Quay (0.4 mi)
  • Crossharbour & London Arena (0.4 mi)
  • Heron Quays (0.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Tustin Court, Unit 1, First Floor, Port Way, Ashton-On-Ribble, Preston, PR2 2YQ

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • South Quay (0.4 mi)
  • Crossharbour & London Arena (0.4 mi)
  • Heron Quays (0.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Tustin Court, Unit 1, First Floor, Port Way, Ashton-On-Ribble, Preston, PR2 2YQ

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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