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Restaurant for sale

The Hart Centre - GU51

£60,000

Property Description

Commercial information

  • Business for sale

Key features

  • Well established coffee shop and café
  • Average weekly takings in the region of £4,800 - £5,000
  • Excellent condition with 70 covers in total.
  • Viewing highly recommended

Full description

Tenure: Leasehold

DESCRIPTION
More Than Coffee is located in Fleet town centre and occupies an excellent trading position within the Hart Shopping Centre and is presented in a superb condition, along with good quality fixtures and fittings. The café is located on the ground floor of the centre which benefits from a large amount of footfall throughout the day, from both local residents and staff from surrounding retail units.

The business was established by our client in 1999, although only moved to the current site of circa 3,000 sq ft in 2012 due to expansion. The business is now a well renowned take away and eat in operation with approximately 70 covers providing flexible seating arrangements on various sized tables.

Since moving the business to the current site, our client has established a loyal and regular customer base and generates an average income of £5,000 per week with genuine potential to increase the profit margins.

In our opinion the business is still not trading to its full potential and could consider a sandwich delivery round given the number of business parks and retail outlets close by.

We have been advised by our client that the income each week is split on a fairly 50/50 basis with regards to food and drink sales, although in our opinion there is the opportunity to increase the food menu and also to increase the prices overall to make the business more profitable. Our client has also considered having take away drink cups branded with the company name and logo to enhance the overall brand awareness in the area.


Sales
Management accounts show an income in the region of £5,000 per week with genuine potential to increase profit margins.

ACCOUNTS
Current records and accounts can be inspected when viewing.

TRADING HOURS

Monday — Saturday 08:00 — 17:30
Sunday 09:30 — 16:00


STAFF
On a day to day basis the business is run by both owners, although the business also employs a mix of full and part time staff working a 7 day rota.

Building External
A highly visible setting with excellent signage in the heart of the shopping centre.

BUILDING INTERNAL
An open planned design, with a light and airy feel providing a total of approximately 70 covers. The business offers good quality fixtures which include a wood panel counter, along with traditional tables and chairs providing flexible seating arrangements. There is an open fronted chiller for sandwiches, salads and ready made baguettes and paninis.

The kitchen area is located behind the serving area and provides ample working space for all staff.

We have been advised that all the catering equipment such as the jacket potato oven, turbo over, large griddle and coffee machine are all included within the sale price.


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

TENURE
We are advised that the property is held on a 5 year lease which commenced in April 2012.

The annual rent is £40,000 + VAT exclusive (correct as advised on 14.12.15). Rent reviews are at 5 yearly intervals. An additional service charge payable to the shopping centre is in the region of £22,800 + VAT per annum.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.


SUMMARY
An ideal opportunity to purchase a well established, lifestyle change business in an excellent shopping precinct location, with heavy footfall and genuine potential to increase income.

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


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