Union Viet Cafe and Restaurant, 120 Union Street, London, SE1 0FR

Union Viet is a small café and restaurant, family operated business offering fresh and authentic Vietnamese food on this high footfall London street. The café attracts commuters, tourists and and the local community while the modern restaurant setting offers diners a place to enjoy authentic Vietnamese food in a relaxing family environment. The unit is fully licensed to sell alcohol and serve hot and cold drinks throughout the day.

This is a rare opportunity to purchase the lease of a profitable business in a sought after London area and is only available due to the tenants desire to retire.

Union Viet is situated on Union Street London, adjacent to the London Fire Brigade Head Offices. Union Street forms part of the B300 and is located in the Central London Borough of Southwark. It is linked to the Cut (Waterloo) to the West and Newcomen Street (Borough) to the East. Southwark Underground station is at the western end on the junction with Blackfriars Road.

London Bridge station, with domestic and international tourist attractions of The Shard and Borough Market, is only a 10 minute walk East. Waterloo station with attractions like the Old Vic is a similar walk to the West. A 10 minute walk north takes you to the Tate Modern and Shakespeare's Globe on the river Thames.

The property, adjoined to a contemporary apartment building development, was a shell when the existing business took out a lease in 2015. The bar, kitchen and restaurant areas have all been fitted out to a high spec and have been well maintained. A new tenant could trade within the existing unit and introduce their own retail offering with little outlay required in the unit.

- Entrance lobby
- Bar and restaurant (20 covers)
- Trade kitchen with pass and dumb waiter
- Storage
- Disabled toilet

All trade fixtures and fittings in the property are included in the sale.

- Restaurant (50 covers)
- Ladies and gents WC's
- Office
- Staff room
- Kitchen prep area including walk in fridges and freezers

The business is currently operated by a family who open the restaurant on limited hours: 11am-3pm and 5pm-9pm Monday to Friday and 12pm - 9pm Saturday. There is a opportunity to attract morning commuters by opening at 8am and an opportunity to extend dining in the evening to 11pm within the existing premises license.

There is significant space in on the pavement outside the property and the current tenants have been success, previously, in applying for a pavement license to trade in this area. A new tenant could reapply for a license which would introduce an external trade area, which would be a unique selling point for a café in this area.

Further business growth can be derived from this restaurant by offering takeaway with delivery services like Just Eat, Deliveroo and Uber Eats.

The owners currently operate the business with the assistance of 6 full time and 2 part time staff (as and when required).

Trading information provided show that as of 30/08/2022, the business generated an annual turnover of circa £464k net of VAT with adjusted profit in the region of £83k. Full Trading Profit and Loss Accounts will be made available to seriously interested parties on request after a formal viewing of the business has been undertaken.

There is a class E premises license in place with the sale by retail of alcohol on and off the premises permitted, with licensing hours being 8am - 11pm Monday to Sunday.

A copy of the license will be made available for applicants to view.

The property is held on a full repairing and insuring lease for a term of 20 years commencing 18th March 2015. The current rent is £48,000 per annum which is due for review in March 2025 and 5 yearly thereafter.

The current rateable value according to the VOA as of 2023 is £53,000. The local authority is Southwark Council.