Greenwich High Road, Greenwich, SE10

For Sale - £85,000

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  • AWARD WINNING CAFE LICENCED TO OPEN TILL 10.30pm
  • 35 COVERS / SMALL INSIDE CHILDRENS PLAY AREA
  • SALES UP TO 31/ 3/17 £138,570
  • SCOPE FOR FUTURE GROWTH
  • RENTAL £22,00PA / 12 YEAR LEASE FROM 2013

LOCATION:
Greenwich is a popular and historic area of south east London, located 5.5 miles from Charing Cross. The area has excellent transport links with Greenwich being served by two National Rail stations, Greenwich and Maze Hill as well as the Docklands Light Railway. The town also has several Transport for London bus services linking to central London and neighbouring towns. In addition, there are a number of river boat services running from Greenwich pier.

The Plumtree Café enjoys a busy trading position on the Greenwich High Road with directly in front of the premises a public car park providing parking for 30+ vehicles. Within the parade is a Sainsbury's store which helps in generating a high level of footfall in the immediate area.

DESCRIPTION:
The Plumtree Café is run as a family friendly café serving freshly made food, homemade cakes and offering a wide and varied breakfast and lunchtime menu plus hot and cold drinks. The business also derives income from takeaway sales.

The business has a glazed frontage incorporating a central entrance door under a signage leading into the main public/seating area which has tables and chairs for 35 people. To the right of the seating area as you enter is the serving counter and cooking area. At the rear of the café there is a small inside children's play area plus customer toilets.

We understand that the main seating area was refurbished and decorated in 2012 when our clients, who are selling due to family reasons, acquired the premises.

The business is open for trade 7 days a week 7.30am through to 4.30pm.

We feel sales could be easily increased after being informed that the café is licenced to open and sell alcohol from midday through to 10.30pm. There is also the opportunity to introduce an evening menu.

The business has one full time working owner who is assisted in the day to day running by full time staff.

FIXTURE & FITTINGS
We understand that fixture and fittings to be included in the sale are as follows: cool display serve over counter, 2 group coffee machines, coffee grinder (on loan), upright glass fronted display fridge, glass fronted under-counter fridge, a grill, 4-burner electric oven, bake-off oven, upright deep freezer, 2 under-counter deep freezers, double sink and drainer, dishwasher and wash hand basin.


TRADING INFORMATION
At the time of our inspection we were provided with profit and loss accounts which show up to 31st March:

2017 Sales £138,560
Gross Profit £75,657

2016 Sales £126,971
Gross Profit £71,139

TENURE:
We understand that the premises are held on a 12 year lease from 2013 and at a current passing rental of £22,000 per annum which we believe is under review. We have been informed by our client that at the moment she has verbally agreed that the rent is to increase by £1,000 per annum up to a maximum £26,000 up until the next review in 2021.

A rental deposit will be required subject to status.

EPC:
The EPC rating is F - 145

RATES:
We understand that the rateable value is £19,750 per annum with rates payable of £6,868.32 per annum. Interested parties are advised to make their own enquiries with the relevant council.

LEGAL FEES:
Each party are to be responsible for their own legal costs

VIEWING ARRANGEMENTS:
No direct approach may be made to the property / business. For an appointment to view, please contact the agent.

Hummerstone & Hawkins
144 Welling High Street
Welling, DA16 1TN

T: 0208 303 1061
E: agency@hummerstone.co.uk

IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.