Warwick Terrace, Plumstead, SE18

For Sale - £100,000

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  • LICENCED CAFE / BISTRO BUSINESS FOR SALE
  • A3 USE / 30 COVERS + LICENCE FOR FURTHER 10 OUTSIDE
  • SALES UP TO 28/02/18 SHOW £214,424 (£75,170)
  • POPULAR LOCATION ON PLUMSTEAD COMMON
  • LEASE UNTIL 2036 / RENT £15,600pa

LOCATION:
Plumstead is a district of South East London located in the London Borough of Greenwich. It is located some 2 miles east of Woolwich, approximately 3.5 miles north-west of Bexleyheath and around 2 miles north of Welling.

The subject premises enjoys a pleasant trading position just off the busy Plumstead Common Road, forming part of a parade of three shops and a row of terraced properties overlooking Plumstead Common. This is an area with a high density of properties and a school close by and therefore has a very good potential customer base. There are other mainly independent shops nearby on the Plumstead Common Road where busses frequently pass.

DESCRIPTION:
The subject property comprises a ground floor lock-up 'A3' premises. There is a glazed frontage incorporating a single entrance door under a signage which is secured by a shutter.

There is an open plan public area of around 465 square feet with tables and chairs for 30 persons plus some outside seating for a further 10. The counter position and kitchen area are immediately on your left as you enter the café. The premises includes a customer toilet.

We understand that the fixture and fittings are owned outright with nothing held on either lease or loan agreements.

THE BUSINESS:
The Plumstead Pantry which has been established since 2016 is a gastro café offering a varied menu of all-day breakfasts, lunches, and a special Sunday menu.

Owned and operated by two working owners who are assisted in the day to day running of the business by four part time staff. The business is open to trade Tuesday through to Sunday 9am through to 5pm thus providing a total of 48 trading hours per week.

We understand that the premises has a drinks licence from midday through to 11pm and till 10pm on a Sunday.

The business benefits from regular trade from repeat custom, support from the surrounding residential area and people working in the area.

TRADING INFORMATION:
We have been advised that the profit and loss figures for year end 28/02/18 show sales of £214,414 with a gross profit of £75,170

TENURE:
The premises are held on a 20-year lease which commenced in 2016 and at a passing rental of £15,600 per annum.

A rental deposit will be required subject to status.

EPC:
The premises has an EPC rating of C - 58

RATES:
We understand that the rateable value is £ per annum with rates payable of £ 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

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.