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Large Chinese Restaurant In Southampton For Sale

Southampton, Hampshire
Asking Price:
£49,950 Furniture / Fixtures included
Turnover:
£80,300
Net Profit:
Available on request

Established Over 35 Years
Excellent Online Google Reviews
Projected Annual Turnover (2019/20) £80,300
Projected Gross Profit (2019/20) £39,000
Accounts Available Upon Viewing
50 Seat Restaurant
Trading With Our Vendor Since 1997
3 Bedroom Owners Accommodation
Free Parking
EPC - D

REF 5513 – Chinese Restaurant with Accommodation

Blacks Brokers are delighted to bring to the market this leasehold Chinese restaurant with accommodation located in the much sought after area of Totton, Southampton.

INTRODUCTION

The Family House has been trading here on Commercial Road for over 35 years, with our client in ownership since 1997. In that time it has firmly established itself within the local community and with such a long and impressive trading history has a reputation second to none in this area.

LOCATION

Totton is a popular town in Hampshire. It is situated outside the eastern edge of the New Forest and on the River Test, close to the city of Southampton. Surrounding towns and villages include Ashurst, Marchwood, Cadnam and Ower. The area is well linked with the M271 and M27 along with plenty of local public transport links.

REASON FOR SALE

The business is only being offered for sale due to our clients other business and personal interests.

LEASE

The building is available on a competitive rent on a Full Repair and insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is 20 years with rent reviews every 5. The current lease began in 2008 at a cost of £184 per week.

BUILDING LAYOUT AND DESIGN

The business is housed within the ground floor of a large, double fronted retail unit. The glazed frontage includes large, bright signage and branding. Inside, the dining area is welcoming and well presented, offering 50 seats within the L-shaped layout. The space has traditional Chinese décor with beautiful wall art and a well-stocked and nicely presented bar to the rear of the area. In addition, the customer toilets, kitchen and food preparation area are positioned to the rear of the unit, with good quality fixtures, fittings and equipment in place. The business also benefits from three parking spaces directly outside and plenty of other local parking for customer use.
On the first floor of the building, is a large two-bedroom accommodation, there is scope to make this into three bedrooms if required.

STAFF

The business is family run currently, with no other members of staff in employment.

FINANCIAL DETAILS

Financial details are available upon a viewing of the business and the business has traded solidly over its trading history. Projected Annual Turnover (2019/20) £80,300. Projected Gross Profit (2019/20) £39,000. Most customers are from the local area as one would expect, with some additional trade from passers by and visitors to the area.

SUMMARY

This is an ideal opportunity to acquire a well-established Chinese restaurant in a busy trading position in the centre of Totton on the outskirts of Southampton with 2/3 bedroom accommodation and very agreeable overheads. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Property Information

Property:

Leasehold

Business Operation

Trading hours:

MON: 12:00 - 14:00 // 17:30 - 23:00
TUE: 12:00 - 14:00 // 17:30 - 23:00
WED: 12:00 - 14:00 // 17:30 - 23:00
THU: 12:00 - 14:00 // 17:30 - 23:00
FRI: 12:00 - 14:00 // 17:30 - 00:00
SAT: 12:00 - 14:00 // 17:30 - 00:00
SUN: CLOSED

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