High End Italian Restaurant In Croydon

Business Description

LOCATION
Situated in a prominent position on the High Street, between Whitgift Street and Laud Street, opposite Edridge Road under the flyover (A232) in Croydon town centre. Neighbouring occupiers include Domino’s Pizza, F45 Gym, Greggs, Sainsbury’s Local, Chicken Valley, Tops Pizza, Coughlans Bakery, Mail Boxes Etc. and Cake Box, together with a good vibrant mix of other independent and local traders. East and South Croydon mainline railway, tram and bus stations are all within walking distance, providing services to central London, Clapham, Brighton, Gatwick, Bedford, Wimbledon, Beckenham and East Grinstead. There are also buses serving the area located on the High Street.

BUSINESS
Large, high-end Italian restaurant fully fitted out to a high standard and staff-run. We understand that the premises currently has ‘E’ and Sui Generis use classes and is staff-run, with further potential for an owner-operator to develop.

TURNOVER
We are informed that the business takes £16,000 - £18,000 pwk @ 60% GP.

HOURS
12.00pm - 11.00pm Mon to Sat
12.00pm - 10.30pm Sun

PREMISES
Spacious premises of 325.61 sq/m (3,505 sq/ft) Fully fitted to trade with 120 covers plus further outside seating areas to the front of the restaurant. The restaurant includes a separate lounge cocktail bar and 3 private function/dining rooms. Parking space to the rear.

TENURE
A new 15-year lease is to be granted to the incoming tenant. Rent £60,000 PA (3 year reviews)

EPC RATING
TBA

BUSINESS RATES
We understand the rates are around £25,000 PA (Payable)

Property Information

Property:

Leasehold

Premises details:

Spacious premises of 325.61 sq/m (3,505 sq/ft) Fully fitted to trade with 120 covers plus further outside seating areas to the front of the restaurant. The restaurant includes a separate lounge cocktail bar and 3 private function/dining rooms. Parking space to rear.

Business Operation

Trading hours:

12.00pm - 11.00pm Mon to Sat 12.00pm - 10.30pm Sun

Other Information

Furniture / Fixtures value:

Undisclosed

Inventory / Stock value:

Undisclosed