Lorenzo of Crystal Palace, 73 Westow Hill, London, SE19 1TX

Lorenzo has stood its ground since 1985 and has been increasing in popularity over those 38 years. The original idea was to bring the flavours of Naples, Southern Italy, to the London demographic. Good, fresh and full of flavour, the style of cooking is popular because of its simplicity, remaining faithful to the original recipes that have given ‘Lorenzo’ a loyal, cult following over the past three decades. The main focus is, and has always been, classic pizza and pasta dishes but over the years the evolution of the menu gave rise to a range of fantastic chicken, meat and fish dishes as well as some very creative vegetarian options that essentially puts the restaurant in the category of ‘suitable for all’. Lorenzo is an eclectic restaurant and prides itself on being able to cater for everybody – from cash-strapped students out for a cheerful supper to families and professionals, young and old looking for more – there is fantastic food, and value, for everyone on the ‘Lorenzo’ menu.

Lorenzo of Crystal Palace is situated on Westow Hill, one of the three roads that forms the 'Crystal Palace Triangle', at one of the highest points in central London. The triangle is the hub of the community formed by the one-way system of Church Road, Westow Hill and Westow Street and is lined with pubs, restaurants and independent shops. The Crystal Palace park, which hosted the glass palace that gave the area its name, is only a short walk away. The restaurant is on the A421, within walking distance of Crystal Palace station and on route of serveral local bus services.

Ground Floor - Dining room seating for up to 30 people. The ground floor includes the restaurants open kitchen at the rear.
Basement - Downstairs dining room seating up to 40 people. This area includes private bar and wc.
Capri - First floor dining room seating up to 30 people. This area includes a private bar, wc and covered roof terrace for al fresco drinks and cocktails.
2nd Floor - Features 2 bedrooms, a kitchen and bathroom.
3rd Floor - Features 2 large double bedrooms, one with a view of the London skyline.

All trade fixtures and fittings in the property are included in the sale with some minor exceptions which will be discussed at viewings.

The business is currently operated by the freehold owner of the property who's only reason for leaving is retirement. They now seek an experienced operator with a strong understanding of the local area. The restaurant has had a large local following for 38 years, and is much loved by the local community, as it is by local businesses. This is a successful and established business occupying an optimum position on the bustling high street with the property capable as operating under a branded chain or as an independent operation. There is further opportunity to attract day time customers by opening earlier, permitted within the license. A commercially focussed operator will drive function room activity in the basement and 1st floor bars to attract the large local community surrounding the property.

The proposed purchaser will be required to offer continuity of employment in accordance with the Transfer of Undertakings (Protection of Employment) Regulations. Prospective purchasers should complete their own enquiries and due diligence to satisfy themselves as to the rights, contracts and obligations that may run with the Property and business, and also the registrations, licences, permits and certificates required to trade.

Trading information provided show that as of 31/03/2023, the business generated an annual turnover of over £500k net of VAT. 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.

The opening hours of the premises are as follows:

Monday and Tuesday Closed
Wednesday to Saturday 5pm - 10pm
Sunday 1pm - 8pm

Licensed opening hours:

11am to 12pm

The property is offered on a fully repairing and insuring lease for a term of 16 years. The landlord seeks offers for an annual rent in excess of £50,000 per annum, to be reviewed every 4 years. A 3 month rent deposit and personal guarantees from company directors will be sought by the landlord.

The VOA lists the property as a restaurant and premises with a rateable value of £20,000 from April 2023. The local authority is Lambeth Council.