Bermondsey Street, London, SE1

Location

The premises is situated in a prime sort after location, just 0.4 miles from London Bridge Station, within the bustling district of London Bridge and Tower Bridge, benefitting from high foot traffic all year round, with it’s diverse clientele of locals, tourists, and professionals. The large tourist trade comes from the many local hotels (c10 within 5min walk), several museums, art galleries, Bermondsey antiques market on weekends, and Maltbly street market. The premises is also situated between 2 parks and a tennis court, meaning especially in the warmer weather months, high levels of ice cream, smoothies and food-to-go is sold.

Tenure

7.5 years unexpired of a 15 year lease at a current rental of £30,000 per annum exclusive. The lease is a secure lease within the Landlord and Tenants Act.

Premises

A terrace retail shop with extending awning, glazed traditional frontage, single entrance leading into the premises which measures approximately 645 sq. ft. ground floor and 258 sq. ft. basement and is arranged as follows:



SHOP FRONT - equipped with 10m of (cold & ambient) product display space. Brand new coffee machine and grinder, drinks display fridge, ice cream display freezer, ice machine, under counter fridge, 2 till points and large air conditioning unit.



PRODUCTION AREA - Large professional oven with extractor filter hood, 2 panini grills saladette fridge, 2 microwaves, large stainless steel table for drinks with 2 blenders and milkshake mixer, utensil sink, under counter fridge and freezers, and ventilation

Kitchen

Main KITCHEN - Hygienic cladded kitchen equipped with under counter fridge, saladette fridge, upright fridge, food processor, electric stove, commercial dishwasher, double sink, 2 microwaves, bain marie, drying racks, lots of wall shelving, hand wash sink, separate utensil sink, ventilation and window.



REAR AREA - Cleaning closet and staff WC.



REAR STORE - equipped with 2 upright freezers, 3 fridges, hot cabinet, stainless steel work surface, hand wash sink and lots of shelving storage, 2 windows for ventilation.



OFFICES - equipped with 2 apple computers, 2 monitors, windows laptop, large all in colour laser printer, label printer, 2 office desks and office chair, lots of stationery, 2 office drawers, air conditioning, private management WC.



STAFF ROOM/MEETING ROOM - Table for 4, sofa benches all-round, 40" TV connected to 16 channel CCTV DVR.



BASEMENT STORE - equipped with 3 freezers, large hot water cylinder, lots of free standing shelves for dry storage.

Trading Hours

Mon 8 am - 4:30 pm, Tues - Thurs 8 am - 5 pm, Sat 9:30 am - 6:30 pm, Sun 10 am - 6 pm.

In the winter months the business trades until 4pm weekdays, 5pm weekends.

The business closes 1hr later on hot days to capitalise on ice cream sales.

The business also closes 2 weeks over Christmas and is generally closed bank holidays in Jan - Apr. Plus closed on Sundays from Jan - March.

We are advised these trading hours are not restricted, so can easily be extended which will increase the turnover greatly.

Staff

The business is run by the vendor on a part time basis with the assistance of 4 full time staff, and 2 occasional part time staff in the Summer months.

Turnover

Net turnover of approximately £8,000, £9,400 Gross per week, (considering closed days) working to an above average gross profit margin associated with the trade (approximately 76%). Full financial information can be disclosed to seriously interested applicants following a viewing of the business, and proof of finances.

Business Rates

The premises is subject to a rateable value of £18,000, paying approximately £2,245 per annum.

Legal Costs

Each party are to be responsible for their own, with the landlords legal cost to be split 50/50.

Inventory

A detailed inventory of fixtures and fittings will be prepared and supplied at the point of sale.

Finance

Finance and business loans are available from leading high street Banks with attractive finance options. We can arrange for you to speak to a national firm of Business Finance Brokers or alternatively put you in touch with major high street bank for a free under no obligation discussion or consultation.

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.