 | City Centre Bar, Restaurant & Function Room For Sale Southampton, Hampshire, United Kingdom Advert ref: RS.0.220.DH Business description
The American Style Diner is busy throughout the day with the restaurant doing a wide range of meals for shoppers. The function room & bar is situated upstairs and also acts as an overflow when the restaurant is full.
Function room very popular but not yet fully utilised. Late licensing until 1.00am, currently under review for 2.00am.
Average turnover on functions £1200 per night with GP at approx. 70%
Employees: 4 x F/T and 1 x P/T. Bar staff as required for functions (2 x bar staff / 1 x door staff)
Trading hours: Mon-Fri & Sun – 8.00am – 4.00pm
Property: Leasehold
Lease terms
The Vendor advises that the current lease commenced in 2006, over 6 years, renewable. The current rent is £18,000pa
Location
Main Road located in the city centre of Southampton, next to major chains.
Close to main shopping streets, car parks and bus routes. Convenient for Southampton Central railway station, West Quay Retail Park and Southampton Football Club
Downstairs servery and seating for 40 with disabled toilet and kitchen to rear.
Upstairs seating for 60 with licence for 160, 20ft bar and cold cellar to rear. Male and female toilets.
Flat roof space to rear of upstairs that could be utilised with planning.
2 x allocated parking spaces to rear.
Expansion potential
· Growing function bookings with further potential.
· Opportunity for opening evenings for Restaurant.
· Superb City Centre location.
· Opportunity to utilise flat-roof space
· Excellent website developing function growth
Reasons for selling
Other Business Interests
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| | Financial details Asking price: £169,950
Sales revenue: £105,000
Net profit: < £100k
Furniture / Fixtures value: Undisclosed
Inventory / Stock value: Undisclosed |
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