£219,999
Restaurant for saleLambeth, United Kingdom SW9
Business
About this property
Business
Please quote reference B09360
Cogogo is delighted to bring to the market an established and well-regarded Eritrean restaurant located on the vibrant Brixton Road in South London.
The business has been successfully owned and operated by the current family since September 1996, with the restaurant itself trading for over four decades and enjoying a strong reputation within the local community and beyond.
Known for its authentic cuisine and cultural dining experience, the restaurant benefits from repeat custom, strong word-of-mouth referrals, and consistent trade.
The sale is prompted by a change of direction, presenting an excellent opportunity for a new owner to build on a proven and profitable concept in a sought-after London location.
Please note that the purchaser will not benefit from rental income from the adjoining units. Upon acquisition of the business through the agreed goodwill amount, the buyer will enter into a lease for both adjoining units at a combined annual rental of £50,000 (£25,000 per unit).
Early viewing is highly recommended.
Location
Situated on Brixton Road, the restaurant occupies a prominent position within a busy and diverse area of South London. The location benefits from strong footfall, excellent transport links, and proximity to residential and commercial hubs.
Premises
The business operates from two adjacent leasehold units, offering well-presented dining and kitchen facilities. The premises are suitably equipped for the current operation and maintained to a good standard.
Tenure
The business is offered on a leasehold basis. The current lease is for 10 years, with approximately 15 months remaining.
Hours
Trading hours are set by the owners and offer flexibility for future adjustment.
Staff
The restaurant is currently operated with the support of 2 staff members.
Financial Profile
We are advised that the business generates a turnover of £414,980 with an adjusted net profit of £61,078. Additional rental income is received from two adjoining units, each producing approximately £25,000 per annum. Business rates are nil.
Please quote reference B09360
Cogogo is delighted to bring to the market an established and well-regarded Eritrean restaurant located on the vibrant Brixton Road in South London.
The business has been successfully owned and operated by the current family since September 1996, with the restaurant itself trading for over four decades and enjoying a strong reputation within the local community and beyond.
Known for its authentic cuisine and cultural dining experience, the restaurant benefits from repeat custom, strong word-of-mouth referrals, and consistent trade.
The sale is prompted by a change of direction, presenting an excellent opportunity for a new owner to build on a proven and profitable concept in a sought-after London location.
Please note that the purchaser will not benefit from rental income from the adjoining units. Upon acquisition of the business through the agreed goodwill amount, the buyer will enter into a lease for both adjoining units at a combined annual rental of £50,000 (£25,000 per unit).
Early viewing is highly recommended.
Location
Situated on Brixton Road, the restaurant occupies a prominent position within a busy and diverse area of South London. The location benefits from strong footfall, excellent transport links, and proximity to residential and commercial hubs.
Premises
The business operates from two adjacent leasehold units, offering well-presented dining and kitchen facilities. The premises are suitably equipped for the current operation and maintained to a good standard.
Tenure
The business is offered on a leasehold basis. The current lease is for 10 years, with approximately 15 months remaining.
Hours
Trading hours are set by the owners and offer flexibility for future adjustment.
Staff
The restaurant is currently operated with the support of 2 staff members.
Financial Profile
We are advised that the business generates a turnover of £414,980 with an adjusted net profit of £61,078. Additional rental income is received from two adjoining units, each producing approximately £25,000 per annum. Business rates are nil.
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