Business Summary

LOCATION/ PREMISES:
The business is located in the biggest shopping center in Hertfordshire which is visited by over 17
million customers each year. It was built as a rival to Brent Cross and opened in 1992.
The center contains a number of retailers, including John Lewis, BHS, Marks & Spencer, Zara, and
Next.
The business serves quality Italian coffees, Panini’s, cakes and sandwiches and a range of hot foods.
The premises are configured for 17 tables and 36 seats with an additional 5 bar stools and 8 seats and 2 tables outside for those that prefer drinking their coffee al fresco.
The spacious premises measure in the region of 850sq ft and are attractively presented with
wooden flooring, spotlights and traditional Italian themed pictures on the walls.
To the rear of the main seating and prep area is a fully fitted commercial kitchen plus WC and
washroom. There is a rear door which leads down to the service area for deliveries.

BUSINESS
Established since May 2009 the business currently trades as an independent Italian Coffee Shop
that brings the warmth and flavors of Italy to Watford. The current vendors spent around £90,000 converting the premises from scratch. Included in the sale is a full compliment of commercial
kitchen equipment including one Astoria Coffee Machine CMA 3 group semi automatic, one 3 meter stainless steel counter, two refrigerated serve over counters, double oven, freezers and fridges,
Panini grill etc.

In addition there are 2 Carrier Air con units (condensers), full ventilation system to outside wall, and 300 amps power supply on 3 phases.
The business has an A1 license.

TRADING HOUR
Monday - Friday 8am - 6pm Sunday 10.am 5pm

Turnover
Latest accounts (30 Sept 2012) support a turnover of £159,852 per annum, with a GP of £109,803

STAFF
In addition to the two partners the business employs one full time assistant.

TENURE
We are advised that the property is currently held on a ten year lease which was granted in May 2009 with a rental of £30,000 per annum.
Business Rates are currently £15,000 P/A.

REASON FOR SALE.
A family bereavement has prompted this reluctant sale. This is not a distressed sale and business
remains buoyant.

COMMENT S/ POTENTIAL
This is a solid, established business suitable for a working owner, existing chef or couple. Potential exists to extend the opening hours. A new owner could continue the business as it is now or may prefer to extend the range of hot foods on offer.
The vendor is happy to provide full handover support.

PRICE
The Vendor is seeking offers of £60,000 to include lease,location,fixtures and fittings and Goodwill.

Property Details