Avenida 83-85 Bellegrove Road, Welling, Bexley, DA16 3PG • Busy location in central Welling, London • Substantial detached property • Ground floor restaurant (140) • Fully fitted trade kitchen • Long established and successful business • Would suit a range of cuisines Leasehold £130,000 Reference: 33748 01892 725 900 LOCATION Avenida is located in the busy London suburb of Welling, within the London Borough of Bexley. This up and coming area lies approximately 9 miles south-east of central London, 2 miles north of Bexleyheath and 2 miles south-east of Woolwich. The area is becoming increasingly popular with residents and wealthy individuals as well as young professionals priced out of the central London housing market. The area is a short drive from the south circular which provides access to south and south-west London, as well as north of the River Thames via the Woolwich Ferry and Blackwall Tunnel. The A2 is also a short distance away providing fast road connections into the city as well as the north Kent area (via the M2 and M25). Mainline railway services are available from Welling into Charing Cross, Cannon Street and London Victoria (via Denmark Hill). High speed cross rail services will also soon be available from nearby Abbey Wood. The area is serviced by a number of bus routes. Avenida occupies a substantial detached property situated along busy Bellegrove Road. This three-storey property is of brick construction under a pitched tiled roof, with flat roof extensions to the rear. PROPERTY GROUND FLOOR Entrance from Bellegrove Road into waiting area which provides seating for 10. This area in turn opens into an extensive OPEN PLAN RESTAURANT AREA which is presented with carpeted flooring, air-conditioning and a 'Mediterranean' motif. The restaurant also benefits from a dance floor and raised stage area and is serviced by a BAR SERVERY with glass machine and ice machine. The restaurant is licensed to provide seating for 140 covers. Leading to the rear of the trade space is access to the TRADE KITCHEN which is presented with tiled flooring, charcoal grill, double deep fat fryer, eight burner range cooker, bain marie, salamander, microwave, dishwasher, double stainless steel sink unit, stainless steel work surfaces, extractor, chest freezer, potato peeler and 'walk in' chiller. Also offset from the restaurant is access to MALE AND FEMALE WCS, as well as a STAFF ROOM. To the rear of the property there is a covered TRADE YARD which provides additional storage and houses two chest freezers. Furthermore, there is a further STORE with 'walk in' chiller and two chest freezers, as well as a separate WINE STORE. EXTERNAL To the rear of the property there is a GARDEN AREA which houses shed storage. THE BUSINESS Our clients have owned and operated Avenida for the past 44 years and now wish to sell their leasehold or freehold interest in order to retire. The premises currently operates as a 'Mediterranean' restaurant which is popular with their regular live music nights. It is our understanding that the business currently generates an annual net turnover in the region of £240,000 per annum. Further accounting detail will be made available to serious parties following a formal viewing. The property would suit a wide range of cuisines. TENURE LEASEHOLD £130,000 to include fixtures, fittings and goodwill. Stock at valuation in addition. The 'lock up' restaurant unit is available on a new fully repairing and insuring agreement as below:- For a length to be agreed. Inside Part II Landlord & Tenant Act 1954. Three month rental deposit in advance, plus personal guarantors if the lease were taken as a limited company, or alternatively a higher rental deposit figure between six and twelve months. A rent of £35,000. Rent paid quarterly in advance. Subject to rent reviews of a frequency to be agreed dependent on the length of term. Suitable insurance to be in place prior to exchange of contracts. An incoming party will be required to demonstrate sufficient funds to sustain their business model, and will need to demonstrate ingoing capital to cover the premium, rental deposit, stock, working capital and solicitors fees as a minimum. An incoming party will be required to demonstrate their business acumen by providing a business plan and cashflow forecast. No direct approach to be made to the business, with all communications directed through Sidney Phillips. Viewing strictly by appointment only. LICENCE A full Premises Licence is held permitting the sale of alcohol by retail: Monday - Saturday 10:00 - 02:00 Sunday 12:00 - 00:00. SERVICES All mains services are connected. Rateable Value £20,500 BUSINESS MORTGAGES – 01834 849795 We can help with arranging funding for your purchase of this or any other business. INNPLAN INSURANCE – 01432 378696 Immediate and competitive cover for your property, business and contents UTILITY HELPLINE – 01432 378690 Some of our clients have saved as much as 46% off their gas and electricity bills with our impartial price comparisons 01892 725 900 CONSUMER PROTECTION FOR UNFAIR TRADING REGULATIONS 2008 & BUSINESS PROTECTION FROM MISLEADING MARKETING REGULATIONS 2008 – These particulars are provided only as a general outline of [email protected] the property and buyers should make their own enquiries to satisfy themselves as to the accuracy of the information given. Neither we nor any person in our employment has authority to make, give or imply any representation or warranty regarding this property. Room sizes and other measurements and capacities quoted are estimates for rough guidance only. Accurate measurements have not been taken. Sidney Phillips Limited, Shepherds Meadow, Eaton Bishop. Hereford, HR2 9UA Registered in England and Wales: No. 2362635 www.sidneyphillips.co.uk .