938 – Restaurant & Tea House - OFF MARKET
This is a well-known, award-winning and established tea house/restaurant in a very upscale area in the SW. Owners are ready to retire for health issues and need to sell quickly. Couldn’t be replaced for the asking price. Concept can be changed. DON’T MISS THIS UNBELIEVABLE OPPORTUNITY TO BUY A BUSINESS IN ONE OF THE BEST LOCATIONS IN THE SOUTH!
This opportunity will not last long – contact Chris to arrange a showing ASAP!
Gross sales: $600,000 (approx.. $50,000 per month)
Size in sq. ft.: 2,337 sq. ft.
No. of Seats: Licensed for 102; actual 70
Number of parking stalls: Lots of parking in shopping centre lot; 2 reserved stalls at the back for management
Style of cuisine: Casual dining; variety of breakfast dishes. Lunches we switch to quiche; soups; salad; sandwiches. The feature is afternoon High Tea – best in the City and possibly the country! Wide array of pies and homemade desserts!!
Customer Demographics: Wide range of ages; seniors, couples, special events such as bridal showers, anniversaries, receptions and catering; lots of women’s lunches
Type of service: Table
Hours of operation: 10 am – 5 pm except Sunday 10 am – 4 pm
Number of employees: 19; mostly part-time
Rate per sq. ft.: $12,414 per month for rent, CAM and GST
C.A.M.: Included in above monthly amount
Lease Term: Renewal in 2018
Option Periods: One 5-year option
Deposit held by Lessor: One month's basic rent
Financing: Treat as clear title