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Established Take-out In Hout Bay For Sale

Cape Town - Southern Suburbs, Western Cape, South Africa
Asking Price:
R395,000 Inventory / Stock included
Sales Revenue:
R2,240,000
Cash Flow:
Available on request

Urgent Asset Sale. We kindly request all interested buyers to meticulously review the details provided in this listing. This is a remarkable opportunity, albeit not a going concern, and we encourage you to evaluate whether it aligns with your investment goals and expectations.

This is an exceptional opportunity to acquire a fully-equipped takeout restaurant in the picturesque town of Hout Bay. The business, which is currently not trading, is strategically located in a retail centre with ample parking and high visibility on a main road. The proximity to Llandudno also makes it ideal for e-hailing deliveries.

Currently set up as an Asian-themed takeout, the restaurant boasts a versatile and comprehensive range of equipment. This flexibility allows for an easy transformation into a different culinary concept, should the new owner desire a change.

Buyer Requirements: Prospective buyers should be prepared for an immediate takeover and must be cash-ready. The lease is valid until September 2025, but the landlord is open to negotiating a longer-term agreement.

Business Potential: Despite the current owner's decision to close the doors in early June 2024, due to operational and HR issues, there is no apparent reason why a dedicated new owner couldn't transform this business into a profitable venture in a short time. The core business is takeout but also features a small customer area that primarily serves as a waiting space but could potentially offer limited dine-in options inside and out.

Historical sales figures are available for review.

This business presents a unique opportunity for someone ready to invest their time and energy into its revival. The current owner's loss of interest is your gain. Don't miss out on this asset sale priced for a quick transaction.

The seller, an experienced entrepreneur and restauranteur, will provide training and assistance for new owner/s.

To streamline this transaction and ensure efficiency, we propose the following steps:

1. Prospective buyers must first conduct a physical tour of the business. This allows them to gain a firsthand understanding of the operations and potential of the enterprise.
2. Following the tour, a face-to-face meeting with both the Broker and Seller is mandatory. This meeting will take place on the business premises to maintain context and relevance.
3. During this meeting, key aspects of the transaction will be discussed. These include timelines, the financial structuring of the deal, and any additional information required for due diligence.

This approach ensures that all parties are well-informed and committed before proceeding with the due diligence process, thereby saving time and resources.

Property Information

Real Estate:

Lease

Lease Terms:

Lease agreement available on request. NDA will be required prior to disclosure.
Expires Sept 2025. Landlord is willing to enter into a longer lease.
The business occupied this premises in Oct 2022.

Leasehold Rent:

R194,400 per annum

Location:

Excellent location in a retail centre with ample parking, easy access and on a main road with excellent exposure.

Premises Details:

44m2. Fully equipped and fitted. Including an extractor system.

Size in square feet:
44sq m

Business Operation

Competition / Market:

There are not a lot of similarly themed restaurants in Hout Bay. That being said, the business can be changed into any type of take-out, due to the versatile equipment it is sold with.

Reasons for selling:

Refer to earlier statement.

Employees:
3
Years established:
2

Other Information

Support & training:

Will be provided by the seller.

Business closed / Asset sale:
Yes
Distressed:
This business is a turnaround opportunity.