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Landmark Function Venue And Tea Garden For Sale

Fourways, Gauteng, South Africa
Asking Price:
R2,400,000
Sales Revenue:
R3M - R8M
Cash Flow:
R100K - R500K

Set in the tranquil gardens of Norscot Manor in the heart of Fourways, The Secret Garden offers a quiet escape from the malls and roadside coffee shops. It is a great venue for a leisurely family breakfast or delicious afternoon tea.

The Secret Garden is also a ideal venue to host birthday parties, stork parties, kitchen teas & corporate functions with main menu that focuses on breakfasts and light meals with a good selection of salads, burgers and sandwiches.

The business for sale currently rents over 2000sqm of Norscot Manor which was built by the Eriksen Family in 1936 on a scale that few could afford today and is only a stones throw from Monte Casino.

Current ownership period: 6 years
Gross annual revenue 2019-2020: R3.7million
Annual Nett Profit 2019-2020: R950000.00
Business age: 23 years
Previous Ownership period:8 years

Operating hours: Tuesday and Thursday 9h30-16h00
Wednesday and Friday 10h30-17h00
Saturday and Sunday 8h30-17H00
Monday- closed
No of staff: 21
Business Address: 16B Penguin Avenue, Norscot Manor Recreation Centre, Fourways, Sandton, 2055
Landlord: City of Johannesburg
Lease term: 12 Months MAX (determined by City of Johannesburg)
Lease amount: R18500.00 per month
Size: approximately 2000sqm available
Liquor license: YES Valid until:2022
Website: secretteagarden.co.za
Asking price R2 399 000.00 negotiable
This price has been based on the combined value of The tea gardens assets and average monthly profit x 24 months
Estimated value of assets as of 1 June 2020 – R1 500000.00
Average monthly profit R60000.00 x 24 = R1 440 000.00


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Property Information

Real Estate:

Lease

Lease Terms:

12 month terms as per City of Johannesburg regulations.

Leasehold Rent:

R222,000 per annum

Living Accommodation:

N/A

Location:

16B Penguin Avenue, Norscot Manor Recreation Centre, Fourways, Sandton, 2055

Premises Details:

Landlord: City of Johannesburg
Lease term: 12 Months MAX (determined by City of Johannesburg)
Lease amount: R18500.00 per month
Utilities: Included in rental

Size in square feet:
2,000
Planning Consent:

N/A

Business Operation

Expansion Potential:

Yes, further area could be rented from COJ to expand.

Competition / Market:

N/A

Reasons for selling:

Owner Immigrating

Trading hours:

Tuesday to Sunday 9h30-17h00

Employees:
21
Years established:
23

Other Information

Support & training:

Yes, full hand over to be provided by the current owner.

Furniture / Fixtures value:
R1,500,000
Inventory / Stock value:
R100,000
Website:
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