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Profitable & Popular Tea Garden And Function Business For Sale

Fourways, Gauteng, South Africa
Asking Price:
R2,400,000
Sales Revenue:
R5,000,000
Cash Flow:
R100,000

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

The business focus is to host birthday parties, stork parties, kitchen teas & corporate functions and also operate as a tea garden during the day with a main menu that focuses on breakfasts and light meals with a good selection of salads, burgers and sandwiches.

The Secret Garden leases over 2000sqm of this ideal venue from COJ who are the owners of Norscot Manor which is only a stone’s throw from Monte Casino.

The business has grown tremendously in popularity and was recently featured on SABC3's The insider and highlighted as one of the hidden gems in JHB.
please copy the link if you would like to see more of their article.
https://theinsidersa.co.za/a-secret-tea-garden-in-the-heart-of-fourways-empowered-by-capitec/
Current ownership period: 6 years
Gross annual revenue: R4000000.00
Annual Nett Profit: R950000.00
Asset value R1800000.00
Business age: 23 years
Previous Ownership period:8 years
Reason for sale: Current owner would like to retire
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
**please note the property is not for sale**
Landlord: City of Johannesburg
Lease term: 12 Months MAX (pre-determined by City of Johannesburg)
Lease amount: R18500.00 per month
Size: approximately 2000sqm (could seat over 250 guests)
Liquor license: Yes Valid until:2022
Asking price R2 399 000.00 negotiable
(The price has been based on the consideration of the combined value of The tea gardens assets as of 1Feb 2021 = R1 800000.00 and the average monthly nett profit of R70-R80K x 12 months)


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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:

**Property is not for sale**
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 retiring

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:
R1,800,000
Inventory / Stock value:
R50,000
Website:
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