R 3 800 000 | business property for sale in van ryneveld

Property Description

Beachfront restaurant which hangs over the water with large open seating area and breathtaking views of False Bay is for sale. This well-established business has been operating for over 20 years and is ready for a new owner with fresh ideas to take the reigns and to increase its existing clientele base. An existing rental agreement till 2021 can be taken over with a renewal period of an additional 5 years which we will negotiate with the owner prior to transfer going through. You can become the proud new owner of this successful business that includes a very well known Bistro with its loyal client base in one of the most fabulous settings in Cape Town. The sale of the business includes you taking over the 5 additional shops that face the seafront as well with you then recovering those rentals through existing tenants. Should you wish to not renew any of the leases, it would enable you to increase your restaurant capacity substantially or to open another business of your choice in those spaces. For sale at R2.7 million. (Financial reports are available to serious buyers on request). There is a relatively small revolving credit facility and a small overdraft that comes with the sale. You will be purchasing a CC and taking over the members interests plus there is an accessed loss that you will be getting transferred to you as well which is worth quite a lot when it comes to taxes saved by having a fairly big portion of profit being tax free.