| Comments | This incredible Bakery has European flavour and much, much more, such as cannoli, tarts, cookies, cakes, other pastries, ice cream, breads, buns, and other specialty items. In addition, for lunch and snack customers there are other delectable foods and hot plate items available for eat in dining or take-out. The store also sells jarred homemade pasta sauces, plus other sundry items i.e. pickles etc., and shelves of specialty home cooking supplies. All equipment and baking tools are included, fully paid for, and in good condition. According to an external source, to install all such equipment in a premises of this size would cost approximately $600,000. All existing baking equipment and baking tools are fully paid for and included in the sale price. Vendor will provide pre-closing training for up to 2 weeks at no cost to the Buyer. The premises are currently leased at a total monthly rental of $8,072.28 including net rent at $21.00 per sq ft and TMI at $11.50 per sq ft annual up to June 30, 2023. It is understood (to be confirmed) that a 3 year extension of the lease is now in place at $22.00 per sq ft net plus TMI and HST. The Tenant is responsible to pay for all utilities directly to the utility supplier. Di Giovanni Bakery has been operating in the premises for 39 years. The location is in a well established commercial area with adjacent residential subdivisions. Expanding the menu to accomodate growing ethnicities in local population levels could be a great future step in increasing sales results. |
|---|