FinanceYou can borrow
£ 19,500 (lease)
£ 413,000 (freehold)
to purchase this business subject to status, with a house or additional
security you maybe able to borrow the full amount.
Situated in a parade, main road, trading position, densely populated residential area, LONDON, SE
Features
Old established as Malaysian & Chinese cuisine, which could obviously be continued, and in our opinion in view of the excellent main road trading position, there is potential for other types of cuisine, if desired.
Layby in front of parade
SPACIOUS SINGLE FRONTED RESTAURANT with laminated strip floor, ceiling lighting. 2 air conditioning/heating units. Mirrors to walls. Tables and chairs providing seating for 60 persons. Bar with mirror-backed shelving, sink, 2 small fridges, hotplate cupboard, upright glass fronted wine chiller.
Fully tiled ladies' cloakroom with 2 w.c's, wash hand basin
Gentlemen's cloakroom with w.c. urinal and wash hand basin
Large kitchen with quarry tiled floor, tiled walls. The equipment includes 1 7-burner Chinese cooker, 1 3-burner Chinese cooker, 4-burner gas cooker, double sink and drainer, 1 chest deep freeze, 1 upright stainless steel fridge etc.
Storeroom with 1 chest deep freeze, 1 upright fridge, 1 upright deep freeze
Staff cloakroom with w.c. and wash hand basin
Turnover
WE ARE INFORMED the turnover averages £3,500 p.w. in our opinion offering tremendous potential for further increase in the right hands. Gross profit 65% approx.
Staff
The Restaurant is at present operated by the vendor (who is a chef) together with the assistance of his wife plus 1 full time assistant chef, 1 part time kitchen help plus 1 part time restaurant area.
The SPACIOUS accommodation recently modernised and refurbished DOUBLE GLAZED and with FULL GAS FIRED CENTRAL HEATING is available on a shorthold tenancy as an optional extra at a rental of £1,200 per month. The accommodation comprises:
First Floor
Lounge
Dining Room/Fitted Kitchen
Utility Room
Double Bedroom
Cloakroom with w.c.
Second Floor
3 Double Bedrooms
Bathroom with bath, w.c. and wash hand basin (new suite)
Outside
Yard at rear with ample parking. 2 Garages
Tenure
The vendor is prepared to grant in respect of the Restaurant only (excluding the living accommodation) a new 15 years full repairing and insuring lease at a rental of £17,500 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years.
Uniform Business Rates: £1,300 p.a. approx. (after small business relief)
THIS OLD ESTABLISHED RESTAURANT HAS BEEN IN THE SAME HANDS FOR THE PAST 19½ YEARS AND THERE ARE GENUINE REASONS FOR SALE.
PERSONALLY INSPECTED AND HIGHLY RECOMMENDED
Price
TO INCLUDE THE NEW LEASE (in respect of the Restaurant premises only), GOODWILL, FIXTURES & FITTINGS £39,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
OR COMPLETE WITH THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £590,000 plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT
Viewing
Please call 020 8763 1777 for an appointment to view
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