Italian Restaurant in Hertfordshire For Sale

Occupying a corner position, busy road, residential area, near HERTFORDSHIRE

Turnover £ 7,000
Price £149,500

Features

Long Established Italian Restaurant

6 DAYS OPENING ~ 5 STAR HYGIENE RATING

SINGLE FRONTED PREMISES' in the region of 1,075 ft²' with byfold doors, Tiled flooring, Suspended ceiling with spotlight and pendant lighting.

Tables and chairs seating 70 people.

Bar. Electric cash register, coffee machine (2 group), grinder, under counter fridge, wash hand basin.

Kitchen - Stainless steel extractor, 2 deck Pizza Oven (electric), double door fridge, 2 single fridges, pizza topping fridge with drawers beneath, microwave, ice cream freezer, wash hand basin.

Rear Kitchen - Stainless steel extractor, 6 burner cooker, gas grill, twin table top deep fat fryer, microwave, salad fridge, pasta topping fridge, tripple door fridge with stainless steel work surface, stainless steel cladded walls, under counter freezer, double sink with drainer, glass washer,etc

Stairs to first floor, in the region of 375 ft²

Ladies Cloakroom - 2 cubicles, wash hand basin.

Gentlemans Cloakroom - 1 cubicle, 2 urinals and wash hand basin.

Preparation room with sink, 2 freezers, walkin fridge

Dry Store

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a Gross profit of 60% approx. which we fell would increse with the addition of alcohol.

Staff

The business is at present operated by the vendor with 4 full time and 4 part time staff employed.

We are informed the wage bill averages £2,000 p.w. approx.

Trading Hours

6 Day week
TUESDAY - FRIDAY 5 pm - 10 pm
SATURDAY - SUNDAY 1 pm - 10 pm
CLOSED MONDAY

It will be appreciated upon inspection that there is terrific potential for additional opening hours.

Outside

Double Garage - 3 chest freezers.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 20 years in 2023 with reviews every 5 years (next review 2028) at a current rent of £27,000 p.a.

Business Rates from April 2023 £4,000 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2011 AND OFFERED FOR SALE DUE TO THE VENDOR'S RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £149,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 74,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote