Licensed Indian Restaurant in Hertfordshire For Sale

Excellent trading position, residential area, HERTFORDSHIRE

Turnover £ 7,000
Price £90,000

Features

Licensed Indian Restaurant

GRADE II LISTED BUILDING

5 STAR HYGIENE RATING

WELL PRESENTED PREMISES with wood strip floor, ceiling with spotlights. Air conditioning with hot air. Tables and chairs providing seating for 70 persons.
BAR with draft beers, EPOS till, glass fronted double door drinks display fridge.

KITCHEN. Stainless steel extractor unit, Tandoori oven, 12-burner gas cooker, 4 fridge/freezers, 2 microwaves, hot cupboard, deep fryer, double sink and drainer.

Ladies' & gentlemen's toilet with w.c. and wash hand basin

Basement, used for storage purposes, 2 fridges

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000/£8,000 p.w. with a gross profit of 65% approx. (50% delivery)

Staff

The business is at present operated by the vendor with 7 full time, 1 part time staff plus 2 drivers

Trading Hours

7 Day week
MONDAY - SATURDAY 5 p.m - 11 p.m
SUNDAY 5 p.m - 10 p.m

Accommodation

THE ACCOMMODATION with Gas Fired Central Heating, at present let on a shorthold tenancy providing a rental income of £1,000 per month. The accommodation comprises:

4 Bedrooms (3 doubles, 1 single)
Bathroom with bath, w.c. and wash hand basin
Lounge

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 20 years in 2018 with reviews every 5 years (next review 2028) at a current rent of £22,000 p.a. plus VAT. (As will be appreciated with the current rent of £12,000 p.a. from the flat, the net rental payable at the present time is only £10,000 p.a).

Business Rates from April 2023 £1,700 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2018 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £90,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 45,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote