Eastern European Restaurant in East London For Sale

Situated in a parade, excellent High Street trading position, residential, office and commercial area, E LONDON

Turnover £ 5,000
Price £150,000

Features

Licensed Lithuanian Restaurant

4 STAR HYGIENE RATING

SINGLE FRONTED PREMISES in the region of 700 ft² with ELECTRIC SHUTTERS & AWNING. Tiled flooring, pendant lighting. Air conditioning. Tables and chairs seating 36. BAR. Electric cash register, coffee machine, under-counter fridges, sink.

SEPARATE KITCHEN. Tube lighting, stainless steel extractor, double basket deep fat fryer, oven, 5 burner hob, microwave, 2 chest freezers, 4 under-counter fridges, 2 large upright fridges, stainless steel preparation table, double sink and drainer, meat grinder, milkshake machine, juicer, crepe machine

Ladies' cloakroom with toilet and sink
Gentlemen's cloakroom with toilet and sink

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,000 p.w. with a gross profit of 65% approx.

Staff

The business is at present operated by the vendor with 2 full time staff employed plus the assistance of 2 part time staff. We are informed the wage bill averages £800 p.w. approx.

Trading Hours

7 Day week
MONDAY - THURSDAY - 1 p.m - 10 p.m
FRIDAY & SATURAY - 11 a.m - 12 midnight
SUNDAY 11 a.m - 10 p.m

Accommodation

THE SELF CONTAINED ACCOMMODATION entrance via door to the rear of the shop to Flat above, comprises:

2 double bedrooms
Kitchen
Living room
Shower room with shower, toilet and sink

Outside

Balcony terrace.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 12 years in September 2023 with reviews every 4 years (next review 2027) at a current rent of £27,600 p.a.

Business Rates from April 2023 £600 approx. after small business relief (Please contact local authority to confirm)

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £150,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 75,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote