Licensed Chinese Restaurant in Norfolk For Sale

Excellent trading position, arterial road from London entering NORFOLK

Turnover £ 7,500
Price £115,000

Features

Spacious Licensed Chinese Restaurant

Previously a Public House. Established now as a Licensed Chinese Restaurant which we understand has been trading for approximately 9 years & in our opinion offers terrific potential for development in the right hands.

Large car park for approximately 15 cars

PROMINENT PREMISES in the region of 1,600 ft², Tiled flooring, plasterboard ceiling with spot lights, CCTV (3 cameras).

Tables and chairs seating 60 customers (could be increased to 100 people.)

BAR - Electric cash register, under fridges, wash hand basin, etc.

Large area used for buffets.

Function room seating 20 / 30 customers.

Ladies cloakroom with toilets and wash hand basin.

Gentlemen's cloakroom with toilets and wash hand basin.

Kitchen - Stainless steel extractor, chinese hob (5 burner), oven, grill, rice cooker, microwave, bain marie (4 pot), heated cabinet, plate warmer, large double door fridge, 2 single door fridges, chest freezer, double door freezer, mincer, stainless steel preparation tables, ice maker, 2 x double sink and drainer, etc.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,500 p.w. with a Gross profit of 65% approx.

Staff

The business is at present operated by the vendor with 2 chefs and 3 further full time staff employed.

Trading Hours

7 Day week
MONDAY - SUNDAY 12 noon - 3 p.m. 5.30 p.m. - 10 p.m.

Accommodation

Stairs to the FIRST FLOOR;

2 dry stores.

Large room with 3 chest freezers.

Walking freezer.

Walkin fridge.

Kitchenette / staff room.

With fire exit.

Stairs to SECOND FLOOR, LIVING ACCOMMODATION comprising;

3 Double bedrooms.

Shower room with shower cubicle, toilet and was hand basin.

Office with toilet and wash hand basin.

With a separate fire exit there is potential, subject to planning permission, to develop the first floor as additional accommodation, and potentially an H.M.O..

Outside

Car Park for 15 vehicles.

Tenure

WE ARE ADVISED the vendor is presently trading over at a current rent £16,800 p.a.

We are informed the landlord is prepared to grant, to an approved applicant a new 10 year lease with rent reviews every five years at rent to be agreed.

Business Rates from April 2025 £1,700 approx. after small business relief. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2017, AND NOW OFFERED FOR SALE SOLELY DUE TO OWNERSFAMILY COMMITMENTS

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £115,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 57,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote