Licensed Italian Restaurant in Finsbury Park For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, NORTH LONDON FINSBURY PARK

Turnover £ 5,000
Price £140,000

Features

Licensed Italian Restaurant

6 DAYS OPENING

5 STAR HYGIENE RATING

IMPRESSIVE & SPACIOUS SINGLE FRONTED RESTAURANT in the region of 820 ft² with ceramic tiled floor, attractive ceiling with part wood panels to ceiling plus wooden struts. Full Gas Fired Central Heating. Tables and chairs providing seating for 60 persons (can be increased to accommodate 80 persons if desired). Upright glass fronted stainless steel wine fridge. BAR with brick front, 2 group coffee machine plus coffee grinder (both on lease purchase).

OPEN PLAN COOKING AREA with brick front counter. The equipment includes stainless steel extractor unit, 2 deck pizza oven, 6-burner gas cooker with oven, 4-door stainless steel counter fridge, 1 chest deep freeze, 1 small deep freeze, 3-door stainless steel counter fridge with marble top plus refrigerated topping section, glass washer, ice machine, dishwasher etc.

Stockroom

Large ladies' cloakroom with w.c. and wash hand basin

Gentlemen's cloakroom with w.c. and wash hand basin

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,000 p.w. with a gross profit of 65% approx. (15% deliveries)

Staff

The business is at present operated by the vendor with the assistance of his wife on a part time basis plus 1 full time waiter.

Trading Hours

6 Day week
MONDAY, WEDNESDAY, THURSDAY, FRIDAY 6 pm - 11 p.m
SATURDAY & SUNDAY 12 p.m - 11 p.m
CLOSED TUESDAY

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 16 years in 2021 with reviews every 4 years (next review 2025) at a current rent of £20,000 p.a. plus VAT.

Business Rates from April 2021 £8,000 approx. payable (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2009 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £140,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 70,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote