Licensed Italian Restaurant in Hertfordshire For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, HERTFORDSHIRE

Turnover £ 10,000
Price £195,000

Features

Well Fitted Licensed Italian Restaurant

SINGLE FRONTED PREMISES in the region of 2,350 ft². Woodstrip floor, suspended ceiling with spotlights. Air conditioning with hot air. Tables and chairs providing seating for 80 persons. Bar, EPOS till,

KITCHEN. Stainless steel extractor unit, 6-burner gas cooker, 4-burner gas cooker, microwave, stainless steel preparation table, 3 under-counter fridges, 3 freezers, commercial dishwasher.

Walk-in coldroom

First floor 700 ft² used for storage

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

Turnover

WE ARE INFORMED by the owner the turnover currently averages £10,000 p.w. with a gross profit of 65% approx. (85% eating in)

Staff

The business is at present operated under management with 4 full time chefs, 1 additional front of house plus the assistance of part time staff as required.

Trading Hours

7 Day week
MONDAY - FRIDAY - 12 noon - 3 p.m & 5 p.m - 10 p.m
SATURDAY & SUNDAY - 12 noon - 10 p.m

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 15 years in 2016 with reviews every 5 years (next review 2026) at a current rent of £40,000 p.a.

Business Rates from April 2022 £8,500 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2017 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £195,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 97,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote