Licensed Restaurant in Stoke Newington For Sale

Occupying a corner position, excellent trading position, residential, office and commercial area, NORTH LONDON STOKE NEWINGTON

Turnover £ 11,000
Price £190,000

Features

Impressive Licensed Schnitzel Restaurant

OUTSIDE SEATING FOR 12 PERSONS

5 STAR HYGIENE RATING

6 DAYS OPENING

DOUBLE FRONTED PREMISES in the region of 785 ft² with ELECTRIC SHUTTERS & CANOPY. Tiled floor, ceiling with spotlights. Air conditioning with hot air. Tables and chairs providing seating for 20 persons. BAR, 2 fridges, EPOS till

Toilet with w.c. and wash hand basin

BASEMENT KITCHEN in the region of 370 ft² with dumb waiter. Stainless steel extractor unit, large grills, microwave ovens, 2 deep fryers, 2-pan deep fryer, 3 fridges, 2 freezers.

Staff toilet with w.c. and wash hand basin

Stockroom

Turnover

WE ARE INFORMED by the owner the turnover currently averages £11,000 p.w. with a gross profit of 70% approx. (40% DELIVERY). Accounts August 2022 show sales of £646,075 with a gross profit of £483,512.

Staff

The business is at present operated by the 2 partners with 2 full time & 4 part time staff.

Trading Hours

6 Day week
MONDAY - THURSDAY 5 p.m - 10 p.m
FRIDAY - SUNDAY 12 noon - 10 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 15 years in 2013 with reviews every 3 years (next review 2025) at a current rent of £28,000 p.a.

Business Rates from April 2023 £6,500 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2019 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £190,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 95,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote