Licensed Shisha Restaurant in East London For Sale

Excellent main road trading position, residential, office and commercial area, EAST LONDON.

Turnover £ 12,500
Price £399,950

Features

Contemporary Restaurant & Shisha Lounge with Late Night Liquor Licence (not Utilised)

Combined seating 128 people (44 in the Shisha Bar)

5 Star Hygiene rating.

Prestigious Air Conditioned Premises (in the region of 3,250 ft²) - CCTV (11 cameras), poreclain tiled flooring, suspended ceiling with spot lights, pendant and wall lights.

Luxurious Tables and Chairs seating 84 customers.

Bar area - Epos till, undercounter fridges, coffee machine (1 group), grinder, knock out drawer, wash hand basin, glass washer, ice machine, 2 undercounter freezers.

Ladies & Gentleman's cloakrooms with toilet and sink.

Disabled cloakroom with toilet and sink.

Separate kitchen - Non slip industrial flooring, suspended ceiling with concealed lighting.

Stainless steel extractor, 5 burner gas hob, single deep fat fryer, commercial oven, 2 tandoor ovens (gas and chasrcoal) Bratt pan, bain marie, microwave, fridges, freezers, stainless stell preparation tables, double sink and drainer, dishwasher, etc.

Walkin chiller.

Dry store room.

Office.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,500 p.w. with a Gross profit of 70% approx.

Staff

The business is at present operated by the vendor with 2 full time staff employed and the further assistance of 13 part time staff.

We are informed the wage bill averages £5,000p.w. approx.

Trading Hours

7 Day week
MONDAY - SATURDAY 5pm - Midnight
SUNDAY 1pm - Midnight

Outside

Covered area to the side used as a shisha lounge with Televisions and patio heaters.

Customer seating 44.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2018 with reviews every 5 years ( review due 2023, the Landlord has yet to impliment) at a current rent of £59,000 p.a. plus vat

Business Rates from April 2023 £5,000 approx. AFTER SMALL BUSINESS RELIEF.(Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE DECEMBER 2022, AND NOW OFFERED FOR SALE SOLELY DUE TO OWNERS ILL HEALTH

Price

TO INCLUDE THE LEASE, GOODWILL, FIXTURES & FITTINGS £399,950 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 199,975 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote