Restaurant and Fast Food Restaurant in Finsbury East For Sale

Situated in a parade, excellent trading position, office & commercial area, approximately 2 minutes walk Old Street Station, CITY OF LONDON

Turnover £ 6,500
Price £120,000

Features

Lebanese Licensed Restaurant

3 STAR HYGIENE RATING

SINGLE FRONTED PREMISES in the region of 680 ft² with SHUTTERS. Tled floor, suspended ceiling with spotlights. Bar, EPOS till. Tables and chairs providing seating for 20 persons.

OPEN PLAN KITCHEN. Stainless steel extractor unit, grill, 6-burner gas cooker, cool display counter with refrigerated storage section, Coca-Cola fridge, 2-pan deep fryer, microwave.

BASEMENT in the region of 300 ft²

Preperation room with tables

Walk-in coldroom

Walk-in freezer

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

Turnover

WE ARE INFORMED by the owner the turnover currently averages £6,000/£7,000 p.w. with a gross profit of 65% approx. (£2,000 IN RESPECT OF DELIVERIES)

Staff

The business is at present operated by the manager with 3 full time staff employed.

Trading Hours

7 Day week
SUNDAY - THURSDAY - 11 a.m - 12 midnight
FRIday & SATURDAY - 11 a.m - 3 a.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 3 years (next review 2025) at a current rent of £26,500 p.a.

Business Rates from April 2022 £4,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £120,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 60,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote