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Reference R1188

Restaurant with Investment Property in Essex For Sale

Restaurant with Investment Property in Essex For Sale
Restaurant with Investment Property in Essex For Sale Buy a Restaurant with Investment Property in Essex For Sale

Register to see map and to make an appointment Situated in a parade, excellent main road trading position, residential, office and commercial area, ILFORD, ESSEX

Turnover 6,500
Price 100,000

Features

First Floor Indian Restaurant and Bar Plus Ground Floor Investment

4 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES.

FIRST FLOOR BAR & RESTAURANT. Wood strip floor, suspended ceiling with spotlights & LED panels. Bar with carpet, EPOS till. Tables and chairs providing seating for 75 persons. CCTV system (9 cameras, 1 monitor).

KITCHEN. Stainless steel extractor unit. Tandoori oven, preparation table, microwave, 6-burner gas cooker, sink, 2 under-counter fridges, 2 under- counter freezers, large fridge freezer.

Ladies' & Gentleman's cloakrooms with w.c. and wash hand basin

Stock room

We understand the ground floor is currently let as a television repair shop providing a rental income for 20,000 p.a.

Turnover

WE ARE INFORMED by the owner the turnover currently averages 6,500 p.w. with a gross profit of 60% approx. (25% deliveries via Uber, etc)

Staff

The business is at present operated by a husband & wife team with the assitance of their son with 2 full time chefs plus 3 part time staff.

Trading Hours

7 Day week
MONDAY - FRIDAY 2 p.m - 11 p.m
SATURDAY & SUNDAY 12 noon- 11 p.m

Outside

Parking space for 4 cars.

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 2012 with reviews every 5 years (next review 2027) at a current rent of 33,950 p.a. plus VAT. (As will be appreciated with the current rental income of 20,000 p.a. for the ground floor, the net rental payable at the present time is 13,950 p.a. plus VAT).

Business Rates from April 2022 9,700 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1997 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS 100,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to 50,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

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