Spacious Licenced Chinese Restaurant in Hertfordshire For Sale

Excellent main road trading position, close to town centre, HERTFORDSHIRE

Turnover £ 14,000
Price £199,500

Features

Spacious Old Established Licensed Chinese Restaurant, Takeaway & Delivery

Established by the present owners approx. 39 years ago as Chinese cuisine, this cuisine could obviously be continued, and in our opinion in view of the excellent trading position, there is potential for other types of cuisine if desired.

SPACIOUS RESTAURANT, recently refurbished, with stone tiled floor, ceiling lighting plus wall lighting. Tables and chairs providing seating for 60/70 persons. Long bar with marble top, 2 single door counter fridges, sink, glasswasher, computer system, mirror-backed shelving.

Fully tiled ladies cloakroom with w.c. and wash hand basin
Fully tiled gentlemen's cloakroom with urinal, w.c. and wash hand basin

Level kitchen with quarry tiled floor. The equipment includes 5-burner Chinese cooker, double basket deep fryer, oven, stainless steel tables, double sink and drainer, wash hand basin, walk-in coldroom, 1 domestic microwave oven.

Large storeroom
Staff w.c.
Laundry room with washing machine and tumble dryer

Turnover

WE ARE INFORMED the turnover averages £14,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Gross profit 65% approx.

Staff

The business is at present operated by the vendor's wife with the assistance in the Restaurant of 3 full time waiting staff plus 2 part time additional waiting staff at weekends. Kitchen area - 3 chefs plus 2 part time additional kitchen staff at weekends.

Trading Hours

12 noon - 2.30 p.m. & 5.30 p.m. - 10.30 p.m. seven days per week

Accommodation

The accommodation a SELF-CONTAINED FLAT above with entrance to the side comprises:

2 Double Bedrooms
1 shower Rooms with shower, w.c. and wash hand basin
Lounge
Fitted kitchen

Outside

Small yard

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 21 years full repairing and insuring lease at a rental of £40,000 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years.

Uniform Business Rates: £11,000 p.a. approx. + water rates (metered)

OUTSTANDING OPPORTUNITY TO ACQUIRE AN OLD ESTABLISHED LICENSED RESTAURANT IN THIS EXCELLENT TRADING POSITION AND WITH THE ADVANTAGE OF BEING CLOSE TO STANSTED AIRPORT.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £199,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 99,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote