Spacious Licensed Restaurant in Kent For Sale

Situated in a parade, sought after residential area KENT

Turnover £ 1,500
Price £70,000

Features

Spacious Licensed Restaurant

We understand trading as Indian cuisine for approximately 42 years. The restaurant has been in the same hands for the past 31 years & the vendor now wishes to retire.

As stated well established as Indian cuisine which could obviously be continued & in our opinion there is potential for other types of cuisine, if desired.

ATTRACTIVE SINGLE FRONTED RESTAURANT with front area with tiled floor with the main floor area being a woodstrip floor, ceiling with inset lighting. Air conditioning/heating unit. Tables & chairs providing seating for 50 persons (can be increased). BAR with 1 hand pump, sink & drainer, upright glass fronted wine cooler.

Ladies' & gentlemen's cloakrooms each with w.c. & wash hand basin

LEVEL KITCHEN with quarry tiled floor, tiled walls, stainless steel extractor, Tandoori oven, 2 8-burner gas cookers with ovens, 1 walk-in coldroom, 4 fridges, 1 deep freezer.

Turnover

WE ARE INFORMED the turnover averages £1,500 p.w. including takeaway & delivery, in our opinion offering tremendous potential for further development in the right hands.

Staff

At present operated by the vendor who is a chef with the assistance of 1 cook & 1 waiter.

Trading Hours

Monday - Saturday inclusive - evenings only - 5 p.m. - 10.30 p.m.
Sunday opening - 1 p.m. - 9.30 p.m.

Accommodation

The accommodation in the form of a SELF CONTAINED MAISONETTE over is at present let on a shorthold tenancy & provides a rental income of £1,600 per month, however we understand that vacant possession can be given on completion, if required. The MAISONETTE DOUBLE GLAZED & with FULL GAS FIRED CENTRAL HEATING, comprises:

4 Bedrooms (3 doubles, 1 single)
Bathroom with bath, w.c. & wash hand basin
Large Lounge
Kitchen

Outside

Yard at rear

Tenure

We understand the entire premises are held on a new 10 years lease from January, 2020 at a rental of £23,000 p.a. exclusive of rates up to January, 2025 increasing at that time to £25,000 p.a. exclusive of rates for the following 5 years. (As will be appreciated with the current rental income of £19,200 p.a. in respect of the maisonette, the net rental payable at the present time is only £5,800 p.a. exclusive of rates).

We are advised the lease contains a break clause the lease can be terminated by either the Tenant or the Landlord with 12 months notice. The present vendor has been in occupation for 31 years.

Uniform Business Rates: Nil payable at present after small business relief

AS STATED THE RESTAURANT HAS BEEN IN THE SAME HANDS FOR THE PAST 31 YEARS AND IS NOW SOLELY OFFERED FOR SALE DUE TO RETIREMENT

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £70,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 35,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote