Vegan Restaurant in Edgware For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, MIDDLESEX EDGWARE

Turnover £ 7,000
Price £175,000

Features

Vegan Restaurant

6 DAYS OPENING.

SINGLE FRONTED PREMISES in the region of 1,265 ft² with ELECTRIC SHUTTERS. Tiled floor, suspended ceiling with spotlights. Air conditioning with hot air. Bar area with cash register Tables and chairs providing seating for 50 persons.

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

KITCHEN. Stainless steel extractor unit, fridge, under counter fridge, Wok, 4-burner gas cooker, steamer, microwave, double sink and drainer, sink, preparation table, deep fryer, etc.

Stock room, 2 deep freezers

Walk-in coldroom

Office

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a Gross profit of 65% approx. (£1,200 per week on delivery, £1,500 in respect of collections). In our opinion the business offers tremendous potential to increase, expecially with the introduction of the sale of wines, beers & spirits, subject to obtaining the necessary premises and personal licence.

Staff

The business is at present operated by the vendor with 2 full time & 2 part time staff plus 1 delivery driver.

Trading Hours

6 Day week
CLOSED TUESDAY
MONDAY, WEDNESDAY & THURSDAY 4 p.m - 10.30 p.m
FRIDAY, SATURDAY & SUNDAY 12 noon - 10.30 p.m

Accommodation

The accommodation in the form of 2 SELF CONTAINED FLATS:

FLAT 1
Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £1,700 per month, comprises:

2 Bedrooms (1 double, 1 single)
Lounge
Kitchen
Bathroom with bath, w.c. and wash hand basin

FLAT 2.
Double-glazed windows at present used by staff., comprises:

2 Bedrooms (1 double, 1 single)
Lounge
Kitchen
Bathroom with bath, w.c. and wash hand basin

Outside

Parking space for 2 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 16 years in 2008 with reviews every 4 years (next review 2024) at a current rent of £35,000 p.a. plus VAT. (As will be appreciated with the current rental income of £20,400 p.a. from the flat, the net rental payable at the present time is only £14,600 p.a).

Business Rates from April 2022 £7,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2015 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £175,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 87,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote