Well Fitted Licensed Restaurant in Essex For Sale

Situated in a Parade, excellent High Street trading position, residential, office and commercial area, Essex.

Turnover £ 14,000
Price £295,000

Features

Well Fitted Licensed Restaurant

5 DAYS OPENING
NEWLY FITTED 2022
HYGIENE RATING 5 STAR.

1st Floor Private function room in the region of 245 ft² with additional seating for 20 people
Rear heated Covered rear Garden with Bar and seating for 40 people

DOUBLE FRONTED PREMISES in the region of 1,380 ft² with tiled floor, spot lights, hanging lights and LED lights. Bar with seating for 5 People, EPOS till, 5 high Tables with 10 seats, Tables and chairs providing seating for 25 People.

2 Toilet with w.c. and wash hand basin.

Open plan kitchen area, stainless steel extractor unit, Cooker (Gas 6-burner), 2 combi ovens, grill, deep fryer (2 pan), microwave, Dough mixer, blender, dishwasher, stainless steel preparation table, etc.

Walkin coldroom.
Stock room.
Staff room with Toilet

Turnover

WE ARE INFORMED by the owner the turnover currently averages £14,000 p.w. with a Gross profit of 65% approx. (£1,000 per week via portals)

Staff

The business is at present operated 3 full time & 7 part time staff.

Trading Hours

5 Day week (Licenced till 1am)
TUESDAY - SATURDAY 12 noon - 11pm

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2022 with reviews every 5 years (next review 2027) at a current rent of £29,000 p.a.

Business Rates from April 2025 £7,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2022, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £295,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 147,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote