Attractive Licensed Restaurant in Essex For Sale

Detached property, excellent main road trading position, residential, office and commercial area, Essex.

Turnover £ 15,000
Price £250,000

Features

Well Fitted Licensed Restaurant

FORECOURT WITH SEATING
5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 2,050 ft², tiled floor, ceiling with spot and hanging lighting. Bar with 2 taps, drinks fridges, EPOS till, Tables and chairs providing seating for 80 People, CCTV system (15 cameras, 1 monitor), Air conditioning with hot air.

Open plan kitchen area, stainless steel extractor unit, Cooker (Gas 8-burner), charcoal grill (3 burner), stake grill, Oven, fridges, freezers, microwave, stainless steel preparation table, dishwasher (commercial), double sink and drainer.

Walkin coldroom.

Stock room

Large Loft.

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

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

Turnover

WE ARE INFORMED by the owner the turnover currently averages £15,000 p.w. with a Gross profit of 65% approx. (NO DELIVERIES)

Staff

The business is at present operated by the vendor with 6 full time staff employed.

Trading Hours

7 Day week
SUNDAY - THURDAY 12 noon - 10pm
FRIDAY & 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 25 years in 2014 with reviews every 5 years (next review 2029) at a current rent of £32,520 p.a. + VAT

Business Rates from April 2024 £4,500 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £250,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 125,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote