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Reference R4969

Indian & Bangladeshi Restaurant in Colchester For Sale

Register to see map and to make an appointment Situated in a parade, main road trading position, close to town centre, ESSEX COLCHESTER

Turnover 3,500
Price 39,500

Features

Well Established Licensed Indian & Bangladeshi Restaurant

GRADE II Listed Building

We understand the business has been established as Indian cuisine for approximately 30 years, which could obviously be continued and in our opinion there is potential for other types of cuisine, if desired.

SPACIOUS DOUBLE FRONTED RESTAURANT with woodstrip floor, ceiling lighting. Tables & chairs providing seating for 46 persons. BAR with 1 hand pump, display shelving, sink.

Fully tiled ladies' & gentlemen's cloakrooms each with w.c. & wash hand basin

FIRST FLOOR KITCHEN with dumb waiter to ground floor restaurant. The kitchen has a non-slip floor, stainless steel walls & is fully equipped including stainless steel extractor, Tandoori oven, 1 4-burner gas cooker with oven, 1 8-burner Chester cooker with oven, 1 small deep freezer, 2 upright fridges, 1 deep freezer etc.

Turnover

WE ARE INFORMED the turnover averages 3,500 p.w. in our opinion offering further potential to increase in the right hands.

Staff

The Restaurant is at present operated by the vendor with the assistance of 2 full time waiters plus 2 part time waiters at weekends. Kitchen area 3 full time staff. In addition there is a driver employed for deliveries.

Trading Hours

Monday - Thursday inclusive - 5.30 p.m. - 11 p.m.
Friday & Saturday - 5.30 p.m. - 11.30 p.m.
Sunday - 12 noon - 11 p.m.

Accommodation

Situated on the first floor are 2 bedrooms (1 double, 1 single) used by staff at present.

In addition small storeroom

On the ground floor there is a shower room with shower

Outside

Small yard at rear

Tenure

We understand the premises are held on a secure renewable lease, the present lease having 8 years unexpired from March, 2015 at a rental of 16,000 p.a. exclusive of rates up to March, 2015. (We understand the landlord has requested that the rental be increased to 18,000 p.a. exclusive of rates for the next 4 years, however we understand is still under negotiation between the landlord and tenant).

Uniform Business Rates: 3,800 p.a. approx.

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS 39,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 19,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

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