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Reference R7994

Indian Restaurant and Takeaway in East London For Sale

Indian Restaurant and Takeaway in East London For Sale

Register to see map and to make an appointment Situated in a parade, excellent trading position, E LONDON

Price 59,500

Features

Spacious well Established Licensed Restaurant

Established as Indian cuisine for many years which could obviously be continued & in our opinion there is potential for other cuisines, if desired.

SPACIOUS SINGLE FRONTED RESTAURANT with woodstrip floor, ceiling with inset spotlighting. 2 air conditioning units. Tables & chairs providing seating for 52 persons (can be increased). FRONT BAR with double door glass fronted counter fridge, hand pump, mirror-backed shelving, electronic cash register.

To the rear of the restaurant is a small preparation area for the preparation of coffees etc.

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

REAR KITCHEN with quarry tiled floor, tiled walls. The equipment includes 16 burner Chester cooker with ovens, Tandoori oven, extractor system, double sink & drainer.

Storeroom with 2 fridges, chest deep freezer, walk-in coldroom

Turnover

WE UNDERSTAND the restaurant enjoys a good turnover, full details of which will be discussed upon inspection.

Staff

At present operated by the vendor with the assistance of a manager. Kitchen area 1 chef, 1 Tandoori chef, 1 cook, 1 kitchen porter. In addition there is 1 delivery person employed during the week with an additional delivery person employed on Friday & Saturday.

Trading Hours

Evenings only - 5.30 p.m. - 11.30 p.m. seven days per week

Accommodation

The accommodation in the form of a SELF CONTAINED FLAT over at present let on a shorthold tenancy until August, 2018 & providing a rental income of 700 per month. The FLAT comprises:

1 large double bedroom (could be split into 2 bedrooms)
Shower room with shower, w.c. & wash hand basin
Lounge area
Kitchenette

First floor patio area

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 15 years full repairing and insuring lease at a rental of 22,500 p.a. exclusive of rates for the first 5 years with rent review at that time and thereafter every 5 years. (As will be appreciated with the current rental income of 8,400 p.a. in respect of the accommodation over, the net rental payable at the present time is only 14,100 p.a. exclusive of rates.

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

OUTSTANDING OPPORTUNITY TO ACQUIRE A SPACIOUS RESTAURANT IN THIS SOUGHT AFTER LOCALITY

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS 59,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 29,750 (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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