Licensed Restaurant in Essex For Sale

Situated in a parade, main road trading position, ESSEX

Turnover £ 4,750
Price £110,000

Features

Licensed Restaurant

Established as Indian cuisine, which can obviously be continued and in our opinion there is potential for other types of cuisine, if desired.

SPACIOUS SINGLE FRONTED RESTAURANT with laminated strip floor. Tables & chairs providing seating for 42 persons. BAR with 1 hand pump.

Fully tiled ladies' cloakroom with w.c. & wash hand basin
Gentlemen's cloakroom with w.c. & wash hand basin

LEVEL KITCHEN with tiled floor, tiled walls, stainless steel extractor, Tandoori oven, 9-burner gas cooker with oven, fridge, double sink & drainer etc.

Stockroom area with double door stainless steel fridge, deep freezer, ice cream deep freezer.

Turnover

WE ARE INFORMED the turnover currently averages £4,500 - £5,000 p.w. including takeaway & delivery, in our opinion offering further potential to increase in the right hands.

Staff

The restaurant is at present operated by the vendor. Staff employed kitchen area 1 chef 1 Tandoori chef, 1 cook. Restaurant area 2 waiters. The deliveries are undertaken by the owner.

Trading Hours

5 p.m. - 11 p.m. seven evenings per week

Accommodation

The accommodation in the form of a SELF CONTAINED MAISONETTE over DOUBLE GLAZED & with FULL GAS FIRED CENTRAL HEATING, is at present let on a shorthold tenancy & provides a rental income of £1,600 per month, however understand that vacant possession can be given on completion, if required. The FLAT comprises:

3 Bedrooms (1 double, 2 singles)
Bathroom with bath, w.c. & wash hand basin
Large Lounge
Kitchen with fitted units

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 2023 with reviews every 5 years (next review 2028) at a current rent of £27,000 p.a.

NIL Business Rates after full relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2005, AND NOW OFFERED FOR SALE SOLELY DUE TO OWNERS ILL HEALTH

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £110,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 55,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote