Licensed Restaurant in North London For Sale

Situated in a parade, main road trading position, residential and commercial area, NORTH LONDON

Turnover £ 8,000
Price £120,000

Features

Old Established Licensed Restaurant

5 DAYS OPENING ~ 5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 800 ft² with tiled floor, ceiling with hanging lights, sales counter, 2 glass fronted fridge, EPOS till, Tables and chairs providing seating for 30 People.

Kitchen stainless steel extractor unit, Cooker (Gas 8-burner), 4 fridge, 3 stainless steel preparation table, microwave, grill, charcoal grill, freezer.

Walkin coldroom.
Ladies' & gentlemen's Toilet with w.c. and wash hand basin..
Stock room.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 p.w. with a Gross profit of 65% approx.

Staff

The business is at present operated by the 2 partners with 4 full time staff employed. with the assistance of 2 part time staff.

Trading Hours

5 Day week
TUESDAY - FRIDAY 6pm - 10pm
SATURDAY 12.30pm - 3.30pm then 5pm - 10pm

Alcohol Licence : Mon -Sat :11.00 till 00.00 & Sun 11.00 till 23.00

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 16 years in 2011 with reviews every 4 years (next review 2027) at a current rent of £30,000 p.a.

We understand subject to references that the Landlord is happy to grant new, longer lease at terms to be agreed.

Business Rates from April 2023 £5,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2015, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £120,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 60,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote