Turkish Restaurant in North London For Sale

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

Turnover £ 12,000
Price £140,000

Features

Impressive Turkish & Middle Eastern Restaurant

4 STAR HYGIENE RATING

SINGLE FRONTED PREMISES in the region of 935 ft² WITH ELECTRIC SHUTTERS, tiled floor, suspended with spot lights, hot and cold display serveover counter, sales counter, cool display counter with refrigerated storage section, EPOS till, Coca-Cola fridge, Illuminated menu boards. Tables and chairs providing seating for 70 People.

Open plan kitchen area, stainless steel extractor unit, Chinese Cooker (6-burner), wash hand basin (separate), stainless steel preparation table, under counter fridge, charcoal grill, kebab machine, CCTV system (4 cameras, 1 monitor)..

Toilet with w.c. and wash hand basin..
Stock room.
Walkin coldroom.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,000 with a Gross profit of 65% approx. 10% of sales via portals

Staff

The business is at present operated by the vendor's wife with 3 full time staff & 1 part time staff.

Trading Hours

7 Day week
MONDAY - SUNDAY 12 noon - 10pm

Outside

Rear yard

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 2015 with reviews every 4 years (next review 2027) at a current rent of £20,000 p.a.

Business Rates from April 2024 £4,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2017, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £140,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 70,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote