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Reference R7838

Vietnamese Restaurant in Essex For Sale

Register to see map and to make an appointment Excellent trading position, ESSEX

Turnover 2,500
Price 40,000

Features

Fully Equipped Licensed Restaurant

Recently opened as Vietnamese cuisine, which could obviously be continued & in our opinion there is potential for other types of cuisine, if desired.

ATTRACTIVE SINGLE FRONTED RESTAURANT carpeted, ceiling lighting. BAR. Tables & chairs providing seating for 55 persons.

Fully tiled ladies' & gentlemen's cloakrooms

LEVEL KITCHEN with tiled floor, tiled walls, stainless steel extractor system, 5-burner Chinese cooker, 6-burner gas cooker with oven, 1 salamander grill, 1 2-door stainless steel counter fridge, 1 3-door stainless steel counter fridge, 1 chest deep freezer, 1 upright deep freezer, double sink & drainer etc.

Turnover

WE ARE INFORMED the turnover averages 2,500 p.w. in our opinion offering tremendous potential for further increase in the right hands.

Staff

At present mainly staff operated. 3 full time plus 5 part time staff employed.
It will be appreciated upon inspection that with an active husband & wife team, the wage bill could be reduced.

Trading Hours

Monday - Saturday inclusive - 11.30 a.m. - 4 p.m. & 5.30 p.m. - 9 p.m.
Sunday opening - 11.30 a.m. - 4 p.m. & 5.30 p.m. - 8 p.m.

Accommodation

The main accommodation comprises:

5 Double Bedrooms (1 with ensuite shower room with shower, w.c. & wash hand basin)
Additional bathroom with bath, w.c. & wash hand basin
Living room with kitchen area

We understand the accommodation is at present let on a room by room basis & provides a rental income of 100 per week per room.

In additon there is a STUDIO FLAT which we understand provides a further rental income of 600 per month providing a total rental income at the present time of approximately 31,200 p.a.

Tenure

We understand the entire premises are held on a secure renewable lease, the present lease having approximately 12 years unexpired at a current rental of 48,000 p.a. plus VAT exclusive of rates for the next 5 years with rent to be agreed thereafter. (As will be appreciated with the current rental income of 31,200 p.a. the net rental payable at the present time is only 16,800 p.a. exclusive of rates)

Uniform Business Rates: 13,000 p.a. approx.

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS 40,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 20,000 (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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