Attractive Pub and Restaurant in East London For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, EAST LONDON

Turnover £ 7,000
Price £185,000

Features

Free House & Restaurant

OUTSIDE SEATING FOR 20 PEOPLE.

Licensed for 80 people.

PROMINENT DOUBLE FRONTED AIR CONDITIONED PREMISES, NEWLY REFURBISHED, CCTV (16 cameras). New carpeted floor, suspended ceiling with LED lighting.

Well equipped BAR with stalls - 13 beer pumps, 2 touch screen cash registers, 10 under counter fridges, freezer, glass washer, ice machine, wash hand basin.

Tables, chairs and sofa seating for customers.

Ladies cloakroom with toilet and wash hand basin
Gentleman's cloakroom with toilet and wash hand basin
Disabled cloakroom with toilet and wash hand basin

REAR CATERING KITCHEN - Stainless steel extractor, 2 x 8 burner hobs, oven, grill, bain marie, double basket deep fat fryer, microwave, large double door fridge, stainless steel preparation table, double sink and drainer, dish washer, etc

Walkin fridge.
Walkin freezer

Office

2 store rooms.

Stairs to cellar.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £6,000 p.w.- £8,000 p.w. with a Gross profit of 50% approx.

WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

Pool Table £250 per week approx.
Gaming machines £175 per week approx.

We are advised the kitchen is rented out on Sundays earning a further income of £350 p.w.

Staff

The business is at present operated by the 2 partners with 3 full time and 3 part time staff employed.

We are informed the wage bill averages £1,350p.w. approx.

Trading Hours

7 Day week
MONDAY, TUESDAY, WEDNESDAY 10 a.m. - Midnight
THURSDAY, FRIDAY, SATURDAY 10 a.m. - 1 a.m.
SUNDAY 10 am - Midnight

Accommodation

THE SELF CONTAINED ACCOMMODATION entrance via door to the rear of the shop to;

Studio flat located on the first floor with bedroom kitchen /diner and shower room (with shower, toilet and sink.),

We are advised the accommodation is at present let on a shorthold tenancy providing a rental income of £900 per month.

Outside

Dedicated parking for 3 vehicles to the rear.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in 2024 with reviews every 4 years (next review 2029) at a current rent of £34,000 p.a. + VAT

Business Rates from April 2024 £3,800 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2024, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £150,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 92,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote