Attractive Restaurant in Surrey For Sale

Situated in a parade, excellent trading position, sought after REIGATE, SURREY

Turnover £ 7,000
Price £120,000

Features

Attractive & Spacious Licensed High Street Restaurant

Newly fitted 2020 to a high standard

STREET PARKING - FREE IN THE EVENINGS & RESTRICTED TO 1 HOUR DURING THE DAYTIME

6 DAYS OPENING

SPACIOUS RESTAURANT in the region of 1,280 ft² with woodstrip floor, ceiling with spotlighting plus hanging lighting. 2 air conditioning units. Tables & chairs plus upholstered benches providing seating for 50 persons (can be increased to accommodate 60 persons). BAR with double door glass fronted counter fridge, sink. CCTV system (4 cameras, 1 monitor).

REAR WAITERS SECTION with coffee machine, Glass washer, Ice maker

Small store area, fridge

Disabled cloakroom with w.c. & wash hand basin

3 Cloakrooms each with w.c. & wash hand basin

LARGE KITCHEN. Non-slip floor. Well equipped including Tandooi oven, 11 burner gas cooker with 2 ovens, 1 commercial microwave oven, 1 stainless steel fridge, 3 additional fridge, 3 chest deep freezers, double sink & drainer, wash hand basin, dishwasher etc.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a gross profit of 65% approx. (20% DELIVERY)

Staff

The business is at present operated by 4 full time staff plus 1 driver.

Trading Hours

6 Day week
TUESDAY - SATURDAY 12 noon - 2.30 p.m & 5.30 p.m - 10.30 p.m
SUNDAY 12 noon - 2.30 p.m then 6 p.m - 10.00 p.m

Accommodation

THE ACCOMMODATION with Gas Fired Central Heating, at present used by staff. Could be let to provide a rental income of £1,500 per calendar month. The accommodation comprises:

3 Bedrooms (2 double, 1 single)
Lounge
Bathroom with bath, w.c. and wash hand basin

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (granted within the 1954 Landlord & Tenant Act) from a private landlord, granted for 25 years in 2007 with reviews every 5 years (next review June 2027) at a current rent of £42,000 p.a.

The Landlord requires a 6 months rent deposit. Rent is paid quarterly in advance. The Purchaser is to be responsible for the Landlord's costs (50%) will be refunded by the Vendor on completion.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2020 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

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