Bed & Breakfast plus Restaurant in North London For Sale

Occupying a corner position, main road trading position, residential, office and commercial area, NW LONDON

Turnover £ 5,500
Price £350,000

Features

Licensed 12 Bedroomed Bed & Breakfast Hotel with Restaurant (restaurant Recently Closed)

4 STAR HYGIENE RATING

Single fronted restaurant premises, in the region of 1,500 ft²,- Laminate flooring, suspended ceiling with feature chandeliers and spot lights.

Customer waiting area.

Tables and chairs seating 40 people. (Could be increased to accommodate 80 customers)

Bar, touch screen cash register. Coffee machine (2 group), grinder, under counter fridges, freezer.

Open plan kitchen - Stainless steel extractor, Grill, double basket deep fat fryer, gas hob, oven, microwave, 2 kebab machines, pizza oven, display chillers, 3 freezers, dough mixer, dough roller, pizza topping station, double sink and drainer, stainless steel preparation tables, etc.

Unisex cloakroom with toilet and wash hand basin.


HOTEL ENTRANCE with private check in / check out.


Stairs to first floor . . . 6 bedrooms in total.

3 Large bedrooms with double and single bed (sleeping 3 people) all ensuite facilities including shower, toilet and wash hand basin.

1 Large bedroom with double and bunk beds (sleeping 4 people) ensuite including shower, toilet and wash hand basin.

2 Double bedrooms all including ensuite facilities including shower, toilet and wash hand basin.

Fully fitted laundry room - 2 washing machines, 1 tumble dryer, press.


Stairs to second floor . . . 6 bedrooms in total.

4 Large bedrooms with double and single bed (sleeping 3 people) all with ensuite facilities including shower, toilet and wash hand basin.

1 Double room with 2 single beds with ensuite facilities including shower, toilet and wash hand basin.

1 Double room with 6 single beds (sleeping 6 people) with ensuite facilities including shower, toilet and wash hand basin.

Store room

Turnover

WE ARE INFORMED by the owner the turnover, solely for the hotel, currently averages £5,000 p.w. - £6,000 p.w., all bookings received via booking.com Tremendous potential to increase by reopening the restaurant, and greater advertising.

Staff

The business is at present operated by the Husband & Wife team with the assistance of part time staff as required.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the HOTEL premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in 2024 with reviews every 4 years (next review 2028) at a current rent of £72,000 p.a.

ALSO WE ARE ADIVSED BY THE VENDOR that the RESTAURANT premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in 2024 with reviews every 4 years (next review 2028) at a current rent of £36,000 p.a.

Business Rates from April 2024 £6,000 approx. with hospitality relief (Please contact local
authority to confirm)





THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2019

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £350,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 175,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote