Chinese Restaurant in Milton Keynes For Sale

Situated in a Parade, prominent trading position, residential, office and commercial area, MILTON KEYNES, Buckinghamshire.

Turnover £ 10,000
Price £160,000 / £460,000

Features

Old Established Chinese Restaurant

6 DAYS OPENING
5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 1,520 ft² with carpeted (heavy duty) floor, ceiling with spot lights. Bar with 1 tap, cash register. Tables and chairs providing seating for 60 People, CCTV system (3 cameras, 1 monitor).

Kitchen with stainless steel extractor unit, Chinese Cooker (10-burner), Cooker (Gas 4-burner), 2 fridges, 2 freezers, 2 stainless steel preparation table, double sink and drainer.

Ladies' & gentlemen's Toilet with w.c. and wash hand basin.

Staff Toilet with w.c. and wash hand basin.

2 x Stock room.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £10,000 p.w. (30% takeaway) with a Gross profit of 65% approx. (NO ONLINE SALES)

Staff

The business is at present operated by the vendor with 5 full time & 1 part time staff.

Trading Hours

6 Day week
MONDAY - FRIDAY 5pm - 9pm
SATURDAY 5pm - 9.30pm

Outside

Parking space for 2 car.

Tenure

The vendor owns the Freehold and subject to satisfactory references are prepared to grant a new SECURE RENEWABLE 16 years full repairing and insuring lease with rent reviews every 4 years at a rent of £25,000 p.a. for the first 4 years.

Business Rates from April 2025 £3,500 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1992, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE NEW SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £160,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

OR TO INCLUDE THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £460,000 plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 80,000 (lease) £ 322,000 (freehold) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote