Chinese Street Food Restaurant in Clerkenwell For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, FARRINGDON, LONDON, EC1M

Turnover £ 8,000
Price £95,000

Features

Chinese Street Food Restaurant

4 STAR HYGIENE RATING
REAR YARD WITH SEATING FOR 8 PEOPLE

SINGLE FRONTED PREMISES in the region of 420 ft² WITH ELECTRIC SHUTTERS, tiled floor, hanging lights, Air conditioning with hot air, sales counter, EPOS till, Tables and chairs providing seating for 24 People.

Basement Kitchen in the region of 240 ft² with stainless steel extractor unit, Cooker (Gas 8-burner), 3 freezers, 3 fridges, commercial microwave, deep fryer (2 pan), preparation tables.

Toilet with w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 p.w. with a Gross profit of 65% approx. (£2,000 via portals)

Scope to increase with the introduction of alcohol sales.

Staff

The business is at present operated by the vendor with 4 full time staff employed.

Trading Hours

7 Day week (Benefitting from FRIDAY & SATURDAY 1 am TAKEAWAY LICENCE)
MONDAY - SUNDAY 12noon - 2.30pm then 5pm - 10pm.
We are advised there is demand for increased hours.

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 2021 with reviews every 5 years (next review 2031) at a current rent of £31,000 p.a.

Business Rates from April 2025 £3,600 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDOR'S RELOCATING.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £95,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 47,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote