Contemporary Licensed Indian Restaurant in Covent Garden For Sale

Situated in a Parade, prominent trading position, renowned residential, office and commercial area, COVENT GARDEN, Central London.

Turnover £ 16,000
Price £260,000

Features

Contemporary Licensed Indian Café / Restaurant & Bar

Fully fitted out to high spec, with complete new kitchen and equipment, still under warranty until July 2025. Spent circa £600k for upscale fit out. Very High footfall, confidential sale

Tables and chairs for 12 people outside.

DOUBLE FRONTED AIR CONDITIONED PREMISES, in the region of 800 ft², CCTV (16 cameraqs) - Hardwood floor, suspended ceiling with spot lights.

Tables and chairs seating 64 people.

Bar - Stolls for 6 customers, sound system with amplifer, - Electronic cash register. Under counter fridges, glass washer, sink with draainer, ice machine, coffee machine (2 group), griner and knock out drawer, counter top fridger, ice crusher, feature suspended glass shelves, dumb waiter , etc

Stairs to Basement PREMISES in the region of 463 ft²,

3 Customer cloak rooms with toilet and wash hand basin

Staff cloakroom with toilet and wash hand basin

Office with secure store

KITCHEN with dumb waiter - Stainless steel extractor, 2 double basket deep fat fryers, 2 griddles, heated cupboard, Ten grid Eniox oven, 4 dual induction hobs, plate warmer with hot holding section, 3 salad top fridges, 4 under counter freezers, tripple door under counter fridge, 4 single door under counter fridges, freezer drawer, 3 upright freezers, ice machine, dishwasher, double sink and drainer, stainless steel preparation tables, food preperation sink, 2 hand wash basins, etc.

Walkin Fridge

Turnover

WE ARE INFORMED by the owner the turnover currently averages £13,000 p.w. - £15,000 p.w., with seasonal peaks and a Gross profit of 60% approx.

Staff

The business is at present operated by the vendor with 6 full time and 3 part time staff employed.

We are informed the wage bill averages £3,000 p.w. approx.

Trading Hours

MONDAY - THURSDAY 11 a.m. to 9 p.m.
FRIDAY & SATURDAY 11 a.m. to 10 p.m.
SUNDAY 11 a.m. to 8 p.m.

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 2020 with reviews every 5 years (next review 2025) at a current rent of £80,000 p.a. or 12% of turnover whichever is higher. The rent currently under review for 2025 is anticipated to be set at £95,000 p.a. or 12% of turnover, whichever is higher.

Business Rates from April 2024 £10,000 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2023, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £260,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 130,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote