Licenced Indian Restaurant in Essex For Sale

Situated in a Parade, excellent main road trading position, residential and commercial area, Essex.

Turnover £ 7,000
Price £74,500

Features

Licensed Indian Restaurant and Takeaway

4 STAR HYGIENE RATING

DOUBLE FRONTED AIR CONDITIONED PREMISES, in the region of 600 ft², WITH ELECTRIC SHUTTERS, Tiled flooring, suspended ceiling with spotlights, cctv (4 cameras).

Customer waiting area.

Tables and chairs seating (comfortably) 46 customers.

BAR - Electric cash register, coffee machine, under counter fridged, draft beer pump, wash hand basin.

Ladies' cloakroom with toilet and wash hand basin.
Gentlemen's cloakroom with toilet and wash hand basin.

KITCHEN - Stainless steel extractor, 12 burner gas hob, tandoori oven, heated cabinet, double door fridge, wine chiller, 2 chest freezers, double sink and drainer, stainless steel preparation table, etc,

Storeroom

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a Gross profit of 60% approx.

Staff

The business is at present operated by the vendor with 5 full time and 2 part time staff.

Trading Hours

7 Day week
MONDAY - SUNDAY 5 pm to 11 pm

Scope and demand for lunchtime opening.

Outside

Garden.

Dedicated parking space.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2012 with reviews every 5 years (next review 2027) at a current rent of £16,500 p.a.

We are advised the Landlord will accept surrender of the existing lease and, to an approved applicant, grant a new 15 years lease with an initial rent of £18,000 p.a. and rent reviews every 5 years.

NIL Business Rates after full relief (Please contact local authority to confirm)

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £74,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 37,250 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote