Licensed Chinese Restaurant and Takeaway in Essex For Sale

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

Turnover £ 13,000
Price £225,000

Features

Licensed Chinese Restaurant

4 STAR HYGIENE RATING

SINGLE FRONTED AIR-CONDITIONED PREMISES, in the region of 1,700 ft² with CCTV, Tiled flooring, plasterboard ceiling with spot lights.

Tables and chairs seating 88 customers.

Bar with Cash register, under counter fridges, ice maker, wash hand basin.

SEPARATE KITCHEN - Stainless steel extractor, 5 burner chinese hob, 2 rice cookers, double basket deep fat fryer, bain marie, single door fridge, single door freezer, chest freezer, double sink and drainer, stainless steel preparation tables, etc.

Walkin fridge.

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

Disabled cloakroom with toilet and wash hand basin.


Staff toilet with wash hand basin.

Dry store to rear.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,000 p.w.- £14,000 p.w. with a Gross profit of 65% approx.

Staff

The business is at present operated by the vendor with 6 full time staff employed (3 kitchen and 3 front of house) and 3 part time staff including a (deliver driver).

Trading Hours

7 Day week
MONDAY - THURSDAY noon - 10.30 pm
FRIDAY & SATURDAY noon - 11 p.m.

Outside

2 dedicated parking spaces (cost £100 plus VAT for each )

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 25 years in 2023 with reviews every 5 years (next review 2028) at a current rent of £32,000 p.a. + VAT. In addition we understand there is a Service charge of £2,800 p.a. + VAT approx.

Business Rates from April 2025 £600 approx. after small businessr elief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2006, AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £225,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 112,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote