Licensed Chinese Restaurant in Sutton For Sale

Excellent main road trading position, densely populated residential & commercial area near SUTTON, SURREY

Turnover £ 14,000
Price £138,000

Features

Licensed Chinese Restaurant

6 DAYS OPENING

At present operated as Chinese cuisine, which could obviously be continued & in our opinion there is potential for other types of cuisine, if desired.

We understand the premises have a Full On Licence

Attractive paved front area with railings providing external seating area for up to approximately 16 persons.

DOUBLE FRONTED AIR CONDITIONED PREMISES in the region of 1,770 ft² (164.53 sq m) Tiled and laminate flooring, suspended ceiling with spotlights.

Tables and chairs seating 60 people.

Bar with EPOS cash register, under counter fridges glass washer, ice machine, wash hand basin.

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

OPEN PLAN KITCHEN - Stainless steel extractor - 9 burner chinese cooker, 2 double baset deep fat fryers, hot cupboard, 2 microwaves, 3 rice cookers, chest freezer, under counter fridge, stainless steel tables, double sink and drainer,

Walkin chiller

Store room with freezer, fridge,

Staff cloakroom with toilet and sink

Stairs to basement used for storage, fridge and freezer.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £14,000 p.w. with a Gross profit of 60% approx.

Staff

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

We are informed the wage bill averages £2,000 p.w. approx.

Trading Hours

6 Day week
TUESDAY - SATURDAY 12 noon - 3 p.m. 5 p.m. - 10 p.m.
SUNDAY 12 noon - 9.30 p.m.
CLOSED MONDAY

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 24 years in 2010 with reviews every 4 years (next review 2026) at a current rent of £36,500 p.a.

Business Rates from April 2024 £2,850 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021 & OFFERED FOR SALE SOLELY DUE TO THE VENDORS' OTHER BUSINESS INTERESTS

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £138,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 69,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote