Licensed Restaurant in Essex For Sale

Situated in a parade, excellent trading position, sought after ESSEX

Turnover £ 4,000
Price £99,500

Features

Well Established Licensed Indian Restaurant and Takeaway

5 STAR HYGIENE RATING

SINGLE FRONTED PREMISES, in the region of 1,150 ft², WITH ELECTRIC SHUTTERS, Tiled flooring, Suspended ceiling with spot lights.

Quality tables and chairs seating 70 people.

Bar, electric cash register. Under counter fridges, ice machine, wash hand basin, mirror backed shelving, glass washer.

Kitchen - Stainless steel extractor, 2 x 6 burner cookers, tandoori oven, combi oven, hot plate, microwave, freezer, uptight double door fridge, double sink and drainer, hand wash basin, stainless steel tables, etc.

Ladies cloakroom with toilet and wash hand basin.

Gentlemen's cloakroom with toilet and wash hand basin.

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 7 full time staff employed.

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

Trading Hours

7 Day week
MONDAY - SUNDAY 5 pm - 11.30 pm

Accommodation

THE SELF CONTAINED ACCOMMODATION entrance via door to the rear of the shop to Flat above, comprising;

First floor.

Fitted kitchen.

Bathroom with Bath, toilet and wash hand basin.

Dining room / Lounge

Double bedroom

Second Floor.

2 double bedrooms.

The accommodation is presently let on an assured short hold tenancy providing a rental income of £2,050 pcm.

Outside

Roof terrace.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 20 years in 2009 with reviews every 4 years (next review 2025) at a current rent of £31,000 p.a.

Business Rates from April 2024 £2,500 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2009 AND OFFERED FOR SALE DUE TO THE VENDOR'S SEMI-RETIREMENT.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, FIXTURES & FITTINGS £99,500
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 49,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote