Licensed Restaurant in Herefordshire For Sale

Situated in a parade, excellent trading position, office and commercial area, Hertfordshire.

Turnover £ 10,000
Price £169,500

Features

Licensed and well Established Mediterranean Restaurant

6 DAYS OPENING ~ 4 STAR HYGIENE RATING


Outside seating for 14 customers.

DOUBLE FRONTED PREMISES, in the region of 1,550 ft², Tield flooring, Plasterboard ceiling with chandeliers and wall lights.

Tables and chairs seating 68 people.

Bar - Electric cash register. Coffee machine (2 group) on lease, grinder on lease, undercounter fridges, ice machine.

Open plan kitchen - Stainless steel extractor, charcoal grill, oven, double basket deep fat fryer, electric pizza oven, 1 chest freezer, 1 upright freezer, 2 large upright fridges, 2 under counters fridges, dishwasher, ice machine, double sink and drainer, stainless steel preparation tables, dough mixer, mincer, etc

Preparation area.

Ladies cloakroom with toilet and wash hand basin

Gentleman's cloakroom with toilet and wash hand basin

Staff cloakroom with toilet and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £10,000 / £11,000 p.w. with a Gross profit of 65% approx. (Approx 10 % takeaway)

Staff

The business is at present operated by the Husband & Wife team with the assistance of 2 full time and 3 part time staff.

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

Trading Hours

6 Day week
TUESDAY - SATURDAY 12 noon - 10 pm
SUNDAY 12 noon - 8 pm
CLOSED MONDAY

Outside

Parking to rear for 2 cars.

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 2017 with reviews every 5 years (next review 2027) at a current rent of £27,000 p.a. plus vat

In addition we understand there is a Service charge of £3,000 p.a. approx.

Business Rates from April 2024 £3,118 approx. after hospitality and small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2017

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £169,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 84,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote