Licensed Restaurant in North London For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, NORTH LONDON

Turnover £ 7,000
Price £70,000

Features

Licensed Indian Restaurant

6 DAYS OPENING

SINGLE FRONTED AIR CONDIIONED PREMISES WITH ELECTRIC SHUTTERS, Laminate flooring, suspended ceiling with spot and pendant lighting.

Tables and chairs seating 96 people.

Bar - Electric cash register, 4 draft beer pumps, under counter fridges, glass washer, wash hand basin, mirror backed shelving, etc.

Ladies cloakroom with toilet and wash hand basin.
Gentleman's cloakroom with toilet and wash hand basin.
Disabled cloakroom with toilet and wash hand basin.

Kitchen - Stainless steel extractor, 2 tandoor ovens, 8 burner hob, oven, 2 microwaves, plate warmer, chest freezer, upright freezer, under counter freezer, dishwasher, double sink and drainer, stainless steel prepartion tables.

Walkin cold room

Store room.

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 4 full time staff employed. We are informed the wage bill averages £2,000 p.w. approx.

Trading Hours

6 Day week
SUNDAY, TUESDAY, WEDNESDAY & THURSDAY 5 pm - 10.30pm
FRIDAY & SATURDAY 5pm - Midnight
CLOSED MONDAY

Local demand for lunchtime opening

Outside

Bin store.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in 2023 with reviews every 5 years (next review 2028) at a current rent of £55,000 p.a.

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

THE BUSINESS IS OFFERED FOR SALE SOLELY DUE TO THE VENDOR'S ILL HEALTH

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £70,000 incl STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 35,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote