Licensed Restaurant in South London For Sale

Occupying a corner position, prominent trading position, residential, office and commercial area, SW LONDON

Turnover £ 8,000
Price £175,000

Features

Licensed Bulgarian Restaurant

ZERO RENT PAYABLE
5 STAR HYGIENE RATING.

DOUBLE FRONTED PREMISES, vinyl floor, ceiling with spot lights & hanging LED lights, Air conditioning with hot air. Bar, EPOS till, 2 under counters drinks display fridge, ice maching, glass washer. Tables and chairs providing seating for 42 People.

Kitchen, stainless steel extractor unit, Unox convection Oven, 2 x freezer, Dough mixer, pizza oven (2-deck), 6 burner grill, 3 door saladbar, deep fryer (2 pan), deep fryer, Gas 5-burner Cooker, 3 induction hobs, 2 x stainless steel preparation table, 2 x dishwasher.

Walkin coldroom.

Toilet with w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 p.w. with a Gross profit of 65% approx. (£500 Online sale)

Staff

The business is at present operated by the vendor with 4 full time staff employed.

Trading Hours

7 Day week
MONDAY - THURSDAY 6pm - 11pm
FRIDAY - SUNDAY 11am - 11pm

Accommodation

THE SELF CONTAINED ACCOMMODATION with Gas Fired Central Heating, Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £3,000 per month . The accommodation comprises:

4 Bedrooms (3 double, 1 Single).
4 Shower rooms, w.c. and wash hand basin.
Kitchen.

Outside

Outside Toilet.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 16 years in 2015 with reviews every 4 years (next review 2027) at a current rent of £36,000 p.a.

(As will be appreciated with the rental income currently of £36,000 p.a. in respect of the self contained maisonette, there is in fact at the present zero rent to pay).

Business Rates from April 2024 £1,200 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £175,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 87,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote