Licensed Restaurant in Tenterden For Sale

Excellent trading position, sought after KENT TENTERDEN

Turnover £ 10,000
Price £50,000

Features

Spacious Olde Worlde Licensed Restaurant Plus Takeaway Permission

The business has been in the same hands for the past 18 years & there are genuine reasons for sale.

The spacious property is a Grade II listed building & we understand built in approximately 1470's

SPACIOUS GROUND FLOOR with wealth of oak beams. 3 separate restaurant areas, fully carpeted & with wealth of oak beams, ceiling with spotlighting. Tables & chairs for a total of 72 persons.

Stairs to FIRST FLOOR ADDITIONAL RESTAURANT AREA ideal for functions or private parties, fully carpeted & with tables & chairs providing seating for 22 persons.

GROUND FLOOR REAR PREPARATION SECTION with cool display serveover counter, coffee machine, 2 filter coffee machines, under-counter milk fridge, 2 glass fronted counter fridges.

Ladies' cloakroom with w.c. & 2 wash hand basins
Gentlemen's cloakroom with w.c. & wash hand basin

LEVEL KITCHEN with non-slip floor. The equipment includes 1 6-burner gas cooker with double oven, griddle, 3 basket deep fryer, bain marie, hot cupboard, freestanding convection oven, 2 upright stainless steel fridges, 2 upright single door white deep freezers, 3 2-door stainless steel counter fridges.

WASH-UP AREA with dishwasher, single sink & drainer

Rear store area with 2 upright deep freezers, 1 ice cream deep freezer

Turnover

WE ARE INFORMED the turnover averages £10,000 p.w. in our opinion offering tremendous potential for further increase, especially with evening opening, if desired. We are further advised that the sales 1st September, 2021 to 31st August showed £380,088 gross profit 73.74%. Net profit £90,214.

Staff

The business is at present operated by the vendor on a part time basis with the assistance of his wife (4 days per week). Staff employed. Kitchen area 3 full time chefs, 2 part time cooks. Restaurant area 1 full time supervisor/manager, 4 full time waitresses plus 6/7 part time waitresses when required.

Trading Hours

Monday - Saturday inclusive - 9 a.m. - 5 p.m.
Sunday opening - 10 a.m. - 5 p.m.
In our opinion there is terrific potential for evening opening, if desired
We are advised the business has a Liquor Licence until 12 midnight, plus takeaway permission.

Accommodation

The SPACIOUS living accommodation with a wealth of oak beams, SECONDARY DOUBLE GLAZING & FULL GAS FIRED CENTRAL HEATING, is at present let on a shorthold tenancy & provides a rental income of £900 per month, however we understand that vacant possession can be given on completion, if required. The SPACIOUS accommodation comprises:

3 Double Bedrooms
Shower room with shower, w.c. & wash hand basin
Large Lounge with inglenook fireplace
Fully fitted kitchen

Tenure

We understand the entire premises are held on a secure renewable full repairing and insuring lease until 1st January, 2026, at a current rental of £82,000 p.a. exclusive of rates. We understand the landlord is prepared to discuss a new lease at rent and terms to be agreed.

We are advised the Landlord requires a 3 months rent deposit plus 3 months rent in advance plus personal guarantee.

Uniform Business Rates: £27,600 p.a. approx.

AS STATED THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 18 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £50,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 25,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote