Licensed Turkish Restaurant in Essex For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, Essex.

Turnover £ 9,000
Price £175,000

Features

Licensed Turkish Restaurant

5 STAR HYGIENE RATING
FORECOURT WITH SEATING FOR 12 PEOPLE

DOUBLE FRONTED PREMISES in the region of 1,400 ft² WITH ELECTRIC SHUTTERS & CONOPY, ceiling with spot and hanging lighting, cool display counter with refrigerated storage section, EPOS till, stainless steel extractor unit, 2 x kebab machine, charcoal grill, deep fryer (2 pan), hot plate. Tables and chairs providing seating for 40 People, tiled floor

Bar with EPOS till, 2 x drinks display fridge (glass fronted upright double-door), ice machine, glass washer.

Basement in the region of 685 ft² with:

Preparation room.

Walkin coldroom.

Walkin freezer..

Ladies' & gentlemen's Toilet with w.c. and wash hand basin..

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 - £10,000 p.w. with a Gross profit of 65% approx. (50% DELIVERIES)

Staff

The business is at present operated by the 2 partners with 3 full time, 1 part time staff & 1 driver.

Trading Hours

7 Day week
SUNDAY - THURDAY 12 noon - 1am
FRIDAY & SATURDAY 12 noon - 1am

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 2019 with reviews every 4 years (next review 2027) at a current rent of £28,500 p.a.

Business Rates from April 2024 £2,300 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2007, 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