Mediterranean Turkish Restaurant in Islington For Sale

Excellent trading position, ISLINGTON, LONDON, N1

Turnover £ 17,000
Price £400,000

Features

Attractive well Fitted Licensed Restaurant

At present Turkish & Mediterranean cuisine

Front area with space for 4 tables & 8 chairs (We understand a Licence Fee of £800 p.a. is payable)

ATTRACTIVE DOUBLE FRONTED RESTAURANT with woodstrip floor, exposed brickwork to walls, ceiling with spotlighting plus hanging lighting. 2 air conditioning/heating units. Seating 40. BAR SERVERY. The equipment includes 2 group coffee machine, coffee grinder.

OPEN PLAN KITCHEN AREA, stainless steel extractor plus stainless steel cladding to walls, 6-burner gas cooker with oven, double deep fryer, 4 double door stainless steel counter fridges, 2 sinks.

Ladies'/disabled cloakroom with w.c. & wash hand basin
Gentlemen's cloakroom with w.c. & wash hand basin

Stairs to BASEMENT. LARGE KITCHEN/PREPARATION ROOM. 2 walk-in coldrooms, 1 chest deep freezer, double sink

Turnover

WE UNDERSTAND the restaurant commenced trading as Turkish/Mediterranean cuisine approximately 1 year ago & we are informed the turnover currently is in the region of £17,000 p.w.

Staff

The restaurant is at present operated by the vendor with the assistance of her husband (who is a chef) plus 1 full time chef. In addition in the kitchen there is 1 full time & 1 part time staff for preparation. Restaurant area 4 full time waitresses.

Trading Hours

Seven days per week. 12 noon - 3 p.m. & re-opening at 5 p.m. - 12 midnight (We understand the kitchen closes at 11 p.m. each evening)

Outside

Small yard at rear

Tenure

We understand the premises are held on a secure renewable lease, the present lease having approximately 9 years unexpired at a rental of £20,000 p.a. exclusive of rates for the next 4 years with rent to be agreed thereafter.

Uniform Business Rates: £12,000 p.a. approx.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £400,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 200,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote