Most Attractive Italian Restaurant in West Sussex For Sale

Situated in a Parade, excellent High Street trading position, residential, office and commercial area, West Sussex.

Turnover £ 7,500
Price £195,000

Features

Most Attractive Licensed Italian Restaurant

6 DAYS OPENING
2024 NET PROFIT £141,500 (BEFORE TAX)
L1 ALCOHOL LICENCE
5 STAR HYGIENE RATING
NEWLY FITTED 2023
FORECOURT WITH SEATING FOR 4 PEOPLE

SINGLE FRONTED PREMISES in the region of 700 ft² WITH CANOPY, wood strip floor, spot and hanging lighting, Air conditioning with hot air. Bar 1 draft beer, drinks display fridge (glass fronted), Coffee Machine (2 Group), Tables and chairs providing seating for 38 People, CCTV system (7 cameras, 1 monitor).

Kitchen with stainless steel extractor unit, Gas 6-burner Cooker, Gas 4-burner Cooker, pizza oven (2-deck), deep fryer (2 pan), 2x freezer, 4x fridge.

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

Store room.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,500 p.w. with a Gross profit of 65% approx. (NO ONLINE PORTALS)

Staff

The business is at present operated by the vendor with 3 full time staff employed.

Trading Hours

6 Day week
MONDAY - THURSDAY 12 noon - 2.30 pm then 5pm - 9pm
FRIDAY & SATURDAY 12 noon - 9pn

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2020 with reviews every 5 years (next review 2030) at a current rent of £20,000 p.a.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2018, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £195,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 97,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote