Old Established Indian Restaurant in Hertfordshire For Sale

Occupying a corner position, excellent main road trading position, residential, office and commercial area, Hertfordshire.

Turnover £ 5,000
Price £95,000

Features

Old Established Licenced Indian Restaurant

4 STAR HYGIENE RATING
6 DAYS OPENING

DOUBLE FRONTED PREMISES in the region of 1,500 ft², laminated strip floor, suspended ceiling with spot, hanging and wall lights. Bar, cash register, Tables and chairs providing seating for 40 People.

Kitchen with stainless steel extractor unit, Tandoori oven, Cooker (Gas 8-burner), microwave, hot plate, double sink and drainer, 2 freezers. Walkin coldroom.

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

FIRST FLOOR in the region of 350 ft² First Floor, Bar, Tables and chairs providing seating for 25 People..

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

BASEMENT, not utilised, in the region of 100 ft²

SECOND FLOOR in the region of 300 ft²:
Kitchenette
2 rooms
Shower room, w.c. and wash hand basin..

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,000 p.w. with a Gross profit of 65% approx. (55% DELIVERIES)

Staff

The business is at present operated by the lady vendor with 4 full time & 2 part time staff.

Trading Hours

6 Day week
TUESDAY - SUNDAY 5pm - 11pm

Outside

Rear yard, Parking space for 3 car.

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 2010 with reviews every 5 years (next review 2025) at a current rent of £30,000 p.a.

We further understand that the landlord, subject to satisfactory references, is prepared to grant a new lease at terms and rent to be agreed.

Business Rates from April 2024 £1,800 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1994, AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £95,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 47,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote