Quality Italian Restaurant in North London For Sale

Situated in a parade, excellent main road trading position, NORTH LONDON

Turnover £ 5,500
Price £120,000

Features

Licenced Italian Restaurant

6 DAYS OPENING
5 STAR HYGIENE RATING
LIVE MUSIC LICENCE

DOUBLE FRONTED PREMISES in the region of 1,200 ft² WITH ELECTRIC SHUTTERS. Laminated strip floor. Tables and chairs providing seating for 26 persons. BAR, glass frotned upright double door drinks display fridge, double-door fridge, EPOS till (on loan). CCTV system (6 cameras, 1 monitor)

OPEN PLAN PIZZA KITCHEN AREA. Stainless steel extractor unit, Wood fired pizza oven, refrigerated making table, dough mixer, 3 under-counter fridges, freezer, 3 preparation tables, ice maker

ADDITIONAL REAR KITCHEN. Stainless steel extractor unit, 4-burner gas cooker, microwave, 2 x 2-pan deep fryer,.

Walk-in coldroom (not utilised)
Walk-in freezer room (not utilised)

Toilet with w.c. and wash hand basin

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,500 p.w. with a Gross profit of 65% approx. (60% ONLINE SALES)

Staff

The business is at present operated by 3 partners with the assistance of 2 part time staff.

Trading Hours

6 Day week
TUESDAY - THURSDAY5pm - 10pm
FRIDAY & SATURDAY 5am - 10.30pm
SUNDAY 12 noon - 10pm

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) 6 years full repairing and insuring lease with no rent reviews at a current rent of £25,000 p.a.

Business Rates from April 2024 £2,800 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2023, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £120,000 plus STOCK AT VALUATION
LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 60,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote