Restaurant and Bar in East London For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, East London

Turnover £ 2,300
Price £49,500

Features

Licenced Restaurant with Bar

5 STAR HYGIENE RATING
4 DAYS OPENING.

SINGLE FRONTED PREMISES in the region of 640 ft² WITH SHUTTERS, wood strip floor, ceiling with hanging lights. Bar, EPOS till, Tables and chairs providing seating for 25 People, CCTV system (3 cameras).

Open plan kitchen area, stainless steel extractor unit, Gas 2-burner Cooker, large grill, fridge's, freezer's, sink and drainer, preparation table.

First Floor in the region of 180 ft²

With rear roof terrace providing seating for an additional 25 People

Toilet with w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £2,300 p.w. with a Gross profit of 65% approx. (£300 online sales)

Staff

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

Trading Hours

4 Day week
WEDNESDAY - SATURDAY 12 noon - 11pm

Accommodation

THE ACCOMMODATION with Gas Fired Central Heating, Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £1,500 per month. The accommodation comprises:

1 Large bedsitting room.
Kitchenet
Shower room with shower, w.c. and wash hand basin.

THE ACCOMMODATION with Gas Fired Central Heating, Double-glazed windows, at present let used for short term let for £65 per night. The accommodation comprises:

1 Large bedsitting room.
Shower room with shower, w.c. and wash hand basin.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in 2023 with reviews every 5 years (next review 2028) at a current rent of £39,000 p.a. with a £18,000 rental income from one of the flats

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2022, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £49,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 24,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote