Restaurant and Bar in Hertfordshire For Sale

Grade II Listed, semi-detached property, excellent trading position, Hertfordshire.

Turnover £ 5,500
Price £149,500

Features

Authentic Licensed Café / Restaurant and Bar

5 DAYS OPENING ~ 4 STAR HYGIENE RATING

FORECOURT WITH SEATING FOR 16 PEOPLE (LICENSED FOR 24 PEOPLE)


SEMI-DETACHED PREMISES in the region of 1,250 ft², Laminate flooring, plasterboard ceiling and spot lights.

Tables and chairs providing comfortable seating for 24 People

Bar - Cash register, under counter fridges, glass washer, wash hand basin, mirror backed shelving, 2 group coffee machine, grinder, knock-out drawer.

OPEN PLAN KITCHEN - Stainless steel extractor, twin deck pizza oven, double basket deep fat fryer, 6 burner hob with oven beneath, gas grill, microwave, full height single door fridge, under counter fridge, 2 under counter freezers, large chest freezer, marble topped pizza station, dough mixer, single sink with double drainers, wash hand basin, dish washer (on lease), etc,

Stairs to . .

First floor, in the region of 520 ft²

Tables and chairs providing seating for 26 People

Ladies cloakroom with toilet and sink.

Gentlemans cloakroom with toilet and sink.

Baby changing unit.

Staff room / store room - bottle fridge, freezer, ice machine.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,000 - £6,000 p.w. with a Gross profit of 65% approx. Sales year end 31 March 2023 showed £201,000, with a gp 62%

NO ONLINE SALES

Staff

The business is at present operated by the Husband & Wife team plus family support with the assistance of 10 part time staff.
We are informed the wage bill averages £1,100p.w. approx.

Trading Hours

5 Day week
TUESDAY, WEDNESDAY 8.30 am - 4.30 pm
THURSDAY - SATURDAY 8.30 am - 11pm
CLOSED SUNDAY AND MONDAY
Local demand for longer hours.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 5 years in 2019 with reviews every 5 years (next review 2024) at a current rent of £13,500 p.a.

The Landlord is prepared to grant, to an approved applicant, a new 16 years lease, with a tenant only break clause at the start of year 4, at an initial rental of £21,600 per annum, with rent reviews every 4 years.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2019, AND OFFERED FOR SALE SOLELY DUE TO OWNERS' RETIREMENT

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £149,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 74,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote