Restaurant and Bar in North London For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, NW LONDON

Turnover £ 18,000
Price £425,000

Features

Well Presented Licensed Lounge & Restaurant

5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 1,250 ft² WITH ELECTRIC SHUTTERS, tiled floor, ceiling with spot lights. Bar with seating for 4 People, 2 x under counter drinks display fridge (glass fronted upright double-door), 2 taps. Tables and chairs providing seating for 90 People, CCTV system (15 cameras).

Kitchen with stainless steel extractor unit, Gas 6-burner Cooker, deep fryer (2 pan), grill, salamander grill, hot plate, charcoal grill, 3 x fridge, fridge, 5 x freezer, double sink and drainer, cool display fridge, Coffee Machine (2 Group), coffee grinder.

Walkin coldroom.

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

Turnover

WE ARE INFORMED by the owner the turnover currently averages £18,000 p.w. with a Gross profit of 65% approx. (NO ONLINE SERVICE)

Staff

The business is at present operated by the vendor with 4 full time & 3 part time staff.

Trading Hours

7 Day week
MONDAY - SUNDAY 11am - 11pm

Outside

Rear yard

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 16 years in 2015 with reviews every 4 years (next review 2027) at a current rent of £52,000 p.a.

Business Rates from April 2024 £4,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2014, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £425,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 212,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote