Restaurant and Nightclub in Essex For Sale

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

Turnover £ 17,000
Price £400,000

Features

Licenced Restaurant Bistro and Night Club

2 DAYS OPENING
LICENCED FOR 235 PEOPLE

DOUBLE FRONTED PREMISES, laminated strip floor, suspended ceiling with spot and LED lighting, disco Lights, Air conditioning with hot air. Bar with seating for 7 People, 2 EPOS till, drinks display fridge (glass fronted), 8 taps. Tables and chairs providing seating for 70 People, CCTV system (16 cameras, 1 monitor)

Disabled Toilet with w.c. and wash hand basin.

First floor. Bar with Epos Till, Air conditioning with hot air, Tables and chairs providing seating for 70 People.

Kitchen, stainless steel extractor unit, dumbwaiter, Gas 8-burner Cooker, grill, flat grill, deep fryer (2 pan), dishwasher (commercial), double sink and drainer, 2 microwave, preparation table, 2 deep freeze, 1 stainless steel large fridge.

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

Stock room.

Office

Turnover

WE ARE INFORMED by the owner the turnover currently averages £17,000 p.w. with a Gross profit of 65% approx.

Staff

The business is at present operated by the 3 partners with the assistance of 5 part time staff & 3 security door staff

Trading Hours

2 Day week
FRIDAY & SATURDAY 10am - 1am

It will be appreciated upon inspection that there is terrific potential for additional opening hours.

Outside

Rear yard plus 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 2022 with reviews every 5 years (next review 2027) at a current rent of £50,000 p.a.

Business Rates from April 2024 £18,000 approx. (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 £400,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 200,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote