Restaurant and Wine Bar in East London For Sale

Situated in near RAILWAY STATION, EAST LONDON

Turnover £ 5,500
Price £200,000

Features

Licenced Bar & Restaurant

3 PHASE ELECTRIC
FORECOURT WITH SEATING FOR 60/80 PEOPLE
5 STAR HYGIENE RATING

SINGLE FRONTED PREMISES in the region of 2,250 ft² WITH ELECTRIC SHUTTERS, Concrete floor, hanging and spot lighting. Bar with 7 taps, glass washer, ice machine, fridges, freezer, Tables and chairs providing seating for 45 People (can be expanded), CCTV system (5 cameras).

Kitchen with stainless steel extractor unit, Tandoori oven, Electric Cooker, deep fryer (2 pan), deep fryer, conduction cooker, fridges, freezers, dishwasher, preparation tables

Toilet with w.c. and wash hand basin.

Basement in the region of 765 ft² with Additional bar and Function room.
Ladies' & gentlemen's Toilet with w.c. and wash hand basin.

Mezzanine with Office.
Stock room

Turnover

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

Staff

The business is at present operated by the 2 brothers with 3 chefs, 2 porters with the assistance of 5 part time staff.

Trading Hours

7 Day week
SUNDAY - THURSDAY 11am - 11pm
FRIDAY & SATURDAY 11am - midnight

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 2024 with reviews every 5 years (next review 2029) at a current rent of £60,000 p.a. plus VAT

Business Rates from April 2025 £TBC approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE NOVEMBER 2024, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £200,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 100,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote