Well Established Indian Restaurant in Bermondsey For Sale

Terrace property, excellent trading position, residential area, ROTHERHITHE, LONDON SE16

Turnover £ 5,750
Price £70,000

Features

Well Established Indian Restaurant - Presently Not Serving Liquor

SINGLE FRONTED PREMISES in the region of 700ft², WITH ELECTRIC SHUTTERS, Carpet flooring, plasterboard ceiling with spotlights.

Customer waiting area.

Tables and chairs seating 28 people.

Bar - Free standing fridge. Wash hand basin.

Ladie's cloakroom with toilet and wash hand basin.

Gentlemen's cloakroom with toilet and wash hand basin.

KITCHEN - Stainless steel extractor, Tandoori oven, 8 burner gas hob, plate warmer, micowave, stainless steel preparation tables, 2 upright fridges, chest freezer, double sink and drainer, etc.

Store room.

Room to extend the premises to the rear subject to planning permission.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,500 p.w. - £6,000 p.w. with a Gross profit of 65% approx.

The premises have a premises licence although the vendor chooses not to sell alcohol. We are advised, when offering liquor the turnover was £8,000 p.w..

Staff

The business is at present operated by the vendor with 5 full time and 3 part time.
We are informed the wage bill averages £1,750p.w. approx.

Trading Hours

7 Day week
MONDAY - THURSDAY 5 p.m. - 11 p.m.
FRIDAY AND SATURDAY 5 p.m. - 11.30 p.m.

Outside

2 Parking spaces to the rear.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a lease (Housing Association/Registered Society landlord) granted for 10 years in December 2022 with reviews every 3 years (next review 2028) at a current rent of £13,000 p.a. (We further understand the lease is outside the Landlord & Tenant Act).

Business Rates from April 2025 £3,750 approx. - under appeal (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1996, AND NOW OFFERED FOR SALE SOLELY DUE TO OWNER'S ILL HEALTH

Price

TO INCLUDE THE, GOODWILL, FIXTURES & FITTINGS £70,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 35,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote