Well Established Indian Restaurant in Margate For Sale

Situated in a parade, main road trading position, not far from the sea front KENT MARGATE

Turnover £ 4,000
Price £79,500

Features

Well Established Licensed Restaurant

The business has been in the same hands trading as an Indian Restaurant for the past 41 years, which could obviously be continued & in our opinion there is potential for other types of cuisine, if desired.

The vendor has now decided he wishes to retire.

DOUBLE FRONTED RESTAURANT with wooden floor, partly carpeted. Tables & chairs providing seating for 46 persons. BAR with 2 hand pumps, sink, wine display.

Ladies' & gentlemen's cloakrooms each with w.c. & wash hand basin

REAR KITCHEN with non-slip floor. The equipment includes 9-burner gas cooker with 2 ovens, Tandoori oven, 1 microwave oven, 1 fridge, 1 small chest deep freezer, double sink & drainer, wash hand basin etc.

Turnover

WE ARE INFORMED the turnover averages £4,000 p.w. in our opinion offering further potential to increase in the right hands.

Staff

At present operated by the vendor (who is a chef) with 3 part time kitchen staff & 2 part time waiters. In addition 1 person is employed for deliveries.

Trading Hours

6 p.m. - 11.30 p.m. seven days per week

Accommodation

The SPACIOUS SELF CONTAINED accommodation with FULL GAS FIRED CENTRAL HEATING, comprises:

First Floor
Kitchen
2 Double Bedrooms
Cloakroom with w.c. & wash hand basin

Second Floor
2 Additional Double Bedrooms
Bathroom with bath, wash hand basin

Outside

Small yard area

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 16 years full repairing and insuring lease at a rental of £18,000 p.a. exclusive of rates for the first 4 years with rent review at that time and thereafter every 4 years.

Uniform Business Rates: £1,300 p.a. approx. (after small business relief)

AS STATED THE RESTAURANT HAS BEEN IN THE SAME HANDS FOR THE PAST 41 YEARS AND IS NOW OFFERED FOR SALE DUE TO RETIREMENT

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

REALISTICALLY PRICED FOR EARLY SALE

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £79,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 39,750 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote