Essex Spacious Well Fitted Established Licensed Chinese Restaurant For Sale

Business description

This well established Restaurant has been in the same family for the past 40 years and there are genuine reasons for sale.

Well established as Chinese cuisine, which could obviously be continued, and in our opinion in view of the excellent main road trading position, there is potential for other types of cuisine, if desired.

ATTRACTIVE SINGLE FRONTED RESTAURANT,fully carpeted, ceiling with inset lighting. Full Gas Fired Central Heating. 2 air conditioning units. Tables and chairs providing seating for 55 persons (can be increased to accommodate 60 persons, if desired). ATTRACTIVE BAR with brick front, sink, double door glass fronted counter fridge, mirror-backed shelving.

Fully tiled ladies' and gentlemen's cloakrooms each with w.c. and wash hand basin

LEVEL KITCHEN with quarry tiled floor, stainless steel extractor, stainless steel cladding to walls, 7-burner Chinese cooker, 4-burner gas cooker with oven, 1 commercial plus 1 domestic microwave oven, upright stainless steel fridge, chest deep freeze, small fridge, double sink with drainer, wash hand basin etc.

Property information

Property:

Leasehold

Lease terms:

We understand the Restaurant is held on a new 10 years lease from September, 2011 at a rental of £17,000 p.a. exclusive of rates up to September, 2016, with rent to be agreed thereafter.

Uniform Business Rates: £4,400 p.a. approx.

AS STATED THE RESTAURANT HAS BEEN IN THE SAME FAMILY FOR THE PAST 40 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Location:

Situated in a parade, main road trading position, MIDDLESEX

Business Operation

Expansion potential:

WE ARE INFORMED the turnover averages in the region of £5,000 p.w. takeaway & delivery, in our opinion offering tremendous potential for further increase in the right hands. Gross profit 65% approx.

Reasons for selling:

TO INCLUDE THE LEASE, GOODWILL, FIXTURES & FITTINGS £55,000 plus STOCK AT VALUATION SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

12 noon - 2 p.m. & 5.30 p.m. - 10.30 p.m. seven days per week

Employees:

The business is at present operated by the vendor's son who is a full time manager with the assistance of 3 full time chefs plus 3 full time waiters.

Other information

Financing available:

Please call Nationwide Businesses who will be pleased to help you with finance