Old Established Licensed Indian Restaurant For Sale

Business description

DOUBLE FRONTED LICENSED RESTAURANT occupying a corner position. Ground floor, wooden floor. Air conditioning. Tables and chairs providing seating for 25 persons. Dispense bar with sink.

Stairs to first floor. Additional restaurant area, fully carpeted. Tables and chairs providing seating for an additional 20 persons.

Basement kitchen with dumb waiter to first and second floor. The kitchen has a tiled floor. The equipment includes Tandoori oven, 6-burner gas cooker, 3 chest deep freezes, walk-in coldroom, commercial microwave oven, double sink and drainer etc.

Dry goods store plus 2 further storerooms

Property information

Property:

Leasehold

Lease terms:

We understand the premises are held on a secure renewable lease, the present lease having approximately 17 years unexpired at a rental of £27,000 p.a. exclusive of rates for the next 3 years, with rent review at that time and thereafter every 5 years.

THIS OLD ESTABLISHED RESTAURANT HAS BEEN IN THE SAME HANDS FOR THE PAST 8 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

RECOMMENDED FOR EARLY INSPECTION

REDUCED FOR EARLY SALE

Living accommodation:

The accommodation in the form of a STUDIO FLAT is currently let on a shorthold tenancy and provides a rental income of £9,000 p.a. however, we understand that vacant possession can be given on completion, if required. The Studio Flat comprises: Bedsit

Location:

Situated in a parade, excellent trading position, commercial and office area, LONDON, C

Other information

Expansion potential:

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

Reasons for selling:

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £65,000 plus STOCK AT VALUATION SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

Monday - Friday inclusive - 12 noon - 3 p.m. & 6 p.m. - 11.30 p.m.
Saturday & Sunday - evenings only - 6 p.m. - 11 p.m.

Financing available:

SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.