Spacious Licenced Restaurant In East London For Sale

Business description

At present Turkish cuisine, which could obviously be continued and in our opinion there is potential for other types of cuisine, if desired.

SPACIOUS LICENSED RESTAURANT with woodstrip floor, ceiling lighting. Tables and chairs providing seating for 75 persons. BAR with 2 hand pumps, 2 glass fronted counter fridges.

LEVEL KITCHEN with tiled floor. The equipment includes charcoal grill, 6-burner gas cooker, deep fryrer, 4 stainless steel fridges, 3 upright double door stainless steel deep freezes, 2 chest deep freezes, walk-in coldroom, double sink and drainer etc.

Disabled cloakroom with w.c. and wash hand basin
Ladies' and gentlemen's cloakrooms each with w.c. and wash hand basin

Property information

Property:

Leasehold

Lease terms:

We understand the premises are held on a secure renewable lease, the present lease having approximately 14 years unexpired at a rental of £50,000 p.a. exclusive of rates for the next 4 years, with rent review at that time and thereafter every 5 years.

Uniform Business Rates: £20,000 p.a. approx.

EPC D (94)

RECOMMENDED FOR EARLY INSPECTION

Location:

Situated in a parade, excellent High Street trading position, commercial and residential area, LONDON, E

Business Operation

Expansion potential:

WE ARE INFORMED the turnover averages £10,500 p.w. in our opinion offering further potential to increase in the right hands.

Reasons for selling:

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £185,000 plus STOCK AT VALUATION SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

12 noon - 11 p.m. seven days per week

Employees:

The Restaurant is at present operated by the vendor with the assistance of 5 full time and 6 part time staff. It will be appreciated upon inspection that with an active husband and wife team, the wage bill could be reduced.

Other information

Financing available:

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