Spacious Well Fitted Licensed Restaurant In North London For Sale

Business description

The restaurant has been in the same hands for approximately 20 years and there are genuine reasons for sale. Whilst well established as Indian cuisine, in view of the excellent main road trading position, in our opinion there is terrific potential for other types of cuisine including Turkish, French, Lebonese and Thai if desired.

Front area with space for 2 tables and 4 chairs

IMPRESSIVE & SPACIOUS LICENSED RESTAURANT (can be open front weather permitting). Quality woodstrip floor, ceiling with inset lighting. 2 air conditioning/heating units. Some exposed brickwork. Tables and chairs providing seating for 40. BAR with 2 glass fronted small fridges used for wine plus 1 fridge for beers, sink, music system.

Stairs to basement
Gentlemen's cloakroom with half tiled walls, w.c. urinal, wash hand basin with electric hand dryer
Half tiled ladies' cloakroom with w.c. wash hand basin, electric dryer

KITCHEN with dumb waiter to ground floor restaurant. The kitchen has tiled floor and is well equipped including doule sink and drainer, hot cupboard, additional hot cupboard, upright stainless steel fridge, 7-burner gas cooker, Tandoori oven, stainless steel extractor plus stainless steel cladding to walls.

Rear section with stainless steel fridge, 1 upright fridge, 1 upright deep freeze, small chest deep freeze, wash hand basin

Property information

Property:

Leasehold

Lease terms:

We understand the landlord will grant, subject to satisfactory references is a new 20 years full repairing and insuring lease at a rental of £50,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years.

AS STATED THE RESTAURANT HAS BEEN IN THE SAME HANDS FOR THE PAST 20 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, excellent main road trading position, LONDON, N

Business Operation

Expansion potential:

WE ARE INFORMED the turnover averages £5,000 p.w. including takeaway and delivery, in our opinion the restaurant offers terrific potential for further development in the right hands.

Reasons for selling:

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £64,000 plus STOCK AT VALUATION SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

Monday - Saturday inclusive - 11.30 a.m. - 2.30 p.m. & 6 p.m. - 12 midnight
Sunday opening - 4 p.m - 12 midnight

Employees:

The restaurant is at present operated by the owner with 7 staff.

Other information

Financing available:

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