Well Established Detached Licensed Chinese Restaurant For Sale

Business description

Established in 2001 as Chinese cuisine and we are informed by the present owners that this is the only Chinese Restaurant in Wisbech, however, we would further advise that there are Chinese Takeaways in Wisbech. Prior to 2001 the premises traded as a Public House.

LARGE FREE PUBLIC CAR PARK CLOSE TO THE RESTAURANT

SPACIOUS DETACHED RESTAURANT SPLIT LEVEL with quality tiled wood effect floor plus ceramic tiled floor in the bar area. Attractive lighting, 2 air conditioning/heating units. Tables and chairs providing seating for 65/70 persons. ATTRACTIVE BAR with optics, double door glass fronted counter fridge, sink, glasswasher.

Fully tiled ladies' cloakroom with 2 w.c's, wash hand basin
Fully tiled gentlemen's cloakroom with 2 urinals, w.c. and wash hand basin

SPACIOUS COMMERCIAL KITCHEN with quarry tiled floor. The equipment includes stainless steel extractor system, stainless steel cladding to walls, 7-burner Chinese cooker, 6-burner gas cooker with oven, 1 domestic microwave oven, 3 double door stainless steel fridges, chest deep freeze, double sink and drainer, wash hand basin.

LARGE CELLAR ideal for storage purposes

Property information

Property:

Freehold

Lease terms:

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 15 years full repairing and insuring lease at a rental of £18,000 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years.

Uniform Business Rates: £3,500 p.a. approx.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Living accommodation:

The SPACIOUS living accommodation situated on the first floor with FULL GAS FIRED CENTRAL HEATING, comprises: 5 Bedrooms (3 doubles, 2 singles) Bathroom with bath, w.c. and wash hand basin Separate shower (needs attention) Large kitchen/living room

Location:

Excellent trading position,CAMBRIDGESHIRE

Business Operation

Expansion potential:

WE ARE INFORMED the turnover averages £5,000 p.w. in our opinion offering tremendous potential for further development in the right hands and with the introduction of deliveries, if desired.

Reasons for selling:

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £57,500 plus STOCK AT VALUATION SUBSTANTIAL LOAN TO AN APPROVED APPLICANT OR COMPLETE WITH THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £320,000 or near offer plus STOCK AT VALUATION SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Trading hours:

Monday - Friday inclusive 12 noon - 2.30 p.m. & 5 p.m. - 11 p.m.
Sunday opening - 12 noon - 10 p.m.

Employees:

At present operated under management. 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

Leasehold asking price:

£57,500