Spacious Fully Licensed Restaurant For Sale - Tottenham, London, United Kingdom

Asking price: £69,995

Sales revenue: £156,000

Net profit: £92,000

Fixtures value: £92,000

Business description: Occupying busy High Road position, at the heart of Totthenham High Road just opposite Bruce Grove Rail station, located in a strategical position in the middle of Mcdonald, Somerfield, Iceland and boots. The area is densely populated area. More than 30 years established restaurant with excellent clientele base. Very contemporary and mood setting decor, well equipped with 100+ covers and a separate function room. Restaurant occupies ground floor and first floor (can be turned into a four bedroom if so wishes) 15 yrs Lease and renewable option in the lease. Rent £22,000 p.a. Business rate only £1300 for the whole year. It comes with a modern two group espresso machine, grinder, water filter and a 120 pie warmer display for sweets. Level kitchen with tiled floor, fully equipped including stainless steel extractor, easy to clean, well equipped including 1 medium sized and a large stainless steel worktops, two good sized ovens, 1 6-burner gas cooker, 1 4-burner gas cooker, deep fryer, Industrial microwave, 2 large coolers, 2 fridges and 3 additional freezers. The kitchen has a good sized separate store room.

Years established: 2

Employees: The Restaurant is at present operated by 2 partners, 2 full time chefs, 1 full time kitchen help plus 1 full time waiter and 2 part time waiters.

Trading hours: Monday - Saturday inclusive – 7am - 11.30 p.m. Sunday opening - 10.30 a.m. 11.30pm.

Property : Leasehold

Lease terms: The premises are held on a secure renewable lease for a period of 15 years from Julyr, 2007 at a current rental of £22,000 p.a. exclusive of rates up to September, 2012 , with rent to be agreed thereafter. Uniform Business Rates: £1300 p.a. approx. + water rates.

Expansion potential: The turnover averages £3000 p.w. offering further potential to increase in the right hands. Gross profit 59% approx. First floor 4 bedroom residential covers the mortgage for the entire building, so the owner can concentrate on the restaurant business. OUTSTANDING OPPORTUNITY TO ACQUIRE A MOST ATTRACTIVE AND WELL EQUIPPED LICENSED RESTAURANT IN THIS EXCELLENT TRADING POSITION

Reasons for selling: The owner has other international business commitments which he can not combine with this one.