Spacious Old Established Freehold (Part Lease) Licensed Restaurant For Sale in North London- Business 4 Sale .co.uk

Business Summary

Nationwide are pleased to offer to the market : Outstanding opportunity to acquire an old established Licensed Indian Restaurant, which has been in the same hands for the past 28 years and is now solely offered for sale due to the vendors retirement. Obviously it could continue as Indian cuisine and in our opinion, in view of the excellent main road trading position, there is potential for other types of cuisine, if desired.

No. 35 including Maisonette over is freehold property, whilst No. 37 is the adjoining property, also with accommodation over, which is held on lease having approximately 15 years unexpired.

SPACIOUS RESTAURANT, ceiling with inset lighting, fully carpeted. Air conditioning/heating. Tables and chairs providing seating for 70 persons (can be increased to accommodate 90 persons). Bar with 2 hand pumps, optics, mirrorbacked shelving.

Ladies cloakroom with 2 w.cs, wash hand basin
Gentlemens cloakroom with w.c. urinal, wash hand basin
Additional ladies and gentlemens cloakrooms each with w.c. and wash hand basin

Stairs to large basement providing spacious commercial kitchen (freehold section) with non-slip floor. Dumb waiter to ground floor restaurant. The kitchen is fully equipped including large stainless steel extractor unit, Tandoori oven, 1 8-burner Chester gas cooker, 1 6-burner Chester cooker, 1 microwave oven, 2 stainless steel fridges, 1 walk-in coldroom, 2 stainless steel deep freezes, stainless steel work surfaces, 2 double sinks and drainer, wash hand basin, large store.

Adjoining and in the basement area (leased part of the property) 1 room, not utilized at present plus an additional stockroom.

WE ARE INFORMED the turnover averages in excess of £4,000 p.w. in our opinion offering tremendous potential for further development in the right hands.

As stated No. 35 is Freehold Property whilst No. 37 comprising the adjoining part of the Restaurant and accommodation over is held on a secure renewable lease, the present lease having approximately 15 years unexpired at a rental of £17,500 p.a. exclusive of rates for the next 5 years, with rent review at that time and thereafter every 5 years.

Uniform Business Rates: £6,000 p.a. approx.

OUTSTANDING OPPORTUNITY TO ACQUIRE A SPACIOUS RESTAURANT IN THIS EXCELLENT MAIN ROAD TRADING POSITION.

OFFERS TO INCLUDE THE VALUABLE FREEHOLD PROPERTY IN RESPECT OF NO. 35 & THE LEASE IN RESPECT NO. 37, GOODWILL, FIXTURES & FITTINGS in the region of £350,000 plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE/LOAN TO AN APPROVED APPLICANT

Property Information

	Property:	Freehold

	Living Accommodation:	Yes

	Details of Accommodation:	Over the freehold part of the restaurant with separate front entrance is a SPACIOUS MAISONETTE, DOUBLE GLAZED and with FULL GAS FIRED CENTRAL HEATING. This accommodation is at present let on a shorthold tenancy and provides a rental income of £1,000 per month, however, we understand that vacant possession can be given on completion, if required. The accommodation comprises: First Floor Spacious Lounge Kitchen Bathroom with bath, w.c. and wash hand basin Second Floor 2 Double Bedrooms ADDITIONAL ACCOMMODATION situated over the lease part of the restaurant and with rear access, comprises: First Floor Lounge Kitchen Bathroom with bath, w.c. and wash hand basin Second Floor 2 Double Bedrooms 2 of the rooms in the second accommodation are at present let and the vendor receives a rental income of £200 p.w.

	Location:	Situated in a parade, excellent main road trading position, sought after residential and commercial area, LONDON, N

Other Details

	Is this a home-based business?	No
	Can this business be relocated?	No
	Is this business part of a franchise?	No

Summary of Business Hours

6 p.m. - 12 midnight seven evenings per week
In our opinion there is tremendous potential for additional opening hours

Summary of Staffing

The Restaurant is at present operated by the vendor with the assistance of 2 chefs plus 2 kitchen staff plus 3 additional staff in the restaurant area. Wages paid in the region of £1,500 p.w.

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