Licensed Restaurant & Function Suite | | Southend on Sea Essex | | LICENSED RESTAURANT, FUNCTION SUITE (150) + 4 BED ACCOMMODATION - AFFLUENT AREA NEAR SOUTHEND-ON-SEA. A substantial ground, first and second floor property that has been established for the past 20 years trading as a Chinese restaurant and takeaway, that would also suit any other cuisine. Reported takings circa £10,000 per week (has done £20,000). New lease available or freehold for sale. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 57272
ADVERT IMPRESSIONS : 9,451 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | LEASEHOLD: | £200000 | ANNUAL RENT: | £45000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Town: SOUTH EAST ESSEX
County: Essex
Main road location in one of the most sought after areas within the Southend-on-Sea borough. The position/premises would also suit all other cuisine types.
The Business
A substantial ground, first and second floor property that has been established for the past 20 years trading as a Chinese restaurant and takeaway, that would also suit any other cuisine.
The Premises
Entrance Porch with part glazed door leading in to The Restaurant providing a comfortable 50 covers with round tables and chairs to suit. Spacious Bar with draft facilities, wine/beer fridges etc. Separate Ladies & Gents Toilets. Staircase rising to the first floor Restaurant/Function Room providing an additional 100 covers and having its own bar with draft facilities, beer chillers, wine fridges etc. Separate Ladies & Gents Toilets. Trade Kitchen with dumb waiter and extensively equipped to trade with commercial stainless steel catering equipment.
Living Accommodation the living accommodation is situated on the second floor and comprises of 4 bedrooms, living room, bathroom and toilet. In addition there is a large store room on this floor housing freezers etc. From the accommodation there is access to a patio area with views over the river.
Trading Hours
The restaurant currently trades 7 days a week 12 noon to 12 o'clock midnight.
Staff
The business is currently run by the vendor assisted by his wife and 6 full time and 2 part time staff.
Turnover
We are advised that takings average £10,000 per week working to the usual high gross profit margins. WE are further advised takings have been as high as £20,000 per week and there is potential to do this level again!
Tenure
Leasehold - New lease available for a term to be agreed at a commencing rental in the region of £45,000 per annum exclusive. Alternatively the freehold is for sale at a price of £800,000 - offers invited.
Business Rates
The premises have a rateable value of £16,000 payable at .414p in the £, equating to £6,624 payable for April 2010/11.
Legal Costs
Each party are to be responsible for their own legal costs incurred in this transaction with the ingoing tenant to be responsible for the cost of drawing up a new lease if applicable.
Summary
A very well known Chinese restaurant that trades from a substantial 3 storey property. The business is for sale due to our clients retirement from the trade.
Inventory
A detailed inventory of fixtures and fittings will be prepared and supplied at the point of sale.
Finance
Finance and business loans are available from leading high street banks with attractive finance options. We can arrange for you to speak to a national firm of Business Finance Brokers or alternatively put you in touch with a major high street bank for a free under no obligation discussion or consultation. | | | | | | FOR SALE | | | | | REFERENCE: | C4185E / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
