Upper Street, Islington Restaurant & Cafe with Open Plan Kitchen & Licence for Sale
Islington, London
- Status
FOR SALE
- Date Submitted:
22/04/24
- Advert ID
610138
- Reference
ISLINGTON_RESTAURANT_CAFE / Rightbiz
- Call Agent:
- Leasehold: £125,000 (Stock at valuation)
- Rent: £60,000
- Turnover: £416,000 (£8,000 Per week)
- Net Profit: Not Applicable
Key Features
- Adjacent to Multiple Retailers
- Fully Fitted
- Attractive Business
- Prime Location
- High Turnover
- Close to Local Amenities
- Town Centre location
- Established Business
Business Details
Restaurant & Cafe for Sale in Upper Street, Islington with Open Plan Kitchen & Premises Licence
Restaurant & Cafe for Sale in Upper Street, Islington
MAIN FEATURES
- Upper Street, Islington
- Circa 1,000 Sq. Ft
- Extraction in Situ
- Open Plan Kitchen
- Gas Supply in Place but Currently Not Used
- Premises Licence in Place
LANDLORD’S REQUIREMENTS
- Personal Guarantor maybe Required (Subject to References)
- 3-6 Months Rent Deposit Subject to References
- Accountant’s references
- Trade references
LEASE DETAILS
- Lease Ending : July 2027 (Inside the Act of 1954)
- Option of New Lease
- Rent: £60,000 PAX
- Rent Review: Every 5 Years
- Next Rent Review: July 2027
- Premium: £125,000 (Lease & FF&E) SAV
THE PREMISES
- Circa 1,000 sq. ft
- Circa 50-60 Covers
- Payable Business Rates: Circa £17,714/annum (Rateable Value: £35,500)
- 75% Rates Rebate for Current Fiscal Year (Retail Relief)
- Open Plan Kitchen
- Fridge/Cold Room in Place
- Extraction in Place
- Premises Licence in Place
- Permitted Hour : 11am – 11pm (Fri-Sat:11:30pm)
THE BUSINESS
- Currently trading five dinners a week.
- Scope to open for Lunch and additional dinners.
- No delivery service offered.
- Gross Revenue: We have been informed that the business generates gross revenue of circa £416,000 per annum (£8,000/week).
THE LOCATION
- Upper Street, Islington, N1
- 0.4 mile to Highbury & Islington Station
- Adjacent to Multiple Retailers
- CLICK here to learn more about Upper Street
REASON FOR SALE
- Due to other business commitments.
VIEWINGS & CONFIDENTIALITY
All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client and must have proof of funds to meet the premium and landlord’s requirements.
Strictly through Restaurant Property Sellers only. By using our website, you agree with our Terms & Conditions.
DISCLAIMER
The above information is provided by the seller and are issued without responsibility on the part of the firm therefore are not to be relied upon as statements of facts. Any intending purchaser must satisfy themselves as to the correctness of each statement. The firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property.
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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