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High Turnover Turkish Restaurant In Islington

Islington, London
Leasehold Price:
£340,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
228909
Reference
6187 / Rightbiz

Details

    Excellent Parade Location

    318 Google Reviews With 4.6 Stars

    Annual Turnover £884,000

    40 Seater Restaurant

    5* Trip Advisor Ratings

    EPC - D

Description:
REF 6187 – Leasehold Turkish/Mediterranean Restaurant
Blacks Business Brokers are pleased to bring to the market this leasehold Turkish restaurant located in the much sought-after area of Islington, Greater London.

INTRODUCTION
Liman Restaurant has been trading on Penton Street since June of 2016, with our client in ownership since opening. This has fast become a highly respected and busy eatery, offering a wide range of freshly made Turkish food. Liman Restaurant has also established an excellent online presence and superb online reviews along with a five-star hygiene rating.

LOCATION
Located on Penton Street in Islington, close to The Angel, Pentonville Road and the A1, this trading position is superb and brings a huge amount of both local custom and passing trade.

REASON FOR SALE
The business is only being offered for sale due to our client’s family commitments.

LEASE
Full lease details are to be confirmed. The current lease is 15 years and began in 2016 at a cost of £384 per week.

BUILDING LAYOUT AND DESIGN
Liman Restaurant occupies the ground, lower ground & first floor of a well-presented mid-terraced property. The business branding is displayed on clear signage above a fully glazed frontage. Inside, the dining area offers seating for forty and is attractively presented with tasteful décor, wood-strip flooring and exposed brickwork to the walls. The bar and servery is positioned to the side and operates as an open kitchen with two group coffee machines and coffee grinder.Within the lower-ground floor is a spacious basement in which the kitchen and food preparation areas are positioned. The kitchen is well equipped with charcoal grill, six-burner gas hob and oven, double pizza oven, two walk-in cold rooms and much more.At the front of the building there is a good amount of pavement space which could house up to four tables and eight chairs in the finer months. We understand a Licence Fee of £800 per annum is payable for this space, if desired. There is no accommodation included and the upper floors of this building are not included in the lease.

STAFF
The business is currently operating with one part-time and 6 full-time members of staff in employment. Our client and partner also work on a full-time basis managing the day-to-day running of this busy eatery.

FINANCIAL DETAILS
Liman Restaurant has traded solidly since opening. The business generates an annual turnover of £884,000 with gross profits to be confirmed. Full financial details are available upon viewing.

SUMMARY
This leasehold business offers a superb opportunity for a new owner, although having only been established for two years, this superbly presented Turkish/Mediterranean Restaurant has achieved a high turnover and an excellent reputation in an affluent area of North London close to the Angel of Islington. This proposition would ideally suit an owner operating team or partnership who could continue to push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Fixtures & Fittings:
2 Air conditioning/heating units
Coffee machine
Coffee bean grinder
2 Under counter drinks chillers
1 Charcoal grill
Air extraction system
Stainless steel cladding to walls
6-burner gas cooker & oven
1 Double pizza oven
2 Pan deep fryer
4 Double door stainless steel fridges
2 Walk-in cold rooms
1 Chest deep freezer
Double sink


Opening Hours:
MON: 12:00 - 23:00TUE: 12:00 - 23:00WED: 12:00 - 23:00THU: 12:00 - 23:00FRI: 12:00 - 23:00SAT: 12:00 - 23:00SUN: 12:00 - 23:00


Weekly Rent:
£384 Per Week. Weekly Rent:
£384 Per Week.
Seller Details
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Listing Details
Leasehold Price: £340,000
Tenure: Leasehold
Sector: Restaurants
Financials
Annual Turnover: £884,000
Location Statistics
What's nearbyi:
St Mungo's (approx. 0 mile)
Highbury Corner Magistrates' Court (approx. 0 mile)
Yogacampus ( Head Office ) (approx. 0 mile)
A Wild Flooring (approx. 0 mile)
ATM (approx. 0 mile)
Tesco Metro (approx. 0 mile)
Tesco Direct Click and Collect (approx. 0 mile)
Northern Soundhouse (approx. 0.2 mile)
Holloway Domestic Appliances (approx. 0.3 mile)
Emperor Chinese (approx. 0.3 mile)
Listing Statistics
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