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London Properties are pleased to offer to the market this very well known Fully licensed 100 seater

Coventry, West Midlands
Leasehold Price:
£65,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
231265
Reference
CV2 3EW / Rightbiz

Details

LOCATION:

 

The premises are prominently located on Albany Road in the heart of Earlsdon in Coventry. The Restaurant is in a prime location 10 minutes walk from the city centre and Coventry train station and also the Earlsdon high street. The only reason i am selling this Restaurant is I don’t have enough time I have another business so I can’t concentrate on both the businesses.

 

 

 

DESCRIPTION:

 

This restaurant has a good size kitchen / cooking area and bar, it’s a 3 floor Restaurant first and second floor is used as restaurant and third floor empty at the moment but it can easily be converted in to rooms for accommodation

 

 

 

BUSINESS:

 

A very well known Fully licensed 100 seater Indian Restaurant in Earlsdon Coventry is for sale. There are lots of regular customers and students in and around this area that we have built in few years.

 

 

 

 

LOCAL AREA:

 

There is also two universities around there the main Coventry university and the Warwick university lots of students around the area. Having won the UK City of Culture 2021 the business and shops have seen a massive increase in sales. Also lots of development works are being carried out in around the city, there is big potential and lot of money to be made. I have run this restaurant for the last 8 years I have been very happy with this Restaurant and also made lots of money from it. I would not sell but the reason is I can’t be in two places at once.

 

 

 

USES:

 

A3 with alcohol licence

 

 

 

PREMIUM:

 

£65,000 Guide price for the benefit of the lease, fixtures, fittings and goodwill.

 

 

 

TERMS:

 

The property is available to let on a new lease on a full repairing and insuring basis for a term to be agreed subject to periodic rent reviews.

 

RENTAL:

 

 

£26,000 per annum

 

BUSINESS RATES:

 

 

Nil

 

 

 

SIZE:

 

Approximately 3000 sq ft

 

 

 

OPENING HOURS:

 

7 days a week 5 p.m till 11:30 p.m

 

 

 

STAFF:

 

Owner managed with 8 staff

 

 

 

UPPER PARTS:

 

Cooking area and bar, it’s a 3 floor Restaurant first and second floor is used as restaurant and third floor empty at the moment but it can easily be converted in to rooms for accommodation

 

 

 

TURNOVER:

 

Current turnover in excess of £260,000 per annum approximately

 

 

 

LEGAL COST:

 

To be confirmed

 

 

 

LOCAL AUTHORITY:

 

Coventry

 

 

 

REFERENCE CHARGE:

 

London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord

 

 

 

HOLDING DEPOSIT:

 

A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the London Properties client account

 

 

 

FIXTURE & FITTINGS:

 

Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition

 

 

 

AGENT NOTE:

 

London Properties for themselves for Lessors, Vendors and their agents, give notice that:- 

 

1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries. 

 

2. These details do not constitute any part of an offer or contract. 

 

3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties. 

 

4. All rent prices, fees and charges are quoted exclusive of VAT

 

 

 

 

VIEWINGS:

 

Through London Properties by appointment only.

Listing Details
Leasehold Price: £65,000
Tenure: Leasehold
Sector: Indian Restaurants, Restaurants, Chinese Restaurants
Financials
Annual Turnover: £260,000
Key Features
  • Offers Invited
  • New Lease
  • Established Business
  • With Car Park
  • Accounts Available
  • Prime Location
  • Fully Fitted
  • High Turnover
  • Open Plan Trading Area
  • Attractive Business
  • Town Centre location
  • Free of Tie Leasehold
  • Close to Local Amenities
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