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Freehold Restaurant for Sale | Business Included | Two Separate 2 Bed Flats

Bowes Park, London
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Freehold Restaurant for Sale | Business Included | Two Separate 2-Bed Flats
  • Freehold: £1,600,000
  • Turnover: £780,000 £15,000 Per week
  • Net Profit: On request

Business Details

Freehold Restaurant with Two Separate Flats in North London

MAIN FEATURES

  • Freehold Property with Restaurant Business for Sale
  • No Lease in Situ (Owner Occupied)
  • Two Separate Flats on AST at £29,400 per annum
  • Two Units with Two Separate Upper Flats
  • Price: OIRO 1.6 million (Freehold property, business & FF&E)

GROUND FLOOR

  • Total Area Circa 2,228.39 Sq. Ft
  • Rateable Value: £23,750 (Payable: Circa £11,367/year)
  • Two separate units converted into a Takeaway, Restaurant & Cafe
  • Restaurant covers Circa 68 covers
  • Fully fitted takeaway with 8.16m extraction
  • Fitted bar, washing area, cold room, customer WC and storage
  • EPC Rating: C

Description: The ground floor accommodates a fully fitted takeaway counter at the front, leading to a small cooking area and bar followed by spacious washing, prep area, and storage to the rear with cold room. It also has a dining area for up to 68 covers. Wooden floor spread over the retail section and kitchen and prep area has Quarry stone tiles.

The ground floor also comprises of a small cafe which our client has let on a short-term contract which can be vacated as per the buyer’s requirements.

FIRST FLOOR FLATS

  • Two separate flats with front entrance
  • One 2-Bed Flat (circa 721 sq. ft)
  • One 1-Bed Flat with kitchen (circa 508 sq. ft)
  • One 1-Bed Studio (circa 213 sq. ft)
  • EPC Rating: E

Description: One upper flat is circa 721 sq. ft and comprises of a kitchen/living room, two double beds, one single bed and shower/toilet. It is currently let on AST with a rental income of £1,100 per calendar month exclusive.

The second flat accommodates one studio, circa 200 sq. ft and is let on AST with a rental income of £600 pcm and one-bed flat with circa 387 sq. ft, let on a rental income of £750 pcm. In total both the flats generate monthly rental income of £2,450 pcm (£29,400 per annum).

THE LOCATION

  • Bowes Park, North London N22
  • Several Retail Shops & Eateries nearby
  • Bowes Park Overground: 0.2 Mile
  • Bounds Green: 0.4 Mile

Description: The subject property is situated in Bowes Park, 0.2-mile from Bowes Park overground (Great Northern Railway) and 0.4-mile from Bounds Green underground train station (Piccadilly line).

TRADING

  • Trading as a popular Greek Restaurant
  • Gross Sales: Circa £15,000 to £20,000 per week

Description: Our client opened this restaurant in 1970s and since then he has been able to accumulate excellent reviews and has maintained the business and the property to its highest standard. Currently, the business is operated by family members with the help of several full time and part-time staff.

VIEWINGS & CONFIDENTIALITY

All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client. Viewings are 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.

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Key Features

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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.

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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.

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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.

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The data showed regarding this advert 'Freehold Restaurant for Sale | Business Included | Two Separate 2 Bed Flats - N22_FREEHOLD / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.