Italian Restaurant with Modern Decor and 50-Cover Outdoor Space for Sale in Essex
Little Canfield, Essex
- Status
FOR SALE
- Date Submitted:
13/10/23
- Advert ID
601063
- Reference
ESSEX_ITALIAN_RESTAURANT / Rightbiz
- Call Agent:
- Leasehold: £90,000 (Stock at valuation)
- Rent: £20,000
- Turnover: £500,000 (£9,615 Per week)
- Net Profit: On request
Key Features
- Prime Location
- Fully Fitted
- Established Business
- Price Reduced
- High Turnover
Business Details
Modern Décor with 50Covers Outdoor Space Restaurant for Sale in Little Canfield, Essex
Restaurant for Sale in Little Canfield, Essex
An exciting opportunity to own a charming and well-established Italian restaurant located in the picturesque village of Little Canfield, Essex. This beautifully presented restaurant is now available for sale, offering an ideal chance for aspiring restaurateurs.
MAIN FEATURES
- Modern décor
- Large Outdoor Space for circa 5o covers
- Well presented cosy restaurant & bar
- Fully fitted commercial kitchen
- Situated in local shopping centre
- Large frontage of circa 20 ft
LANDLORD’S REQUIREMENTS
- Rent deposit subject to references
- Personal Guarantor subject references
- Proof of funds
- Accountant’s references
- Trade references
LEASE DETAILS
- Lease: Ending Sept 2029 (Inside the Act of 1954)
- Tenant only Break Clause: Sept 2024
- Rent: £20,000 VAT to be reviewed every 5 years
- Service Charge: £1,750 per annum
- Next rent Review: Sept 2024
- Premium: £90,000 (Business, Lease & FF&E)
THE PREMISES
- Ground Floor: Circa 942 Sq. Ft
- Business Rates: Circa £8,500 (Rateable Value: 17,500)
- Currently paying £1,700 per annum due to discount
- Covers: Indoor: 35 | Outdoor: 50 covers
- Outside Covers: TBC
- Opening Hours: 12pm till 3pm & 5pm till 11pm
- Premises Licence in Place
- Permitted Hours: TBC
THE LOCATION
- Little Canfield, Dunmow, Essex, CM6
- Parking space available
The property is located in Priors Green Local Centre which is situated at the heart of the residential expansion of Takeley that has occurred over the past 10 years. The local centre comprises of seven retail units occupied by regional and local retailers.
TRADING & FINANCIALS
- Gross Sales Revenue (2022-23): Circa £9,600/week (£500,000/year) (As per the vendor)
- Well trained professional staff in place
- Provides Airline Catering too
Launched 2 years ago, our client has successfully established this restaurant and accumulated excellent reviews across all platforms. It is currently operated by 5 full time staff, 2 part time and 2 owners.
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
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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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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.
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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.'.
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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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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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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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