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Stoke Newington Restaurant with 32 Covers and Weekly Revenue of £8000 for Sale

Stoke Newington, London

CONFIDENTIAL SALE

  • Status

    FOR SALE

  • Date Submitted:

    08/03/24

  • Advert ID

    607945

  • Reference

    STOKE_NEWINGTON_RESTAURANT / Rightbiz

  • Call Agent:

    Registered members »

  • Leasehold: £120,000 (Stock at valuation)
  • Rent: £30,000
  • Turnover: £416,000 (£8,000 Per week)
  • Net Profit: Not Applicable

Key Features

  • Established Business
  • Fully Fitted
  • Price Reduced
  • Prime Location
  • High Turnover

Business Details

Restaurant for Sale in Stoke Newington – 32Covers, Premises licence & Revenue of £8000 Weekly

Restaurant for Sale in Church Street, Stoke Newington. Circa 796 Sq. Ft

MAIN FEATURES

  • Well established neighbourhood restaurant (8 years trading)
  • Critically Acclaimed Restaurant
  • Excellent Reputation
  • Premises Licence in Place
  • Weekly turnover of circa £8,000 (only open for dinner service Tue to Sat)
  • Circa 32 covers

LANDLORD’S REQUIREMENTS

  • Personal Guarantor Required
  • 3-6 Months Rent Deposit Subject to References
  • Accountant’s references
  • Trade references

LEASE DETAILS

  • Lease: Ending November 2027 or Option of New Lease (Inside the Act of 1954)
  • Rent: £30,000 PAX reviewed every 4 years
  • Next Rent Review: November 2027
  • Premium: £120,000 (Business, Lease & FF&E) SAV

THE PREMISES

  • Circa 796 sq. ft
  • 32 Covers Restaurant
  • Fully Equipped Commercial Kitchen
  • Gas & Extraction in Place
  • Premises Licence in Place

THE BUSINESS

  • Trading for 8 years with solid customer base and reputation
  • We have been informed that the restaurant generates gross revenue of circa £416,000 per annum (£ 8,000/week).
  • Current Opening Hours: Tue – Fri (6pm-10pm) &  Sat (12:30pm–3:30 pm & 5pm–10 pm) .
  • We have been informed that the restaurant have Head chef, Full-Time Sous Chef and Part-Time Sous Chef, Manager, Assistant Manager and Part-Time Waiter/Waitress

THE LOCATION

  • Church Street, Stoke Newington, N16
  • Vibrant neighbourhood
  • Several independent cafes & restaurants making it a vibrant eatery destination

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.

Read more

Contact Agent

Contact the seller for more details, or book a viewing

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

Do not 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 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.

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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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Disclaimer

The data showed regarding this advert 'Restaurant for Sale in Stoke Newington – 32Covers, Premises licence & Revenue of £8000 Weekly - STOKE_NEWINGTON_RESTAURANT / 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.