Leasehold Indian restaurant with 5-bed accommodation in South Croydon London
South Croydon, London
- Status
FOR SALE
- Advert ID
655072
- Reference
C1250 / Rightbiz
- Call Agent:
- Leasehold: £135,000
- Turnover: £260,000 (£5,000 per week)
- Profit: Not Applicable
Business Details
LEASEHOLD LIC. INDIAN RESTAURANT SELF CONTAINED 5 BED ACCOMMODATION OVER SUITABLE AS AN HMO
ADVERT TEXTLEASEHOLD LIC. INDIAN RESTAURANT
SELF CONTAINED 5 BED ACCOMMODATION OVER SUITABLE AS AN HMO
LOCATION
In a busy main road location close to Sanderstead mainline station serving a vast well populated residential area.
BUSINESS
This is a well established concern which has been in the same families hands since 1992 and is only now for sale due to ill health. We are informed that the business has taken considerably more in the past before covid and the vendors health deteriorated. Although presented as an Indian the premises would be suitable for a wide range of alternative styles if desired.
The self contained accommodation above can be sublet to cover some or all of the rent of the whole premises. It requires a Fire alarm system and Risk assessment in order to operate as an HMO.
TURNOVER
We are advised the current turnover is £5,000 pwk @ 65% GP.
We are also informed that the business previously took in the region of £10,000 pwk pre covid.
STAFF
2 vendors plus 3 staff
HOURS
4.00pm - 10.30pm Mon to Sat
12.00pm - 10.30pm Sun
PREMISES
Parade shop unit with single frontage and entrance fitted with electric Sun blind and steel roller shutter. Restaurant area: Attractively decorated and fitted with 36 covers. Air conditioning unit. Separate Ladies & Gents WC facilities each with hand wash basin. Servery counter to rear fitted with Music system. Epos till. st/stl hand basin, Shelving, dble fronted chilled drinks display unit. Stairs to Large Basement: Dry and used for storage, Shelving and glass fronted drinks chiller. Door from Servery to Kitchen: Fully tiled and fitted with large 9 ring range with st/stl extractor unit above. Tandoori oven, st/stl work tops, 2 microwave ovens, electrocutor, dble st/stl sink. Store Room: 3 chest freezers, ice cream fridge, upright st/stl fridge, 3 upright freezers. Door to rear Parking area for 2 vehicles/Bin store.
LIVING ACCOMMODATION
Self contained 5 bed accommodation arranged over the first and second floors comprising 5 bedrooms, Kitchen and 2 bathrooms. The rooms can be let at between £750-£800 pcm.
TENURE
New 15 year lease to be granted to the ingoing tenant. Rent £42,000 per annum. (5 year reviews)
EPC RATING
Band D
BUSINESS RATES
Nil payable
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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.
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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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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.
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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.
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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.
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.
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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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