Greek Restaurant for Sale in Wellingborough with 54 Covers and Lease Until 2031
Wellingborough, Northamptonshire
- Status
FOR SALE
- Advert ID
659684
- Reference
RPS-23412 / Rightbiz
- Call Agent:
- Leasehold: £240,000 (Stock at valuation)
- Rent: £20,000 (£1,667 per month)
- Turnover: £624,000 (£12,000 per week)
- Profit: Not Applicable
Key Features
- Includes fixtures and fittings
- Fully fitted restaurant premises
- Goodwill and fixtures included
- Takeaway service availability
Business Details
Greek Restaurant for Sale in Wellingborough
Greek Restaurant for Sale in Wellingborough
Property ID: RPS-23412
PROPERTY & BUSINESS SNAPSHOT
Type
Family Owned Greek Restaurant
Location
Established trading area in Wellingborough
Lease expiry
Ending in 2031
Rent
£20,000 VAT p.a. exclusive
Service Charge
£3,000 VAT per annum
Rent review
Every 5 years with due this year
Floor area
920 sq. ft
Covers
Circa 54 covers
Rateable value
19,750
Business rates payable
£7,544 per annum
Permitted use
Restaurant (Class E)
Annual Turnover
Circa £624,000/annum (circa £12,000/week)
Ancillary
3 phase electricity, gas, extraction and premises licence in place
Premium
£240,000 (Lease & FF&E)
LEASE & LANDLORD’S REQUIREMENTS
- The opportunity is offered by way of assignment of the existing lease, which expires in 2031 and we understand the lease is granted inside the security of the Landlord and Tenant Act 1954.
The landlord requires:
- Rent deposit, subject to references
- Satisfactory completion of the landlord’s usual referencing and due-diligence procedures.
MAIN DETAILS
- Benefits from an established local trading area surrounded by residential communities and local amenities.
- Restaurant provides approximately 54 covers with 3 phase electricity, gas, extraction and premises licence in place.
- We have been informed that the business currently generates an annual turnover of circa £624,000, equivalent to approximately £12,000 per week.
- Our client manages the business with his 3 family members and other 4 part time staff.
THE LOCATION
The location offers excellent potential to attract regular customers and grow dine-in, takeaway and delivery sales.
VIEWINGS & CONFIDENTIALITY
All interested buyers must have proof of funds to meet the premium and landlord’s requirements. All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client.
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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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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