Established Licensed Indian Restaurant In The West Midlands For Sale

Business description

Located on a busy main road in an affluent suburb, this 60 cover restaurant, established over 17 years, has takings in excess of £2,000 pw at a gross margin of 66%. Beautifully equipped to high standard. Owner retiring wishes to create lease with rent in the region of £25,000.

Property information

Property:

Leasehold

Location:

LOCATION
The business is located in a busy and popular shopping area which is situated on a main road in the affluent suburb of Shirley in the West Midlands, just South of Birmingham. This is a thriving area with the road itself containing many shops, public houses, banks, building societies and supermarkets and is a very popular eating venue in the evenings. Although there is no parking on the main road, Shirley itself has numerous car parks and a large one is situated immediately at the rear of the restaurant which allows 3 hours free parking.

BUSINESS PREMISES
These consist of a two storey end terraced property with the restaurant on the ground floor. This has a modern glazed frontage to the main road with glazed entrance door to the left leading into a small reception and bar area which has a ceramic tiled floor and fully equipped bar with draught beer/lager pumps. This area leads to the main carpeted restaurant area which has seating for 60 customers, is well decorated, the lighting being provided by ceiling mounted, dimmable down lighters. The total restaurant and bar area measures approximately 45ft 6ins x 16ft (725sq ft). At the rear of the restaurant there is a wide corridor with ceramic tiled floor measuring approximately 5ft 10ins x 17ft 10ins (103sq ft) which is equipped with upright wine display chiller, a small chest freezer and off which, there are ladies and gents wc's, the under stair beer pump room, stairs to upper floor, emergency exit door to side of property and door to the kitchen. This measures approximately 22ft x 10ft 6ins (233sq ft) and has ceramic tiled floor and white tiled walls. It is equipped with one 8 burner and one 4 burner cooker both with ovens under, a Tandoori oven, full extraction units, large double stainless steel sinks with drainers, wall mounted hand wash sink, 2 double stainless steel warming cabinets, one stainless steel work table, large double stainless steel fridge and microwave. There is an exit door leading to the side of the property.

The upper floor is accessed by the above mentioned stairway which leads to a corridor off which there are a total of five rooms which were, obviously in the past, living accommodation but are now used only for storage and are in need of refurbishment. It may be possible, with planning permission, to restore this floor back to its former use but we are informed that it currently has planning permission for office use only. The first room off the corridor is 'L' shaped and measures approximately 19ft x 11ft max (6ft 8ins min) this is equipped with various shelving, an upright fridge, a double chest freezer, a hot water boiler and tank. There are three further rooms measuring approximately 7ft x 7ft 6ins, 12ft x 8ft 6ins and
12ft 9ins x 8ft respectively. The corridor ends at a large "lounge" measuring approximately 16ft x 15ft with bay window overlooking the main road.

THE BUSINESS
This was established by the vendor's family over 17 years ago and has built up an excellent reputation in the area and has a good loyal customer base. It trades as a restaurant serving high class Indian cuisine and is licensed to serve wines, spirits and beers. We are informed that the turnover is in excess of £2,000 per week at a gross margin of 66%.

HOURS
Sunday to Thursday 5.30pm - 11.30pm
Friday and Saturday 5.30pm to late

STAFF
We are informed that the restaurant is run by the aid of 7-8 members of staff with a wage bill in the region of £23,000 per annum.

TENURE
The vendor now owns the Freehold but wishes to create a lease with a term suitable to the new tenant's requirements.

RENT
The vendor is asking for a rent in the region of £25,000 per annum.

RATES
We are informed that the rates are £12,000 per annum.

OWNER NOW WISHES TO RETIRE.