Olde Worlde Licensed Restaurant For Sale

Business description

Outstanding opportunity to acquire an attractive Licensed Indian Restaurant in this sought after Oxfordshire locality, close to the Cotswolds.

The Cotswold Stone property has a wealth of oak beams and full oil fired central heating.

Ground Floor ATTRACTIVE RESTAURANT with oak beams, newly carpeted. Tables and chairs providing seating for 34 persons. Bar with hand pump, optics, glass washer, sink.

Stairs to First Floor additional Restaurant, fully carpeted. Tables and chairs providing seating for an additional 22 persons.

Ladies' cloakroom with 2 w.c's, wash hand basin plus dryer
Gentlemen's cloakroom with urinal, wash hand basin and dryer

Ground Floor level kitchen with non-slip floor. Fully equipped including 9-burner gas cooker, Tandoori oven, stainless steel extractor, stainless steel cladding to walls, 2 microwave ovens, 1 stainless steel table, hot cabinet, ice cream deep freeze (owned), 2 chest deep freezes, double sink and drainer, dishwasher, walk-in coldroom etc.

Property information

Property:

Leasehold

Lease terms:

We understand the premises are held on a secure renewable lease, the present lease having approximately 13 years unexpired at a rental of £25,000 p.a. exclusive of rates for the next 3 years, with rent review at that time and thereafter every 5 years.

Uniform Business Rates: £9,500 p.a. approx. + water rates

RECOMMENDED FOR EARLY INSPECTION

Living accommodation:

The SELF CONTAINED accommodation with FULL GAS FIRED CENTRAL HEATING is at present used by staff and comprises: 2 Bedrooms (1 double, 1 single) Bathroom with bath, w.c. and wash hand basin

Location:

Excellent trading position, sought after OXFORDSHIRE

Other information

Expansion potential:

WE ARE INFORMED the turnover currently averages £6,000/£7,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Gross profit 65/70% approx.

Reasons for selling:

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £160,000 NO OFFERS plus STOCK AT VALUATION SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

12 noon - 2 p.m. & 6 p.m. - 11 p.m. seven days per week

Financing available:

SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.