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Scope For Lunch Time Trade
Latest Accounts to 31st July 2017:
Annual Turnover £183,536
Gross Profit £111,961
Customer Seating for 50
40% Takeaway 60% Restaurant Sales
Ran Under Management
Potential For First Floor Living Accommodation
Free Of Tie
5* Food Hygiene Rating
EPC - D
REF 6319 – Leasehold Contemporary Indian Restaurant
Blacks Brokers are pleased to bring to the market this leasehold contemporary Indian restaurant located in the much sought-after area of Wanstead, Greater London.
The Lane has been trading on Nightingale Lane for a number of years with our client in ownership since 2012. The restaurant has a large base of regular customers and a superb reputation with a five-star hygiene rating and good online reviews. At present, around 40% of custom is from takeaway orders.
Located on Nightingale Lane in Wanstead, East London, the business is positioned within a busy parade of shops and other businesses close to a densely populated residential area. Wanstead is well linked by the A12 and The North Circular Road and close to Epping Forest. Public transport links are excellent with Snaresbrook Underground Station and Wanstead London Underground Station within walking distance and parking is available immediately outside the property.
REASON FOR SALE
The business would be ideally suited to a hands-on owner-operating team but is currently operating mainly under management due to the demands of our client’s other business commitments being higher than anticipated. Therefore, the business is offered for sale and presents an excellent opportunity for a new owner-operating team to take the business to the next level.
The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is twenty years with rent reviews every five. The current lease began in 2007 at a cost of £442 per week.
BUILDING LAYOUT AND DESIGN
The Lane operates from the ground floor of a very well-presented, mid-terraced property within a parade of shops and other local businesses. The business has large signage on display with matching canopy cover and partially glazed frontage. Inside, the main restaurant offers seating for fifty, with wooden flooring throughout and contemporary décor. There is a nicely presented bar to the left which is well-stocked and fitted with electronic till. The commercial kitchen is positioned to the rear of the restaurant and is very well-equipped with tandoor oven, ten-hob cooker, double ovens and much more. Customer toilets are also positioned to the rear of the main restaurant area.
The first floor of the property is currently used as storage but was once used as a studio flat – this could be used as accommodation again with some renovation.
The business is currently operating with eight full-time and two part-time members of staff in employment – this includes management.
The Lane has traded solidly since opening. We are advised that the business currently has annual turnover of £183,536 with gross profit of £111,961.
This leasehold business is well-established and has a large base of customers in place. There is plenty of scope to develop the business further with the introduction of a delivery service and marketing in the local area along with a website to include online ordering. Partnerships with websites such as Just Eat, Uber and Hungry House may also be of great benefit. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.
Mon - 5:30pm–11:30pm
Tues - 5:30pm–11:30pm
Wed - 5:30pm–11:30pm
Fri - 5:30pm–11:30pm
Sat - 5:30pm–11:30pm
Sun - 5:30pm–11pm
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