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West London Chinese Restaurant Turnover £1.6million. Price £600k For Sale

West London, London
Asking Price:
£500K - £1M
Turnover:
£1M - £5M
Net Profit:
£50K - £100K

Business Financials
• Lease till 2020 with extension until 2027 upon reassignment
• Gross business turnover £1.6K million per annum
• 13 years accounts available
• 13 years business goodwill
• Annual rent - £144,000 per annum subject to rent review
• Service charge - £24,700 per annum
• Business rates - £66,000 per annum

Premises
• 300 seater Chinese buffet style restaurant
• Takeaway buffet separate
• Premises, A3 licensed restaurant
• 25 - 30 full / part time staff
• 700 free parking space (5 hours free parking)
• Premises 248 sq m or 3000 square footage comprises of kitchen area with 10 ring wok-cooker, pass through dishwasher, extraction canopy, 3 deep fryers, 3 walk in chillers and freezers, tea preparation room, bottle refrigeration, under bar keg cooler system, 4 buffet cold / hot carts.
• Restaurant, operational bar with draft beer lines, two private karaoke rooms, bar area.
• Tri-lingual Chinese/Mandarin/English till system. Air condition.
Reason for sale
• Family-run business for over 13 years, retirement.

Location
• Primary West London location in leisure park close to Vue Cinema, Tenpin bowling within Old Oak London development area.
• Access via main artery road A40 Western Avenue, directly into city centre and Heathrow airport.
• Quick access to M4 motorway and A406 ring road.
• London underground stations Park Royal & Hangar Lane

Customers
• Target audience and key business service areas Park Royal industrial & business park, Southall, Hayes, Wembley, Harrow, Ealing, Acton, Hammersmith areas.
• Business and residential customers.
• Averages spend £25 per sitting (limited to 1.5 hour).
• Weekend footfall 1000 people per day

Mezzanine
• 1st floor office space 99sq footage.
• Local council planning approval and landlord consent for office space extension.

Further potential revenue stream
• Takeaway deliveries
• Extension of buffet & menu into pan-Asian dishes.
• Noodle bar not utilised.
• Private function rooms & banquet marketing
• Company / office parties and events catering marketing
• 1st floor office space potential for training rooms or other business ventures

Trading Hours:
Monday to Friday 12pm - 3pm, 5:30pm - 11pm
Saturday, Sunday, Public Holidays 12pm - 4.45pm, 5:30pm - 11:30pm

Number of Employees: 20 full and part time

Tenure: Leasehold (renewable)

Location Details: Situated close to Old Oak Common Development includes business park, 2 new hotels, car dealerships, office / residential development and cross rail.

More information available upon request, please contact seller below for further details.

Property information

Property:

Leasehold

Lease Terms:

25 years expires 2020
Renewable
Commercial landlord with long term plans for future aligned with Old Oak Development and Ealing Borough Council

Leasehold Rent:

£144,000 per annum

Location:

West London. Prime leisure park location with cinema and bowling alley.
Off A40.
5 mins to Park Royal and 15 min to Hangar Lane underground station (walk).
Close to business park and Old Oak Common Regeneration Project.

Premises Details:

Within leisure park facilities cinema, bowling alley, and other franchiese food outlets

Size in square feet:
7,500
Planning Consent:

A3 licenced restaurant
Planning permission & landlord consent for first floor mezzanine for office space and 3 meeting rooms (99sq ft)

Business Operation

Expansion Potential:

Planning permission for first floor mezzanine for office space and 3 meeting rooms (99sq ft)
Temporary office space already available for extension
Takeaway deliveries
Update and expand food menu options
Size of restaurant exploited for banquets and events.

Competition / Market:

Aroma

Reasons for selling:

Retirement

Trading hours:

Monday to Friday 12pm - 3pm, 5:30pm - 11pm
Saturday, Sunday, Public Holidays 12pm - 4.45pm, 5:30pm - 11:30pm

Employees:
20
Years established:
13

Other Information

Furniture / Fixtures value:
£45,000
Inventory / Stock value:
£20,000

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