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Established Korean Restaurant And Bar In Angel For Sale

Islington, London, UK
Asking Price:
£99,500 Furniture / Fixtures included
Turnover:
£406,127
Net Profit:
On request

Confidential sale of an established and currently trading Korean restaurant and bar in the popular Angel / Islington area of North London.

The business occupies a well-positioned leasehold premises in a busy location, benefiting from strong residential, office, evening and weekend trade.

The premises are fully fitted for restaurant and bar use, with a commercial kitchen, extraction system, dining and bar areas, fixtures, fittings and operational equipment. The business also benefits from a premises licence for the sale of alcohol.

Annual turnover is approximately £406,000, and the business has an established customer base together with a strong online and social media presence.

The proposed sale includes the goodwill of the trading business, fixtures and fittings and the benefit of the existing lease, subject to any required landlord consent.

The owners are selling as part of a wider restructuring of their business interests and to simplify their current business commitments.

A reasonable handover period can be provided to assist the incoming owner with suppliers, systems and day-to-day operations.

Further financial information, lease details and viewing arrangements can be provided to serious and financially qualified purchasers. The sale is being handled on a strictly confidential basis and interested parties are requested not to approach staff or the premises directly.

Offers invited.

Property Information

Property:

Leasehold

Leasehold Type:
Existing
Lease Terms:

Leasehold premises with a current annual rent of approximately £30,000 plus VAT. Any assignment will be subject to the terms of the existing lease and the landlord's consent. Full lease documentation and further details can be made available to serious purchasers.

Leasehold Rent:

£30,000 per annum

Location:

The business is situated in the popular Angel / Islington area of North London, close to Angel Underground Station, Chapel Market and Upper Street. The area benefits from strong residential, office, daytime, evening and weekend trade, with a wide range of restaurants, cafés, bars, shops and local amenities nearby.

Premises Details:

Well-presented leasehold restaurant and bar premises arranged over ground floor and basement levels. The premises are fully fitted for continued hospitality use and include dining and bar areas, a commercial kitchen, extraction system, storage and operational fixtures and fittings.

Planning Consent:

The premises are currently used as an established restaurant and bar. Further planning and permitted-use information can be provided to serious purchasers as part of the legal due diligence process.

Business Operation

Management type:
This business is owner operated.
Expansion Potential:

There is potential for an incoming operator to further develop the business through extended marketing, social media, delivery and takeaway sales, events, private bookings and further development of the food and drinks offering. The premises could also suit an alternative restaurant or hospitality concept, subject to the necessary consents.

Competition / Market:

Angel and Islington have a strong and diverse restaurant and hospitality market with a wide range of independent and established operators. While there is competition, the area benefits from consistently strong demand for dining and evening trade, and the Korean food and bar concept provides a distinctive offering within the local market.

Reasons for selling:

The owners are selling as part of a wider restructuring of their business interests and to simplify their current business commitments.

Trading hours:

Currently trading throughout the week, including evening and weekend periods. Full current opening hours are available on request.

Employees:
7
Years established:
7

Other Information

Support & training:

A reasonable handover period can be provided to assist the incoming owner with suppliers, systems, key operational processes and the day-to-day running of the business. The exact level and duration of support can be agreed as part of the sale.