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Established Licensed Restaurant In Bicester Town Centre For Sale

Bicester, Oxfordshire, UK
Asking Price:
£80,000
Turnover:
£171,778
Net Profit:
Available on request

Opportunity to purchase a well-known licensed restaurant, located in a prime trading position overlooking the Market Square in the centre of Bicester. The business currently specialises in Indian cuisine although the size and location of the premises also lends itself suitable for various alternative cuisines.

We are informed that an alcohol licence is held although a copy has not been inspected.

Key features:
- Busy central location in market square of developing Oxfordshire town
- Resident population 32,642 in 2011, projected to increase to 60,000 with 10,000 new homes to be built by 2031
- Premises also suitable for other cuisines
- Deceptively spacious ground floor premises
- Well-presented 809 ft.² air-conditioned dining area seating up to 70 covers plus toilets, kitchen, cold room, boiler room, store room and rear yard
- Convenient public car parking immediately outside
- Held on 25 year lease from 2003 – net rental £15,000 per annum
- Internal inspection strongly recommended - at the request of the vendor, strictly by prior appointment only through Business Partnership

Property Information

Property:

Leasehold

Lease Terms:

The premises are held on a renewable 25 year lease from 1st July 2003 subject to rent reviews every 5th year at a passing rent of £30,000 per annum, exclusive of rates. However, the premises include an adjacent retail unit which has been sub-let for 20+ years on a contemporaneous lease generating a rental income of £15,000 per annum, exclusive of rates. The net rent payable by the restaurant is therefore only £15,000 per annum, exclusive of rates.

Location:

Busy central location in the rapidly expanding north Oxfordshire town of Bicester.

Premises Details:

Deceptively spacious ground floor premises.

Size in square feet:
1,313

Business Operation

Years established:
25