Greek Restaurant for Sale in Wellingborough
Property ID: RPS-23412
PROPERTY & BUSINESS SNAPSHOT
Type Family Owned Greek Restaurant
Location Established trading area in Wellingborough
Lease expiry Ending in 2031
Rent £20,000 + VAT p.a. exclusive
Service Charge £3,000 + VAT per annum
Rent review Every 5 years with due this year
Floor area 920 sq. ft
Covers Circa 54 covers
Rateable value 19,750
Business rates payable £7,544 per annum
Permitted use Restaurant (Class E)
Annual Turnover Circa £624,000/annum (circa £12,000/week)
Ancillary 3 phase electricity, gas, extraction and premises licence in place
Premium £240,000 (Lease & FF&E)
LEASE & LANDLORD’S REQUIREMENTS
The opportunity is offered by way of assignment of the existing lease, which expires in 2031 and we understand the lease is granted inside the security of the Landlord and Tenant Act 1954.
The landlord requires:
Rent deposit, subject to references
Satisfactory completion of the landlord’s usual referencing and due-diligence procedures.
MAIN DETAILS
Benefits from an established local trading area surrounded by residential communities and local amenities.
Restaurant provides approximately 54 covers with 3 phase electricity, gas, extraction and premises licence in place.
We have been informed that the business currently generates an annual turnover of circa £624,000, equivalent to approximately £12,000 per week.
Our client manages the business with his 3 family members and other 4 part time staff.
THE LOCATION
The location offers excellent potential to attract regular customers and grow dine-in, takeaway and delivery sales.
VIEWINGS & CONFIDENTIALITY
All interested buyers must have proof of funds to meet the premium and landlord’s requirements. All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client.
Strictly through Restaurant Property Sellers only. By using our website, you agree with our Terms & Conditions.
DISCLAIMER
The above information is provided by the seller and are issued without responsibility on the part of the firm therefore are not to be relied upon as statements of facts. Any intending purchaser must satisfy themselves as to the correctness of each statement. The firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property.
