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Hornchurch Essex Authentic Italian Restaurant For Sale

UK
Asking Price:
£130,000
Turnover:
Available on request
Net Profit:
£47,610

Within a part-grade II listed building, comprising a 60-cover Restaurant which has been in the same family hands for 30+ years,. Open over a 5-day week and showing an operating profit of over £47,000! Just outside the core Town centre and nestled between a renowned Oriental Restaurant & Prezzo.

Features:
Delightful Part Grade II Listed Building
Just Outside Core Town Center
Covers For 60 max
Approx. 776 sq. ft. overall
Rear Parking Facilities
In Same Family Hands 30 Years

Trading Accounts:
The accounts of the business for the year to October 31, 2023 show sales of £317,076 with an operating profit of £47,610.

Tenure/Rent:
Leasehold. A renewable lease was granted from March 25, 2006, until December 7, 2030, at a passing rent of £20,000 pa.

Business Rates:
The most recent rating assessment shows an adopted value of £19,000, resulting in business rates payable of approx. £8,500 p.a. less any transitional relief.

Legal Fees:
Both parties are to be responsible for their own legal fees.

Property Information

Property:

Leasehold

Lease Terms:

Leasehold. A renewable lease granted from the 25th March 2006 until the 7th December 2030.

Leasehold Rent:

£20,000 per annum

Premises Details:

Property:
A part grade II listed building, the ground floor in approx. 776 sq.ft., the seating area accounting for 562 sq.ft. of this, the balance being the kitchen 205 sq.ft. plus storage & ladies & gents WC's. A loft which is accessed via a loft ladder only provides further storage of some 267 sq.ft. To the rear there is shared parking with a Restaurant next door, for 6 vehicles, on a 'first come first served' basis.

Business Operation

Trading hours:

The Restaurant is open Wednesday to Saturday from 5pm till 10pm and on Sundays from 12 noon till 4pm.

Employees:
Staff:The business is run by a husband & wife partnership with 3 full time and 3 part time staff.

Other Information

Related Documents: