Korean Restaurant for Sale. Fitted In-Table Charcoal Skewer Grills
Property ID: RPS-23418
PROPERTY & BUSINESS SNAPSHOT
Type: Korean Restaurant with fitted in-table skewer grills
Location: East London (Confidential Sale)
Lease expiry: Ending in April 2033 (Inside the 1954 Act)
Rent: £50,000 + VAT p.a. exclusive
Rent review: Every 5 years with next review due in April 2028
Floor area: 969 sq. ft
Covers: Circa 54 covers (34 ground floor & 20 private dining)
Rateable value: 25,250
Business rates payable: Circa £9,645.5 per annum
Permitted use: Restaurant (Class E)
Annual Turnover: Circa £360,000 (Circa £7,500/week)
Ancillary: Gas, extraction and premises licence in place
Premium: £120,000 (Business, Lease & FF&E only)
LEASE & LANDLORD’S REQUIREMENTS
The opportunity is offered by way of assignment of the existing lease, which expires in April 2033 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
Restaurant provides approximately 54 covers (including private dining) with gas, extraction and premises licence in place, along with in-table charcoal skewer-grilling equipment.
We have been informed that the business currently generates an annual turnover of circa £360,000 averaging £7,500 per week.
Our client manages the business with 3 full time staff and 2 part time staff members.
THE LOCATION
Situated in a vibrant and established East London hospitality destination, benefiting from strong local footfall and proximity to popular commercial and leisure areas.
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.
