A very long-established Chinese takeaway business, which has been owned and operated by our client for in excess of 20 years, is now bringing the business to market with a genuine reason for sale due to his retirement. Strong established turnover supported by highly profitable set accounts, with the most recent year ending March 31, 2022, confirming a reconstituted net profit in excess of £85,000. The business is being sold with all fixtures, fittings and equipment included within the sale price, which includes a large walk-in freezer. The premises has low overheads, further benefiting from zero business rates payable. Viewing recommended. OUR REF: RX258026
Location
The premises is situated in a good trading location, providing good levels of passing trade and also benefiting from free lay-by parking directly to the front of the shop. The parade of shops from which the business trades has various other business types, including a Spar convenience store, pharmacy and a beauty salon.
Tenure
7 years unexpired on the lease at a current rental of £12,300 per annum exclusive.
Premises
A terraced retail shop with awning over, half-glazed frontage and glazed single entrance door leading into the premises, which measures approximately 645 sq. ft. (60 sq. m.), is arranged as follows:
Takeaway Area
with chessboard-style chequered floor, strip lighting, customer seating area, menu board, electric heater, serve-over counter and till. An opening behind the counter leads through to the kitchen, which has a commercial extractor system, stainless-steel prep tables, rice cooker, microwave, large fryer, 9-burner range, 6-burner range, two chest freezers, stainless-steel large fridge and fly-zapper.
Prep Room
At the rear of the kitchen, there are two doors off; one leads into a PREP ROOM with stainless-steel double sink, stainless-steel prep table, wash-hand basin, shelving, two rice cookers and fly-zapper
Store
The other door off the kitchen leads through to a LEAN-TO STORE with WC, walk-in freezer and various shelving. A door at the rear of the lean-to store takes you outside onto a walkway, which leads to a rear service road with bin storage.
Staff & Trading Hours
The business is run by the vendor, with the assistance of a full complement of staff. The business trades six days a week, closed on a Tuesday, with the opening hours on the other days being 12 pm to 2 pm and 5 pm to 10 pm.
Turnover
We are advised turnover averages £6,000 per week, working to the usual high gross profit margins associated with the trade. Year ending March 31, 2022 accounts confirm a strong reconstituted profit in excess of £85,000. Full financial information will be disclosed after a viewing of the business, with the client's permission.
Business Rates
The premises are subject to a rateable value of £5,700, resulting in zero business rates payable should small business rate relief apply to a purchaser.
Legal Costs
Each party is to be responsible for their own, with the landlord's legal costs to be split 50/50.
Summary
This is a great opportunity to acquire a very long-established business with a highly profitable set of trading accounts. Viewing recommended.
Disclaimer
While every care is taken to ensure that these particulars are correct, accuracy is in no way guaranteed, and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose; otherwise, the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
