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Newly Refurbished 100 Cover Restaurant in Busy Cheltenham For Sale

Cheltenham, Gloucestershire, UK
Asking Price:
£149,500
Turnover:
£600,000
Net Profit:
Undisclosed

This newly refurbished Chinese restaurant in central Cheltenham offers seating for 100 guests, with a ground floor dining area for 60 and a first-floor space for 40, complete with a private bar. The basement houses a well-equipped kitchen with a food lift for efficient service. The second floor features five bedrooms, a toilet, and a shower room, accessible via external stairs. The restaurant is highly rated for its regional Chinese cuisine and also operates a popular takeaway service.

Key features:

  • Prime town centre location.
  • Newly refurbished four storey premises.
  • Total seating capacity of 100.
  • Second floor accommodation with 5 bedrooms.
  • Successful takeaway service.
  • Highly rated across multiple platforms.
  • Decorated to a high standard throughout.
  • Suitable for a wide range of cuisines.

Property Information

Property:

Leasehold

Lease Terms:

The premises are held on a fully repairing and insuring 20-year lease commencing 1st August 2023, with a passing rent of £55,500 per annum, exclusive of rates. The lease includes rent reviews on 1st August 2027 and every fourth anniversary thereafter, as well as tenant break options on 1st August 2028 and 1st August 2033.

The landlord requires a rent deposit equivalent to six months' annual rent, to be held for the duration of the tenant's occupancy. Purchasers should factor this requirement into their financial forecasts and budgets.

Living Accommodation:

Second floor accommodation with 5 bedrooms.

Location:

Cheltenham town centre.

Premises Details:

4 storey terraced property.

Business Operation

Reasons for selling:

Our clients wish to pursue other business interests.

Years established:
40