Location: Profitable Restaurant & Lounge based in North London surrounded by retail stores, schools, and residential locations. Situated 2 min away from the train station and bus stop making it an easily accessible location.
Genuine Retirement Sale
Overview: An opportunity to acquire this well-established restaurant business comes with a garden serving high-quality Turkish food. It run by a family for more than 15 years now, The perfect setting for people with good taste to indulge and socialize.
Additionally, The restaurant comes with seven studio flats above and is currently occupied by family members but can be easily converted into an Airbnb or B&B accommodation and can achieve a total rental income of £84,000 Per Annum. The restaurant has a large bar and indoor seating of 150 covers and up to 100 outdoors, a place that can be good for parties or get-togethers.
Business can be significantly increased by arranging events or hosting parties, Engagement ceremonies, and receptions & future owners may include new food items on the menu that will complement the existing business model.
The property has immense potential for growth and profitability with a large garden, indoor seating, and seven studio flats.
Seat covers: 250 (room for 499 covers)
License for sitting at a time: 500 people
Turnover: To be disclosed at the viewing.
Rent: £46,000 P.A.
Rates: £2000 P.A.
Lease: 7 years lease remaining (renewable lease under the Grandfather clause -25 years)
Current Opening Times: Tuesday to Thursday 12:00 AM to 11:00 PM (Monday closed)
Additional Potential: Oncoming buyers can increase the trading hours which will help to boost sales even further.
License Timings: 10:00 AM to 12.30 AM (Sunday to Thursday) & 10:00 AM to 1.30 AM (Friday and Saturday)
Leasehold Price: £350,000 plus SAV & also FREEHOLD AVAILABLE
For further information, please contact the BTC Commercial and Investment team at ---- --- ---- or [email protected].
Tenure: Leasehold
