Restaurant for Sale with Catering Hall in East London
Property ID: RPS-23045
PROOF OF FUNDS REQUIRED: All interested buyers must be able to provide proof of funds before requesting viewing.
MAIN DETAILS
Spacious restaurant with catering hall in East London
Ideal for parties, weddings & ceremonies
Approx. 3,687 sq. ft total area with a capacity for up to 270 guests
Fully fitted commercial kitchen
Premises licence in place
Business for sale & lease assignment
LANDLORD’S REQUIREMENTS
Guarantor required (subject to references)
6 month’s rent deposit required (subject to references)
Other usual checks will be carried out
LEASE DETAILS
Lease: Ending March 2030 (Option of new lease)
Current rent: £50,400 per annum exclusive
Rent review: Every 3 years
Next rent review: March 2027
Premium: £499,000 (Business, Lease & fixtures and fittings)
THE PREMISES
Total area circa 3,687 sq. ft
Restaurant & bar circa 90
Wedding hall for 180 guests
Fully fitted commercial kitchen
Premises licence in place
New Rateable Value: 72,500
Payable business rates: Circa £34,800 (tbc)
THE BUSINESS
We have been informed that both the restaurant and wedding business generates gross revenue of circa £780,000 per annum (£15,000/week)
THE LOCATION
Ilford, East London
Car park available nearby ideal for wedding & parties
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.
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. Neither the firm nor any of its employees has any authority to make or give, any representation or warranty whatever in relation to this property.
