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Well-Established Highly Profitable Asian Restaurant In Hertfordshire For Sale

Hertfordshire, UK
Asking Price:
£545,000 Furniture / Fixtures included
Turnover:
£1,456,000
Net Profit:
£160,000

This well established restaurant occupies spacious, double fronted premises of approximately 2,500 sq. ft. in an excellent town centre trading position, close to Bishop's Stortford.

The well appointed, air conditioned dining area comfortably accommodates approximately 100 customers and is supported by a fully fitted commercial kitchen. Equipment includes a 6+2 wok burner Chinese cooking range, extraction and ventilation system, walk in cold room, Rational combi oven, and a range of quality fridges and freezers.

The business has been successfully operated by the same owners for more than 35 years and has built an excellent reputation together with a loyal and well established clientele.

Currently trading six days a week, the restaurant offers both dine in and takeaway services. The sale also includes two spacious flats above the premises, which are currently used as staff accommodation.

A new lease will be available to an approved buyer at a commencing rent of £63,000 per annum.

Further information, financial details and photographs will be made available to registered buyers following the signing of a Non Disclosure Agreement.

The asking price includes the new lease, goodwill, fixtures and fittings, with stock at valuation.

Property Information

Property:

Leasehold

Lease Terms:

New Lease 20 year term

Leasehold Rent:

£63,000 per annum

Business Operation

Expansion Potential:

Excellent expansion potential, with scope to extend trading to 7 days a week, as operated previously, and increase revenue through an expanded takeaway and delivery service. The business is already profitable, providing an established platform from which a new owner could further increase sales and profitability.

Reasons for selling:

Retirement