Leasehold Lic Daytime Restaurant In Tenterden - Kent For Sale

Business Description

LOCATION
Prominently situated occupying a prime trading position in the high street of this prosperous Kent Town, drawing trade from over a wide catchment area. The business enjoys excellent all year round trade.

BUSINESS
This is a well established concern which has been in the present hands for 20 years and which is now only being marketed as a result of the Vendors wish to retire. Tremendous potential exists for longer opening hours, especially evenings.

TURNOVER
£484,000 P.A. net of VAT @ 71% G.P. Year end --.--.----£510,000 P.A. net of VAT @ 71% G.P. Year end --.--.----£514,752 P.A. net of VAT @ 73.84% G.P. Year end --.--.---- (£90,214 Net)
£524,975 P.A. net of VAT @ 75% G.P Year end --.--.---- (£64,506 Net after £168,000 wage bill)

STAFF
8 full time 6 part time WAGES £168,000 P.A (Approx)

HOURS
9.00am - 5.00pm Mon to Sat
10.00am - 5.00pm Sun

PREMISES
Imposing Grade II listed, corner premises with 2 sep. front entrances to Restaurant Area: Charming décor throughout featuring an abundance of original exposed wall and ceiling timbers and a delightful inglenook fireplace. 90 total Covers (Including first floor seating area.) Hallway: Sep Ladies and Gents W.C's. Baby Change Room: Wash up Area: st/stl sink, dishwasher. Kitchen: 6 burner range and oven, double fryer, griddle, grill, 4 commercial microwave ovens, under counter refrigeration, 3 upright chillers. Prep Area: st/stl sink, dishwasher, 3 upright chillers, chest freezer. Staff Room: Staff W.C. First Floor: Further Restaurant area: Second Floor: Office: Store Room: OUTSIDE: Parking for 1 car at rear. Delivery access.

LIVING ACCOMMODATION
Self Contained 3 bedroom Flat (Sublet producing £1,000 PCM)

TENURE
21 year lease from 1st Jan 2005. RENT £82,000 P.A. (5 year reviews)
The landlord is happy to discuss a new lease on expiry of the current lease. Rent negotiable, current market rent believed to be around £72,000 pa.
The Freehold is also available at an asking price of £825,000.

EPC RATING
Not required

BUSINESS RATES
£25,000 P.A. (Payable)

Property Information

Property:

Freehold

Premises details:

Imposing Grade II listed, corner premises with 2 sep. front entrances to Restaurant Area: Charming décor throughout featuring an abundance of original exposed wall and ceiling timbers and a delightful inglenook fireplace. 90 total Covers (Including first floor seating area.) Hallway: Sep Ladies and Gents W.C's. Baby Change Room: Wash up Area: st/stl sink, dishwasher. Kitchen: 6 burner range and oven, double fryer, griddle, grill, 4 commercial microwave ovens, under counter refrigeration, 3 upright chillers. Prep Area: st/stl sink, dishwasher, 3 upright chillers, chest freezer. Staff Room: Staff W.C. First Floor: Further Restaurant area: Second Floor: Office: Store Room: OUTSIDE: Parking for 1 car at rear. Delivery access.<br>

Business Operation

Trading hours:

9.00am - 5.00pm Mon to Sat 10.00am - 5.00pm Sun

Other Information

Furniture / Fixtures value:

Undisclosed

Inventory / Stock value:

Undisclosed