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£0 £1000000

Archived

Over 200 Cover Indian Restaurant

Essex

  • Asking Price: £224,995 +SAV
  • Turnover: According to the 2016 accounts the business generated a turnover in the region of £274,000 with a gross profit of circa 61%.
  • Tenure: Leasehold

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Hilton Smythe welcomes to the market this Indian restaurant. The business was established in this location by our client in 2009. The restaurant is well-established and receives a generous amount of repeat loyal trade. The owner is now looking to sell the business, due to the desire to take a well-deserved retirement. The business runs as an Indian restaurant serving a variety of diverse Indian, Persian and Thai dishes. Our client offers buffet menus on Sundays as well as many special offers throughout the week. Food can be eaten in the large 200 cover restaurant, taken away or delivered. All dishes are available as a takeaway option, this is a popular service with the locals. Trade is split 50/50 eat-in and takeaway. Orders can be booked through sites such as Hungry House and JustEat. These are well-used takeaway sites, great for generating custom. The restaurant can also cater for private functions and parties. This is available from the first-floor function suite. The owners also host regular well-known tribute nights, live music and themed party nights, which have proven to be very popular. According to the 2016 accounts the business generated a turnover in the region of £274,000 with a gross profit of circa 61%. This is an exception turnover, with scope to be increased. Nearby there is a new housing development for 500 houses. This could be highly beneficial to the restaurant and takeaway. We feel by targeting these new customers with leaflet drops and posters, there could be a huge increase in extra trade. The restaurant has a website, this is included in the sale. We feel a Facebook page could further benefit the business. Social media is a great cost effective way of marketing a business. This is a fantastic Leasehold opportunity that is not to be missed. The restaurant has an exception reputation in this location and boasts a substantial sized property. Hilton Smythe highly advise early viewing to take in the full potential of the trade.

The business is run and managed by our clients, with the help of eight part time members of staff.

The business opening hours: - Monday - Sunday: 12pm – 11:30pm

The restaurant is located in Essex. The business is situated in a sought-after town centre location. This is a bustling town with a plethora of retail outlets, this includes some independent and larger branded stores. Stores close by include, hair salons, cafes, beauty salons, convenience stores, charity shops, pubs and much more. The town centre has ample parking for customers to easily call in the restaurant.

The restaurant boasts a large two storey property, in a town centre location. The main entrance has a courtyard this is gated for security. The property is well signed with a sign across the front and side. On entry is the reception area come waiting area. There is comfy seating were customers are greeted. From the hallway is the ground floor seating area and glass stairs up to the first floor. The ground floor seating area is open plan with seating for 76 covers. On this floor is a fully fitted marble bar servery. The room is also fitted with bespoke ceiling lighting, high end wall décor and handmade carpets with the business name on, throughout. The commercial kitchen is through to the rear of the property, there is also customer toilets, staff toilets and a storeroom. On the first floor is a further dining area for 125 covers. Again, there is a full equipped marble bar servery, and a food servery lift from the ground floor kitchen. There are further customer toilets on this floor and access to the second-floor accommodation. On the second floor is an accommodation. This has two-three large bedrooms, kitchen and bathroom. This space is used by staff whilst working. Full equipment list to be supplied.

Tenure
We are advised the business is being sold as a Leasehold opportunity. Original lease length: 10 years.Remaining lease length: 10 years as of 2017. Rent: £52,000 per annum.

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