Archived
Well established Indian restaurant/takeaway for sale.
Stoke-on-Trent, Staffordshire
- Asking Price: £34,995 +SAV
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Turnover:
We are advised as per the 2018 accounts, the business generated a turnover in the region of £110,000, with an adjusted net profit in the region of £35,000. Full financials can be made available upon further request.
Please quote reference number B05999
- Tenure: Leasehold
Please quote reference number B05999
Hilton Smythe welcomes to the market an exciting opportunity to acquire, on a leasehold basis, an exceptionally well run and performing, 90 cover Indian restaurant and takeaway.
Milon Restaurant & takeaway has been under the careful & meticulous ownership of our clients since 1971, growing the business to an impressive level with consistent turnover & with an excellent local reputation & benefiting from an alcohol licence.
The business has been placed on the open market as it’s our clients desire to leave the industry due to other business interests.
The business is run as a contemporary Indian style restaurant & takeaway. This is an upmarket restaurant that offers a range of delicious dishes.
The restaurant further benefits from having an alcohol licence in place and serves a selection of beers, wines & spirits for diners.
There is further scope to increase turnover by undertaking in a robust localised marketing campaign via local press & social media, while there is scope to update the dedicated website that is in place.
Revised opening hours could also be considered so they could potentially catch some lunchtime trade due to the busy location of the business.
Our client would be willing to offer a handover period to the purchaser, this will help the transaction run smoothly. This restaurant has very little competition around and would be a great opportunity for any purchaser with experience in the trade.
The business trades on its reputation for quality and service and has outstanding future possibilities. It would potentially be an ideal acquisition to some similar sized or larger enterprise looking to increase its position and presence within the industry.
Very rarely do businesses of this calibre come to the open market therefore, early viewing must come highly recommended to avoid disappointment.
We are advised that the business has 3 full time members of staff.
The business hours are;
Monday: CLOSED
Tuesday: 17:30 - 22:45
Wednesday: 17:30 - 22:45
Thursday: 17:30 - 22:45
Friday: 17:30 - 22:45
Saturday: 17:30 - 22:45
Sunday: 17:30 - 22:45
The business is located on the busy & thriving Market Street, Longton, Staffordshire & is surrounded by a host of complimentary independent business leading to a good level of footfall & passing trade.
Longton is one of Stoke on Trent’s five principal towns, located close to the A50 giving access to the Pottery towns and the national road network. The town has a busy centre with a traditional high street, rail station, market and is well serviced in terms of local amenities.
The property comprises, a ground floor restaurant with space for 90 covers & fitted out to an exceptional standard, along with a fully equipped commercial kitchen located to the rear of the premises.
The restaurant has undergone a programme of refurbishment over the years & can be found in true turnkey condition.
A full equipment list can be made available on request.
An internal inspection is highly recommended to appreciate the potential and ideal family business on offer.
Tenure
We are advised that the business is being sold on a leasehold basis, with a new lease to be negotiated.
The Freehold option is also available at £499,950. There is the potential to split this property into 4 flats.
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Representative Example
Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
Rates may differ as they are dependent on individual circumstances. Subject to status.
