Freehold Restaurant For Sale with Two Flats

Freehold Restaurant with Two Separate Flats in North London

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MAIN FEATURES

• Freehold Property with Restaurant Business for Sale
• No Lease in Situ (Owner Occupied)
• Two Separate Flats on AST at £29,400 per annum
• Two Units with Two Separate Upper Flats
• Price: OIRO 1.6 million (Freehold property, business & FF&E)

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GROUND FLOOR

• Total Area Circa 2,228.39 Sq. Ft
• Rateable Value: £23,750 (Payable: Circa £11,367/year)
• Two separate units converted into a Takeaway, Restaurant & Cafe
• Restaurant covers Circa 68 covers
• Fully fitted takeaway with 8.16m extraction
• Fitted bar, washing area, cold room, customer WC and storage
• EPC Rating: C

Description: The ground floor accommodates a fully fitted takeaway counter at the front, leading to a small cooking area and bar followed by spacious washing, prep area, and storage to the rear with cold room. It also has a dining area for up to 68 covers. Wooden floor spread over the retail section and kitchen and prep area has Quarry stone tiles.

The ground floor also comprises of a small cafe which our client has let on a short-term contract which can be vacated as per the buyer’s requirements.

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FIRST FLOOR FLATS

• Two separate flats with front entrance
• One 2-Bed Flat (circa 721 sq. ft)
• One 1-Bed Flat with kitchen (circa 508 sq. ft)
• One 1-Bed Studio (circa 213 sq. ft)
• EPC Rating: E

Description: One upper flat is circa 721 sq. ft and comprises of a kitchen/living room, two double beds, one single bed and shower/toilet. It is currently let on AST with a rental income of £1,100 per calendar month exclusive.

The second flat accommodates one studio, circa 200 sq. ft and is let on AST with a rental income of £600 pcm and one-bed flat with circa 387 sq. ft, let on a rental income of £750 pcm. In total both the flats generate monthly rental income of £2,450 pcm (£29,400 per annum).

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THE LOCATION

• Bowes Park, North London N22
• Several Retail Shops & Eateries nearby
• Bowes Park Overground: 0.2 Mile
• Bounds Green: 0.4 Mile

Description: The subject property is situated in Bowes Park, 0.2-mile from Bowes Park overground (Great Northern Railway) and 0.4-mile from Bounds Green underground train station (Piccadilly line).

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TRADING

• Trading as a popular Greek Restaurant
• Gross Sales: Circa £15,000 to £20,000 per week

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Description: Our client opened this restaurant in 1970s and since then he has been able to accumulate excellent reviews and has maintained the business and the property to its highest standard. Currently, the business is operated by family members with the help of several full time and part-time staff.

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VIEWINGS & CONFIDENTIALITY

All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client. Viewings are strictly through Restaurant Property Sellers only. By using our website, you agree with our Terms & Conditions.

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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. The firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property.