Description

Restaurant for Sale with Catering Hall in East London

Property ID: RPS-23045

PROOF OF FUNDS REQUIRED: All interested buyers must be able to provide proof of funds before requesting viewing.

MAIN DETAILS

Spacious restaurant with catering hall in East London
Ideal for parties, weddings & ceremonies
Approx. 3,687 sq. ft total area with a capacity for up to with 270 guests
Fully fitted commercial kitchen
Premises licence in place
Business for sale & lease assignment

LANDLORD’S REQUIREMENTS

Guarantor required (subject to references)
6 month’s rent deposit required (subject to references)
Other usual checks will be carried out

LEASE DETAILS

Lease: Ending March 2030 (Option of new lease)
Current rent: £50,400 per annum exclusive
Rent review: Every 3 years
Next rent review: March 2027
Premium: £499,000 (Business, Lease & fixtures and fittings)

THE PREMISES

Total area circa 3,687 sq. ft
Restaurant & bar circa 90
Wedding hall for 180 guests
Fully fitted commercial kitchen
Premises licence in place
New Rateable Value: 72,500
Payable business rates: Circa £34,800 (tbc)

THE BUSINESS

We have been informed that both the restaurant and wedding business generates gross revenue of circa £780,000 per annum (£15,000/week)

THE LOCATION

Ilford, East London
Car park available nearby ideal for wedding & parties

VIEWINGS & CONFIDENTIALITY

All interested buyers must have proof of funds to meet the premium and landlord’s requirements.

All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client.

Strictly through Restaurant Property Sellers only. By using our website, you agree with our Terms & Conditions.

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.