The property consists of front retail with accommodation above. The retail area decorated to a high standard with 30 covers with potential to expand. This is then followed by customer WC, storage, kitchen and preparation area, and rear garden.
The above accommodation consists of 1 bedroom, lounge and kitchen which collects a rent of £10,200 per annum held on an AST.
Within the right experienced hands, this business could be very lucrative.
Location & Surroundings
Ilford is a large cosmopolitan town in the northeast of London, England and the administrative headquarters of the London Borough of Redbridge. It is located 9.1 miles (14.6 km) northeast of Charing Cross and is one of the major metropolitan centres identified in the London Plan.
The 2011 census records the population of London Borough of Redbridge as 278,970. Redbridge has the third highest proportion of children and a higher-than-average proportion of older adults while the proportion of working age adults is slightly lower than average. Redbridge is one of the most ethnically diverse local authorities in the UK.
The surrounding areas are densely built up with residential property which results in a high demand for local trade. The take away is situated on a high street with is surrounded by numerous restaurants, Fitness First, and shopping centres.
Business Description & Takings
The business currently caters for fried chicken, burgers, chips and pizza with delivery and boasts from a strong residential following within the local community.
The business, which has been established for 15 years, benefits from overhead flues, large cooker range, fridge and freezer display units, gas grill, pressure frier, large walk in freezer and other ancillary kitchen utensils and necessities.
Oakville Real Estates have been advised that the current taking of the business is currently around £6,000pw (unverified).
Opening Times & Staffing
Currently the business is open from Monday to Sunday and is currently run with 2 full-time and 2 part-time staff.
Tenure & Lease Terms
Currently held on 25 year lease commencing around 2007 with a passing rent of £18,000 pa and a 3-yearly rent review period.
Owner is seeking offers of £125,000 for the leasehold interest and business goodwill.
Tenant to pay a contribution towards the landlord’s solicitor’s costs.
Viewings highly recommended. If you are interested in viewing this property please contact your agent at ORE on 02084729090.
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