Restaurants for sale in Waltham Abbey

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Authentic Greek Restaurant

Waltham Abbey, Essex, England

  • Leasehold Price: £249,995  Price Reduced arrow_drop_down
  • Turnover: £510,000
  • Gross Profit: £260,000
Seller Reference: B04109
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Business Description
 
 
 
 
 
 
 
 
 
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Seller Reference: B04109
Request Details
Business Description
Business
This business is offered in two parts with 17 rooms rented out above the Greek Restaurant.

Asteras Taverna provides authentic Greek cuisine and international dishes catering for events i.e. Weddings, Christenings, Parties and Hen/Stag nights etc. They hold an alcohol licence and are the only restaurant in the area with a licence to open until 2.00 am.

Above consists of 2 studio apartments, 1 bedroom flat and 14 Double Bedrooms. The owner has renovated the business which he has owned for 2 years and has been trading for the last 6 months, he is now selling due to other work commitments.

Location
The business is located in a populated area along a main road in Waltham Abbey.

Premises
The premises is along a populated main road, benefiting from passing traffic which increases public awareness.

As you walk through the entrance you are greeted with a impressive granite bar area that leads to the dining area which is cleared after the meal to incorporate a dance floor for the evening entertainment, featuring greek dancing, belly dancing and disco.

Equipment:

● 2 x Chillers
● Double Freezer
● Large Chest Freezer
● Double Fridge
● 2 x Microwave
● Imperial Stove
● BBQ Grill
● Double Fryer
● Coffee Maker
● Disco Equipment
● Till System
● Table and Chairs

Tenure
This business is a Leasehold opportunity, with 13 years remaining from the original 20 years.

The rent is £72,000 per year with £13,000 rates payable.

Hours
The restaurant is currently open for events only, mainly consisting of Fridays and Saturdays.

Staff
The current owner has staff at another restaurant that he loans Asteras when events take place.

Financial Profile
We are advised the business is currently achieving £8,300pcm from the rooms above the restaurant and taking an average of £8,000 per week from the restaurant, so is set to a total annual turnover of £515,000.

SAV total £70,000.

Tenure:
Leasehold
Listed by:
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