Restaurants for sale in Ingatestone

View the "Closed Restaurant with Accommodation In Essex" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 Daltons offered a simple, low-cost and effective way to advertise our business for sale to a wide audience.  

David Binder (Nov 2017)
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Leasehold Price: £10,000 Price Reduced
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Business Description
Busy Trading Location
Previous Annual Turnover £234,000
3 Parking Spaces To The Rear
Customer Seating For 50
3 Bedroom Accommodation
Retirement Sale
EPC - B
REF 6317 – Recently Closed Chinese Restaurant with Accommodation

Blacks Brokers are pleased to bring to the market this Recently Closed Chinese restaurant with accommodation located in a much sought-after area of Ingatestone, Essex.

INTRODUCTION

The business had been trading on High Street since 1996 with our client in ownership since 2011. The business had become a very well-known and popular restaurant with a large base of regular customers and a good reputation. Tim’s Palace catered for a large amount of takeaway customers in addition to dine-in customers.

LOCATION

It is positioned on a busy street in Ingatestone close to many other local businesses, shops and the town Church. The area is well linked by the A12 with excellent public transport links in place and there are three parking spaces to the rear with roadside parking in the immediate vicinity.

REASON FOR SALE

This is only being offered for sale due the retirement of our client. This presents an excellent opportunity for a new owner-operating team to take the business to the next level.

LEASE

The building is available on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is 25 years and began in 1996 at a cost of £601 per week. This lease includes the accommodation positioned within the first floor of this spacious property.

BUILDING LAYOUT AND DESIGN

The business operated from the ground floor of a spacious, end-terraced property within a parade of local shops and businesses. The business has large signage in place above a mainly glazed frontage with central entrance. Inside, the main dining area offers seating for 50 and is presented well with traditional Chinese themed décor throughout. The bar is fitted with one draught beer pump, glass washer, wine chiller and fridge freezer. The service area includes a plate warming cabinet. There are ladies and gents toilets positioned to the rear of the space and the kitchen and store room are to the side. The kitchen is fully fitted with an air extraction system, rice cooker, hot cupboard, 9-hob gas cooker with double oven, a large rice/pancake/noodle steamer, 8 hob wok range, stainless steel food preparation unit, three upright fridges, three chest freezers and a microwave oven. All equipment is of good quality.

The first floor comprises of a spacious flat – this comprises of three bedrooms, kitchen, utility room and bathroom. This is currently occupied by staff and could benefit from some cosmetic upgrading.

SUMMARY

This proposition would ideally suit an owner operating team who could reopen the business and push it forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Fixtures:
Fully fitted bar with one draught beer pump

Glass washer and fridge freezer and wine chiller

The service area includes a plate warming cabinet

The kitchen is fully fitted with an air extraction system

Rice cooker

Hot cupboard

9 Hob gas cooker with double oven

a Large rice/pancake/noodle steamer

8 Hob wok range

Stainless steel food preparation unit

3 Upright fridges

3 Chest freezers and a microwave oven
Trading Hours:
Mon - 5.30pm - 11pm
Tue - Sat - 12pm - 2.30pm / 5.30pm - 11pm
Sun - 1pm - 11pm

Tenure: Leasehold

Location Details: Ingatestone

Leasehold Term: Rent: £601 Per Week

Listed by: Blacks Business Brokers Limited

Find out more about this business opportunity.

 
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6317
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