Restaurants for sale in Potters Bar

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Leasehold Restaurant In Potters Bar, Hertfordshire

Potters Bar, Hertfordshire, England

  • Leasehold Price: £35,000  Price Reduced arrow_drop_down
  • Annual Turnover: £147,684
  • Annual Gross Profit: £99,834
Seller Reference: 6223
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Business Description
 
 
 
 
 
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Seller Reference: 6223
Request Details
Business Description
Established by Our Client In 1992
**Accounts Year End 28th Feb 2018**
Annual Turnover £147,684 (Audited 28.02.2018)
Gross Profit £99,834 (Audited 28.02.2018)
Accounts Available After Viewing
Open Evenings Only
Customer Seating for 46
Very Good Trading Position
Close to the Theatre, Cinema and Rail Station
New 20 Year Lease - Retirement Sale
Easily Adaptable for Alternative Menu
EPC – E
REF 6223 – Leasehold Indian Restaurant

Blacks Brokers are pleased to bring to the market this leasehold Indian Restaurant located in a busy and much sought-after area of Potters Bar, Hertfordshire.

INTRODUCTION

The Chilli Raj has been trading on The Broadway since 1992 with our client in ownership since opening. The restaurant is very well-known with a large base of regular customers, in addition to plenty of passing trade. It also has a comprehensive website with an ordering system, social media presence and “Yoyo order” app.

LOCATION

The business is positioned on The Broadway in Potters Bar, this is close to Wyllyotts Theatre, the cinema and Potters Bar railway station. This area has a good mix of both residential and commercial properties and is well linked by the M25 and A1(M). Parking is available immediately outside the restaurant and public transport links are excellent.

REASON FOR SALE

Our client offers this business for sale due to retirement.

LEASE

Our client will offer a new lease which will be fully negotiated with this business sale - the building will be available on a Full Repair and Insure lease (FRI lease). This is the most common form of a commercial lease. The new lease offered will be fifteen years and will run at a cost of £423.08 per week.

BUILDING LAYOUT AND DESIGN

The Chilli Raj operates from the ground floor of a spacious, three-storey, mid-terraced property within a busy parade of shops and other businesses. The restaurant is well branded, with clear, bold signage displayed above a fully glazed frontage. Inside, the restaurant is presented very nicely, with air conditioning throughout and offers seating for forty-six. There is an attractive wooden bar to the side serving a good range of beverages. The kitchen and customer toilets are positioned to the rear of the space with the impressive kitchen, which is fully-equipped with a tandoor oven, walk-in fridge and much more. Each area is immaculately finished.
The business has one dedicated parking space and use of a stand-alone container for additional storage.

The upper floors of this building are not included in the lease and are currently flats that are occupied by private tenants.

STAFF

The business is currently operating with nine full-time members of staff supporting our client working on a full-time basis.

FINANCIAL DETAILS

The Chilli Raj has traded solidly during over the last twenty-five plus years. The business generates an annual turnover of £147,684 and gross profit £99,834. Full financial details are available upon viewing.

SUMMARY

This is a very well-presented restaurant in an excellent trading position. The business is long-established and offers a superb opportunity for a new owner to continue trade immediately; however, the restaurant could be used for other cuisines, if preferred. Despite the business already trading well, there is still scope for expansion, with the introduction of new opening hours to include lunchtimes and partnerships with websites such as Just Eat and Hungry House. This proposition would suit another owner-operator with plenty of time to dedicate to this busy restaurant. Early viewings are strongly advised. Fixtures:
Fully Fitted Wooden Bar

Air Conditioning

Walk in Fridge

x3 Double Under Counter Drinks Chillers

Tandoor Oven

8 Ring Gas Cooker with 2 Ovens

Air Extraction System

Stainless Steel Prep Unit with Chilled Cupboards

Microwave Oven
Trading hours:
Mon - Thur: 17:30 - 23:00 Fri & Sat: 17:30 - 23:30 Sun: 17:30 – 23:00
Tenure:
Leasehold
Location Details:
Potters Bar
Leasehold Term:
£423 Per Week
Listed by:
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