Restaurant/cafe for sale in High Street, London N8

£49,995
Restaurant/cafe for sale
Interested in this property? Call +44 161 937 5978 * or Request Details

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Property description

Ref 6789 –Leasehold Takeaway
Blacks Brokers are pleased to bring to the market this leasehold takeaway located in a bustling area of London.


Introduction


The Seasoned Wok has been trading on High Street since 1998. Our client took over the business is 2008 and was attracted to the business due to the high amount of footfall and large residential community located close by. The business is very well known and has an excellent reputation in the area, along with a large base of regular customers and good reviews are noted on Google.


Location


The business occupies a prime location within a popular shopping parade. Neighbouring businesses include large multiples such as The Co-op and the Post Office as well as independent retailers, offices and a busy pub. Hornsey is well linked by the M1 and A1 with superb public transport links and parking is available close by.


Reason for sale


The Seasoned Wok is ideally suited to a hands-on owner-operator but due to our client’s desire to relocate abroad, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.


Lease


The building is available with a competitive rent on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial lease. The current lease is a rolling lease running at a cost of £288 per week. We are advised a new lease can be negotiated.


Building layout and design


The Seasoned Wok operates from the ground floor of a spacious, mid terraced property. The business is well branded with large signage which is displayed above a fully glazed frontage – this is fitted with metal roller shutters for added security. Inside, the takeaway is well presented with large servery counter to the side and menu boards displayed above. Behind the counter is a large, fully equipped kitchen and staff toilets. There is also a large storage area. To the rear of the property is a yard area.


Staff


The business is currently operating with five members of staff in employment supporting our client working on a full time basis.


Financial details


The Seasoned Wok has traded well for a decade. We are advised that the business has annual turnover of £208,000. Full financial details are available upon viewing.


Business rates


The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.


Summary


This leasehold business occupies a superb trading position on a busy main road and is close to a large residential community. There is plenty of scope to develop the business further with the introduction of longer opening hours and a new online and social media presence. A new owner may also benefit from a strong marketing drive in the local area. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £49,995.

Please quote ref: 6789

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For more information about this property, please contact
Blacks Business Brokers, BL9 on +44 161 937 5978 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blacks Business Brokers, and do not constitute property particulars. Please contact Blacks Business Brokers for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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