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A Substantial Indian Restaurant In Greenwich For Sale

Greenwich, London
Asking Price:
£250,000
Sales Revenue:
£360,000
Cash Flow:
£30,000

Business
This rare and substantial business on offer is a top-end profitable Indian restaurant operating on the high street, which was opened 9 years ago by beautifully converting a historic pub in South East London. The family operated restaurant is reluctantly put on sale due to some unavoidable family commitments of the owners.
The restaurant originally had over £200,000 conversion from the pub, giving it an exquisite décor and an appealing dining environment, with some of the best south Asian cuisines offered on its menu. It recently had a further conversion of its first floor into living accommodations, giving further potentials for additional incomes.
The restaurant has enormous internal area as well as a large external area comprising of a massive private car park at the rear which has also been used for outdoor seating, functions such as weddings and community activities. Some of the exciting details about the restaurant are as follows:
The location
The busiest junction of the high street in Eltham, an affluent and rapidly regenerating part of South East London. Superb town centre high street location, very rare to get hold of. A fantastic opportunity for any nationwide operators to open their franchises or branches - it is right at the main junction of the high street opposite to McDonalds. You don't get these sort of premises too often.
Other businesses and neighbours
The surrounding nationwide businesses include a large McDonalds to the front and KFC, Turkish, Thai and Italian restaurants nearby, which are soon to be joined by Nando’s, Pizza Express and other outlets being opened in the new Cinema built ready and about to open any time now.
Eltham has an affluent residential area which benefits from the historic Eltham Palace, and the high street has ever increasing footfalls driven by the recent multimillion pounds town centre regeneration programme, new apartment buildings and developments, a brand new cinema on the same street, about 200 metres from the restaurant.
The premises internal area
The attractive 40/50 seater dining area on the front is served by a substantial bar, which also serves the vip customer waiting area (which can be converted to a further 20 seater seating space if required) and the additional 60/70 seater dining/party space at the rear, decorated to a very high standard.
External area
The massive external area at the rear is partially decked and has a nicely constructed flower bed on one side and some storage area on the other. There is also a large cold room at the outside which can also be used as a freezer. The outside space is generally used for private parking, which has the potential of renting out to the local businesses for annual incomes, but also used for functions such as outdoor barbecue and dinner, wedding parties, receptions and corporate events.
Basement storage
A large basement currently used as storage and staff toilets
The licences
The premise has all the licences required for its operation in both internal and outdoor functions. It also has a five star food safety ratings.
Assets and equipment
Complete with three large cold rooms and additional fridges, 8 burner commercial stove, 2 tandoori ovens, two bars, plus a small service counter at the rear, three toilets for ladies and gentleman and the less able customers, two kitchen areas and all their necessary equipment (it is a large restaurant), and all the equipment required for the two just refurbished flats above – one 1 bedroom and other 2 bedroom plus common areas). Further storage space is available up on the loft accessible from the first floor.
Electronics and web presence
The restaurant has a dominant website of a high quality currently outsourced for its SEO and maintenance, as well as social community presence across the board. Inside, it operates modern electronic gadgets for order management system. It has online menu and booking system reflecting its dominance in the web domain and highest ranking on Google for certain keywords.
Parking
The parking is free on the roads after 6:30pm, which is fantastic for the restaurant and its customers. This allows the rear car park of the restaurant to be permanently converted into its additional capacity for parties, seminars and other events, a facility the area is currently lacking.
Tenure
Originally 25 years lease, with over 15 years remaining.
Rent £60,000 per annum exclusive of vat. The flats above have a total rental income of circa £28,000pa, thus significantly reducing the rent load.
Rates are approximately £14,000 per annum.
Staff
The restaurant is run by a manager and a combination of 3 full time and other part time members of staff including drivers.
Finance
The last business report shows the turnover in the region of £360,000 showing profit.
Price
This substantial restaurant is priced for a quick sale at £250,000 plus sav.
Tenure: Leasehold

Location Details:
Superb town centre high street location, very rare to get hold of. A fantastic opportunity for any nationwide operators to open their franchises or branches - it is right at the main junction of the high street opposite to McDonalds. You don't get these sort of premises too often.

If interested please contact the seller through the form on this page.

Property information

Property:

Leasehold

Lease Terms:

15 Years remaining

Leasehold Rent:

£60,000 per annum

Living Accommodation:

Two newly built flats. The flats above have a total rental income of circa £28,000pa, thus significantly reducing the rent load.

Location:

Superb town centre high street location, very rare to get hold of. A fantastic opportunity for any nationwide operators to open their franchises or branches - it is right at the main junction of the high street opposite to McDonalds. You don't get these sort of premises too often.

Premises Details:

This rare and substantial business on offer is a top-end profitable Indian restaurant operating on the high street, which was opened 9 years ago by beautifully converting a historic pub in South East London. The family operated restaurant is reluctantly put on sale due to some unavoidable family commitments of the owners.
The restaurant originally had over £200,000 conversion from the pub, giving it an exquisite décor and an appealing dining environment, with some of the best south Asian cuisines offered on its menu. It recently had a further conversion of its first floor into living accommodations, giving further potentials for additional incomes.
The restaurant has enormous internal area as well as a large external area comprising of a massive private car park at the rear which has also been used for outdoor seating, functions such as weddings and community activities.

Planning Consent:

A3 and Residential

Energy Performance Rating:
C

Business Operation

Expansion Potential:

There is a plenty of space to play with in this restaurant. Should it get busier, the flats above could be converted (SPP) to further dining/party area, thus giving a lot of options.

Competition / Market:

There are a a couple Indian restaurant nearby, but they are not our real competitors

Reasons for selling:

The family operated restaurant is reluctantly put on sale due to some unavoidable family commitments of the owners.

Trading hours:

4pm to 11pm Monday to Friday
12pm -11pm Saturday and Sunday

Employees:
10
Years established:
2010

Other Information

Support & training:

Full handover and training provided within a couple of weeks

Furniture / Fixtures value:
£250,000
Inventory / Stock value:
£7,000

Contact Information

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