Long established, successful Chinese restaurant business for sale.
Good location within a densely populated area.
Total ground floor of 908 sq.ft (84.4sq.m).
Includes spacious, self-contained 3bedroom flat.
20-year lease from 26 November 2014.
Rent of £17,000 per annum exclusive.
Unrestricted parking nearby and bay parking in front of the premises.
Single parking space at the rear.
LOCATION
The premises occupy a prominent location on Croydon Road at the end of this
popular shopping parade between Caterham Town Centre and the Wapses Lodge roundabout junction with the A22. Caterham benefits from good road and rail connections with Junction 6 of the M25 close-by at Godstone. There are Mainline Railway Stations close by (Caterham and Whyteleafe South) providing regular services to Croydon and London
ACCOMMODATION
The premises comprise a three-storey building currently arranged to provide a ground floor restaurant/ takeaway with a self-contained, 3 bedrooms flat on the first
and second floors. The ground floor restaurant provides for 46 covers in its current configuration and includes separate male and female toilet facilities and a built-in bar
area. The kitchen is located at the rear of the premises along with a storage area.
The flat can be accessed either externally or via an internal staircase.
The accommodation and net internal floor areas are as follows:
-
Ground Floor
Restaurant 590 sq.ft (54.8 sq.m)
Kitchen 220 sq.ft (20.4 sq.m)
Storage 98 sq.ft ( 9.1 sq.m)
Total 908 sq.ft (84.4 sq.m)
First Floor
Living Room, Kitchen, Bedroom 1
Second Floor
Bedroom 2, Bedroom 3, Bathroom & Storage
TENANCY
The whole property is held on a lease for a term of 20 years from 26 November 2014. The current rent is £17,000 per annum exclusive and the lease provides for five-yearly rent reviews.
PRICE
The lease, goodwill of the existing business, fixtures and fittings are available for
£80,000 plus stock at valuation. Further information and accounts are available upon request. Subject to contract.
VAT
We understand that Vat is not currently payable on the rent.
RATES
The Valuation Office Agency describes the property as “Shop & Premises” and advises that the 2017 Rateable Value is £9,700. The UBR for 2020/21 is 49.9pence in the £. The flat is within Band C for Council Tax purposes.
LEGAL COSTS
Each party is to be responsible for their own costs.
