Property Details

Sought after restaurant and takeaway business for sale - Leasehold

Lease premium £150,000 to include F&F and goodwill

£50,000 per annum rent

Rent - £50,000 per annum + VAT
Premium - £150,000 good will and F&F
Vat - applicable on the rent and other charges
Turnover - £11k gross per week average
Rates - RV £27,250 (£678 per month payable)
Legal fees - Each party to bear their own fees

The Spice of India restaurant was fully renovated and trade has been built up by the current owners over the last 7/8 years.
The property is a brick built detached building under a pitched slate covered roof.

Melton Mowbray is a rapidly expanding town with the current population being over 27,000. There is a new relief road under construction and many new housing developments underway. Melton Mowbray is located 20 Miles from Nottingham, 16 miles from Leicester and 16 miles from Grantham which has a frequent train service to London Kings Cross. The train station located in Melton Mowbray provides services to Leicester, Stamford and Stansted airport.

Ground floor:- Entrance leading to open plan ground floor bar and restaurant area - with the main bar servery and a range of free standing tables and chairs with a total of 80 - 90 covers depending on layout. The catering kitchen and customer w/cs are also located on the ground floor.

First Floor:- Main open plan function room which can operate independently from downstairs and benefitting from its own bar servery and w/c's, this space offers covers for up to 60.

The property is being let on a new fully repairing and insuring lease with lease term to be agreed but no less than 5-years. There is a lease premium of £150,000 for goodwill, fixtures and fittings and any relevant licenses to transfer to the new owners. The rental guide is £50k per annum and ingoing tenants will be expected to lodge a 3 months rental deposit.

Stock will be purchased by the ingoing tenant on the handover day - this will be valued on the day.
Landlords building insurance will be re charged to the tenant at cost.
TUPE regulation for staff and employees may apply.