Restaurant for sale

Khushi Indian Buffet, 11-13 Cumberland Road, Middlesbrough, TS5 6JB

Offers Invited

Property Description

Commercial information

  • Business for sale

Key features

  • Established buffet restaurant business
  • Turnover Y/E 31.5.16 323,118
  • Car parking for 40. Plot size c.0.5 acres.
  • Capacity for 150 diners internally
  • Scope to expand on current trading hours
  • Alternative use potential subject to planning. Energy Rating D

Full description

Tenure: Leasehold

Description

A two storey, detached former public house premises tastefully converted to a contemporary restaurant, which sits on a sizable plot of land (c. 0.5 acres) with ample parking.

Decorated in a contemporary style and well maintained.

Location

Khushi Indian Buffet restaurant is located in the densely populated residential and commercial area, Linthorpe Village, in very close proximity to the main retail and leisure parade, Linthorpe Road, on the edge of the town centre.

The property benefits from excellent road links with the A66 east-west and A19 north-south which are both easily accessible.

Internal Details

The ground floor trading area consists of bar servery and restaurant seating for 130 covers, with capacity for up to 150.

Ancillary areas include commercial grade catering kitchen, beer cellar, male, female and disabled persons toilets.

At first floor level is a former three bedroom owner's/manager's flat, currently disused and in need of refurbishment.

Fixtures & Fittings

We have been advised that the majority of the fixtures and fittings are owned outright and are substantially free from loan, lease or hire purchase agreement and will be included in the sale, subject to an inventory.

Lease option

The sellers would consider creating a new, free of tie lease to a suitable operator. Rental offers in excess of £28,000+VAT per annum are invited and lease term to be negotiated.

External Details

There is car parking to the side of the main building for 40 cars. There is also a paved area to the front of the premises which could be utilised for external seating.

The Opportunity

This business presents an opportunity for an experienced operator to expand on an established but young restaurant with an excellent reputation.

Staff

The business is currently owned and managed by a husband and wife team, along with an accompaniment of full and part time staff. More detailed information can be supplied upon request.

Trading Information

Accounts for the year end 31 May 2016 show a net turnover of £323,118. From the VAT returns, the turnover for the period 1 April 2016 to 31 March 2017 show a turnover of £379,928.

Accounts can be provided to seriously interested parties on application.

Development Potential

The current owners have had plans drawn up for a residential housing scheme and have previously been approached by house builders to purchase the plot as a development site. It is their preference to sell the business as a going concern, but offers based on alternative use potential are not discouraged.

Business Rates

The Rateable Value is £15,500 with effect from April 2017. Confirmation of actual business rates payable should be obtained from the local authority.

Regulatory

Premises licence.


More information from this agent

Nearest stations

  • Middlesbrough (1.4 mi)
  • Marton (2.1 mi)
  • Thornaby (2.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Middlesbrough (1.4 mi)
  • Marton (2.1 mi)
  • Thornaby (2.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 6467039-lh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co , Newcastle Upon Tyne. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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