Collier Row Lane

An exciting opportunity to acquire a well-established Chinese restaurant and takeaway in the heart of Collier Row, Romford. This fully fitted and operational business generates an approximate weekly turnover of £4,000, operating with the usual high-profit margins associated with the sector. The restaurant is run by a husband-and-wife team, supported by one full-time staff member. Available on a new lease with a rental of £29,000 per annum, the business is offered for sale at £90,000. RX535723

Location

Situated in a busy parade in Collier Row, Romford, this restaurant benefits from a high level of footfall and excellent visibility. The surrounding area consists of residential housing and local businesses, ensuring a steady stream of customers. The premises are easily accessible, with convenient parking options nearby and strong transport links connecting to Romford town centre and beyond.

Restaurant Area

Fully glazed entrance into glazed lobby area opening to restaurant area:- fitted carpet, matching tables and chairs for a comfortable 50 covers, wall mounted air conditioning unit

Bar / Reception Area

Stylishly designed reception counter with POS system, decorative shelving, undercounter drinks fridge, single sink unit with drainer

Kitchen

Chest freezer, commercial pressure cooker, double fryer x2, walk in fridge, stainless steel prep tables, 3 burner gas burners, 9 burner gas burners, commercial extractor system, microwave, double stainless steel sink u it with drainer, storage cupboard housing storage shelves and boiler, fridge, wash hand basin, various other equipment to trade.

Store

Tiled flooring, walk in freezer, strip lighting, double doors leading to kitchen, door to rear, door to further store

Further Store

tiled flooring, shelving, florescent strip lighting

Staff

The business is currently operated by a husband-and-wife team, supported by one full-time staff member.

Turnover

Approximate weekly turnover of £4,000 High-profit margins Potential to increase sales through dine-in services, online delivery platforms, and expanded marketing efforts

Trading Hours

Restaurant:- Monday - Closed Tuesday - Thursday 12pm - 2.30pm & 5pm - 10.30pm Friday & Saturday - 12pm - 2.30pm & 5pm - 11pm Sunday - 12pm - 2.30pm & 5pm - 10.30pm Delivery:- Sunday - Saturday 5.30pm - 9.30pm

Tenure

A new lease will be granted for a term to be agreed, at a rental of £28,000 per annum.

Business Rates

The premises is subject to a rateable value of £15,000 the small business multiplier for occupied properties which have a rateable value below £51,000 – for 2024/25 this is 49.9p in the pound equating to £7,845 before any further relief is claimed (if availabale)

Legal Costs

Each party are to be responsible for their own legal costs incurred.

Freehold

The Vendor has advised that the freehold including the 3 bedroom accommodation above may be available via separate negotiation. We are advised that the accommodation is currently let out on a room let basis.

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.